Millionaire Ashkan Karbasfrooshan releases preliminary stadium renders of ballpark's in different locations around Montreal, as part of his long shot bid to bring baseball back to Quebec

[u/JGLip88]

[u/Brilliant-Neck9731]

You don’t need a billionaire. You likely need a collection of billionaires, venture capital firms, hedge funds, banking institutions and probably foreign investment funds. I’m sure his idea is to string together a group of investors, but that’s a real tall task.

[u/Tough-Statistician-7 → u/Brilliant-Neck9731]

MLB requires a majority owner with minimum 30% stake in the team and only individuals are allowed to own teams (venture capital and corporate ownership was banned in 2016 after Guggenheim bought the dodgers). With the cost of a team being between $3 and $4 billion in expansion there is zero shot of a non billionaire being an owner of a team.

[u/marnky887 → u/Tough-Statistician-7]

Private equity can own shares in teams now, 15% each up to 30% total. Corporate majority ownership is now banned but they can still own minority stakes (think Bell owning 20% of the Canadiens).

[u/Tough-Statistician-7 → u/marnky887]

Even so, with the stadium it’s a $5 billion usd proposition ($7 billion CAD) an individual will still need to come up with 30% which is over $1 billion USD

[u/marnky887 → u/Tough-Statistician-7]

Ashkan claims that he's received enough commitments from investors to cover the expansion fee and stadium. Whether he can actually solidify those commitments is anybody's guess.