Fans May Get Chance To Own Teams
Want a piece of your local team? It looks like you may be able to buy some soon.
Baseball owners are set to vote next month on a proposal that would allow public ownership of teams, and it appears the plan will be approved.
However, don’t plan a takeover yet. Even if some teams do sell shares publicly, they’re sure to put in plenty of anti-takeover provisions. For instance, when H. Wayne Huizenga took the NHL’s Florida Panthers public, he made sure he controlled nearly all the shares with voting power.
Small-market teams are looking for public money as a way to stay solvent. Large-market clubs could use the money for two purposes: profits for investors and capital to sign more free agents.
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