Raleigh’s bid for a Major League Baseball franchise just picked up another whale of an investor. Marc Lasry, the billionaire co‑founder of Avenue Sports Fund and a former co‑owner of the Milwaukee Bucks, told local reporters this week that he wants in on the city’s push for an expansion team. His interest, paired with a recent multi‑million‑dollar bet on the NC Courage, adds serious new money to an effort long linked to Carolina Hurricanes owner Tom Dundon.
Lasry’s Play: Big Money And A Big Bet On Raleigh
Lasry told WRAL that he wants to be “an investor in Raleigh,” pointing to the region’s rapid growth as a big part of the appeal. Earlier this year, the Avenue Sports Fund put roughly $40 million into the NC Courage, a move first reported by Sportico and heavily noted in local coverage. Lasry said that if Raleigh lands an MLB franchise, he would prefer a majority or controlling role, but he also signaled he is open to teaming up with other local backers.
Dundon’s Long Game And A New Power Player
Raleigh’s MLB push has so far been driven by Hurricanes owner Tom Dundon, whose group has been evaluating potential ballpark sites and possible development around the Lenovo Center, according to Sports Business Journal. Having a second deep‑pocketed investor in the mix could make the city’s case more compelling, Axios noted, giving MLB more confidence that ownership and financing would be solid. Local leaders and developers have been involved in early, behind‑the‑scenes planning, but officials say Raleigh will need clear agreement on a stadium site, funding structure and public commitments before any formal bid goes in.
Why Two Billionaires Matter In MLB’s Next Move
Major League Baseball has publicly discussed expanding from 30 to 32 teams, a shift that would make each expansion slot and stadium plan a high‑stakes decision, per ESPN. If the league moves forward, cities that can line up multiple committed investors and present a clear stadium blueprint are expected to stand out with MLB leadership.
Triangle’s To‑Do List Before The First Pitch
Brian Fork, the Hurricanes’ top business executive, told WRAL that Dundon’s group did not know about Lasry’s outreach but would welcome other investors who can help the region mount a serious bid. WRAL also reported a rough baseline of about $4 billion to both acquire a franchise and build a stadium, a reminder that this is not a small‑market hobby project.
Sports Business Journal and local officials say the next steps include continued coordination with MLB, deeper site‑selection work and hammering out how public and private dollars would be used if Raleigh decides to push ahead with a formal expansion proposal.
