The Oakland A's are leaving the city, but a new baseball team is trying to fill the void. Here's an exclusive look at the pitch deck the Ballers used to raise $2 million.

The Oakland Ballers raised $2 million from 53 individual investors. The team is a part of the Pioneer League, an MLB independent partner league.

"We put together a baseball team from a standing start," CEO Paul Freedman said. Since their founding in June 2023, the Ballers have had to recruit a team of free-agent players and work with the city to upgrade a public park to seat 4,000 fans. The team, which makes money from ticket sales, concessions, merchandise, and sponsorships, just kicked off their first full season last month.

What's unique about the Ballers is their focus on the fan experience. In contrast to MLB teams, the Ballers' players spend more time with fans, signing autographs and handing out rally towels. The Pioneer League also incorporates novel rule changes and knockout rounds to keep fans engaged. The Ballers' long-term goal is to build a media brand around the franchise.

"This was the hardest thing I've ever done," Freedman said. Before founding the Ballers, Freedman was a serial entrepreneur in the human capital and education sectors. He sold his latest startup to the edtech giant Guild Education. Freedman cofounded Ballers with Bryan Carmel, a writer, producer, and showrunner in the media industry. The pair met while in high school in Oakland three decades ago.

"There is a role that a sports team plays in a community. It acts as the center of gravity that brings people together," Freedman said. "When the A's decided to leave, it was a huge disappointment."

But Freedman and Carmel recognized an opportunity. Oakland is a part of the 10th biggest media market in the US, and the city has been home to professional baseball for 56 years.

Freedman prioritized fundraising from individual investors representing the community instead of institutional investors. The cofounders met with over 200 investors to close $2 million in funding from 53 investors, with an $8,900 investment minimum per investor, a nod to the last time the A's won the World Series in 1989, Freedman explained.

Michael Fitzgerald, who immigrated from Ireland and works in the construction industry, is a big sports fan. He invested in the Ballers because he believes the team could bring the community together. "Getting close to a team here was interesting to me."

Another investor, Gagan Biyani, cofounder of learning platforms Maven and Udemy, is a Bay Area native who grew up attending A's games. Biyani invested in Ballers because he recognized how the team could replace the void left by the departure of Oakland's three major sports teams. "The Ballers' upside case is to become a bonafide sports franchise."

Investors are beginning to take notice of upstart sports franchises. Kara Nortman, previously at Upfront Ventures, started a sports fund called Monarch Collective to invest in women's sports after cofounding Angel City Football Club, a Los Angeles women's soccer team. Angel City also counts Alexis Ohanian, Serena Williams, and Natalie Portman as investors. Last June, Ohanian and Williams and her sister Venus bought the first golf team for TGL, a new league developed by golf greats Tiger Woods and Rory McIlroy.

"We're a minor league team in a major league market," Freedman said. "We can punch well above our weight."

Check out the 15-slide pitch deck the Ballers used to raise $2 million: