Oakland Ballers Case Study - DealMaker
Case Study

Oakland Ballers Raise $3M+ From Fans, Building a Team the Community Owns

How a new baseball team turned 3,800 fans into owners—and rewrote the playbook for professional sports

$3.2M
Total Raised
3,800+
Fan Investors
9 Days
To Hit Initial Cap
$779
Average Investment

When the MLB's Oakland A's announced their departure from Oakland, California, the community was devastated. Baseball has been a huge part of Oakland's unique culture since the A's first arrived in 1968. Now, suddenly, the city had to say goodbye to a team it had been cheering on for more than 50 years.

That's when two local entrepreneurs saw an opportunity to change the game for Oakland—not just by launching a new team, but by rewriting the rules of professional sports ownership. Instead of another team moving in with a traditional ownership structure, the Oakland Ballers launched with a radically different model: one that made the fans the owners.

Over $3 million later—with thousands of investors and a full stadium to show for it—they've done more than just fill a void. They've sparked a movement.

A Fan-Owned Team, Born in Oakland

Co-founders Paul Freedman and Bryan Carmel created the Oakland Ballers in 2024 with a mission to keep professional baseball rooted in the city. But they didn't just want to launch another team—they wanted to change how teams are owned and operated.

The Ballers' ownership model gives fans a real stake in the team, including voting rights and decision-making power enshrined in a formal Fan Rights Agreement. Their goal? Ensure the team stays by Oakland, for Oakland, forever Oakland.

Paul Freedman, co-founder of the Oakland Ballers, speaking at an event

Paul Freedman, one of the co-founders of the Oakland Ballers.

Powered by DealMaker

To turn supporters into shareholders at scale, the Ballers partnered with DealMaker as their technology provider and capital-raising platform.

  • Their first digital campaign launched on August 21, 2024, with over 3,500 early reservations—creating early momentum when their raise went live.
  • They raised their $1.235M cap in under 9 days, triggering a follow-up offering.
  • In total, they raised $3.2 million from more than 3,800 fan-investors across two community rounds, with an average investment size of $779.
  • Over 80% of early investors were California-based, and more than 20% came directly from Oakland.

All investment flows, compliance documents, and investor governance infrastructure—including fan voting portals—were built and executed on DealMaker.

Strategy Without Spend

The Ballers didn't rely on a big media budget. Instead, they focused on earned media, organic community growth, and one powerful story.

  • During their 'Testing the Waters' campaign, Ballers drew over $8 million in indications of interest from around 3,500 potential investors. Read more
  • Coverage included The New York Times, Forbes, CNBC, Sports Illustrated, and more.
  • Celebrity backers like Green Day's Billie Joe Armstrong and rapper Too $hort helped drive visibility and legitimacy.

With a custom DealMaker landing page and eCommerce-style checkout, conversion rates remained high: in the first 48 hours of the campaign, Ballers attracted a funded investment roughly every 3.5 minutes.

Giving Fans a Real Voice

Investors weren't just given perks—they were given power.

  • The Fan Bill of Rights gave shareholder-fans the ability to vote on critical team decisions, like executive leadership and relocation.
  • A digital Fan Vote Portal, built with DealMaker, let fans elect a "Fan Director" to the team's board—an unprecedented step in pro sports governance.
  • Eleven candidates were shortlisted for the inaugural vote, bringing participatory ownership to life.
  • On December 29, 2024, the Ballers announced the winner of their first-ever fan-investor board member. Read more

Real Impact, Real Numbers

In year one, the Ballers drew nearly 100,000 fans to their games and surpassed $1 million in merchandise sales—clear signs of a community that is showing up and buying in. With a fanbase this engaged, it's no surprise many of them became investors too.

That's not just capital—it's loyalty.

A Blueprint for the Future of Sports Ownership

The Oakland Ballers are more than a baseball team. They're a case study in what happens when you give your community a seat at the table.

With legal and structural safeguards in place to protect fan rights—and a scalable model powered by DealMaker's tech—the Ballers have shown that fan ownership isn't a gimmick. It's a competitive advantage.

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