New MLB Bid for Raleigh: Competition or Collaboration With Dundon?

Marc Lasry, the billionaire co-founder of Avenue Sports Fund, has expressed an interest in bringing a Major League Baseball team to Raleigh, North Carolina. While Carolina Hurricanes owner Tom Dundon has long championed the Triangle as a destination for an MLB franchise, Lasry’s entry into the conversation as a deep-pocketed investor could reshape the region’s expansion bid. The development comes as the Raleigh area continues to experience significant growth, with the population rising by 25% over the last decade.

Did You Know? The Raleigh area has grown by 25% over the last 10 years, and the broader Triangle region now counts 2.2 million residents, a key metric for potential professional sports expansion.

The Competitive Landscape of Potential Ownership

Lasry’s interest introduces a new dynamic for local sports infrastructure. Having already invested $40 million into the NC Courage, Lasry views Raleigh as a prime market. While he stated a preference for majority or controlling ownership should a team land in the area, he acknowledged that he and Dundon, who is currently focused on the Portland Trail Blazers and the Hurricanes, are acquaintances. Lasry noted that if the two need to team up to satisfy MLB requirements for a strong ownership group, he would be open to the collaboration.

Expert Insight: Samantha Carter notes that while expansion is rarely a quick process, the presence of multiple wealthy investors can signal confidence to league officials. The primary hurdle remains the steep financial barrier to entry, which includes both a massive expansion fee and the construction of a stadium—a combined baseline estimated at $4 billion.

Infrastructure and the Path to Expansion

Major League Baseball has not expanded since 1998, and Commissioner Rob Manfred has indicated a desire to select two new cities before his planned retirement in January 2029. Raleigh faces stiff competition from other cities, including Nashville, Salt Lake City, and Vancouver. Success for the Triangle may depend on the ability to develop a sports-anchored entertainment district, similar to the “Deer District” Lasry helped cultivate in Milwaukee. Locally, the Downtown South project remains a vision for a mixed-use development, while the Hurricanes are moving forward with their own plans for an entertainment district surrounding the Lenovo Center.

What May Happen Next

The timeline for MLB expansion remains uncertain, with some owners expressing skepticism about the economics of adding smaller markets in the immediate future. Furthermore, a potential labor dispute looms; the current collective bargaining agreement between owners and the players’ association expires at the end of the season. Negotiations over a proposed salary cap could be contentious, potentially impacting the 2027 season. For Raleigh, the next steps involve continued efforts to secure financing, potentially through measures like an increased hotel occupancy tax, and waiting for the league to formally open the expansion process.

Tom Dundon is doing the math to see if MLB makes sense in Raleigh

Frequently Asked Questions

Who is Marc Lasry?
Marc Lasry is the 66-year-old co-founder and CEO of Avenue Sports Fund, which manages assets of approximately $13 billion. He is a billionaire with previous ownership experience in the NBA’s Milwaukee Bucks.

How does Tom Dundon fit into the baseball bid?
Tom Dundon, owner of the Carolina Hurricanes, has been the primary figure spearheading efforts to bring an MLB team to North Carolina. His business executive, Brian Fork, stated that while they were unaware of Lasry’s specific interest, they are open to working with any partners who can help secure a franchise.

What is the primary obstacle to landing a team?
Beyond the competitive nature of the bidding process, the primary challenges are the high cost of entry—estimated at $4 billion for a franchise and stadium—and the pending labor negotiations between MLB and the players’ association.

Do you believe a professional baseball team is the missing piece for the growth of the Raleigh sports market?