Park Chan-ho (left), Lead Representative of Team 61, and John Fisher, Owner of the Athletics [Photo by Lee Dae-ho]

'Korean Express' Park Chan-ho-led investment consortium 'Team 61' has entered into a strategic partnership with the MLB's Athletics, involving a $70 million (approximately 102.7 billion KRW) investment.

Team 61 announced on the 27th at the Grand InterContinental Seoul Parnas in Gangnam-gu, Seoul, that they have signed the strategic partnership with the Athletics, securing a stake in a Major League Baseball team—a first for Korean capital.

Park Chan-ho, the lead representative of the consortium, delivered the presentation himself, wearing a grey suit complemented by a green tie symbolizing the Athletics franchise.

John Fisher, the owner of the Athletics, also attended the event as a presenter.

The investment in the Athletics by Park's consortium, which had been discussed in and out of baseball circles since last year, has now been finalized through this partnership.

To date, $55 million of the investment has been completed, with the remaining $15 million set to be paid following the approval process by the MLB Commissioner's Office.

Through this partnership, Park Chan-ho will join the club as a Senior Advisor to owner John Fisher.

In this role, he will provide counsel on overall club operations, including player development and the establishment and implementation of strategies for the Asian market.

Team 61 is an investment consortium that includes Park Chan-ho, as well as Hollywood actors Ken Jeong and Daniel Dae Kim.

The Athletics, who are preparing for a relocation to Las Vegas, Nevada in 2028, have been seeking capital investment for projects such as the construction of their new stadium.

Team 61 emphasized that this investment is more than just acquiring a stake; it serves as a bridge for the future of Korean baseball.

Just as Park's entry into the U.S. led many Korean players to challenge themselves in the big leagues later on, they expect this connection with the Athletics to serve as a bridge for future generations.

Park Chan-ho stated, "During my playing days, as I introduced Korea to the Major Leagues and the Major Leagues to Korean fans, I learned how a small point of contact can create such significant change," adding, "As Korea is a baseball powerhouse with excellent fans and a player development system, I hope this exchange with Las Vegas will open up more opportunities for the next generation."

Athletics owner John Fisher responded, "Just as Park Chan-ho pioneered a new path for Korean and Asian players in the U.S., I believe this partnership, which marks the first-ever investment by Koreans in an MLB club, will create a positive impact for a long time to come."

The Athletics, founded in 1901 as a charter franchise of the American League, is a prestigious club with nine World Series titles and 15 American League pennants.

The team is also well-known in Korea as the real-life setting for the movie 'Moneyball.'

They have been raising funds for the construction of a new stadium ahead of their relocation to Las Vegas in 2028. (Yonhap News)