Top Menu

Oakland contemplates foreign investments to help fund A’s ballpark

Oakland AthleticsWith no redevelopment money available for a new ballpark, Oakland officials are floating a plan to use foreign investments to pay for new sporting facilities — including a new Athletics ballpark.

It’s a wonky plan, to be sure. The federal EB-5 program basically allows foreign investors and their famlies to buy a green card if they invest a million dollars in a U.S. development project that creates at least 10 jobs. From the San Jose Mercury News:

And Mayor Jean Quan has been wooing Chinese investors to put their money behind the Victory Court ballpark and Coliseum City project, which includes hotels, a convention center, shops and new facilities for the Raiders and Warriors, as well as a ballpark alternative. Those projects are too vast to be paid for with only foreign capital, Quan said, but the city is looking at EB-5 visa money as a significant funding source.

Chinese investors, she said, “are very interested in EB-5 and always want to know what things are possible.”

An $8 million office tower was built using the proceeds of EB-5 investments.

Oakland is looking at paying for a lot of things from EB-5 investments — a big development surrounding the existing Coliseum and Oracle Arena, including upgrades to those facilities, as well as a new Victory Square ballpark for the Athletics. That’s a pretty tall order for a federal program that yielded only 1,403 successul applications across the entire nation in 2011.

RELATED STORIES: Court ruling clarifies San Jose, Escondido ballpark statuses


Share your news with the baseball community. Send it to us at

Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.

Join Ballpark Digest on Facebook and on Twitter!

Follow Ballpark Digest on Google + and add us to your circles!

, , , , , , ,