May 3, 2001
Why is the sports world limited to individual team owners and partnerships? What’s to prevent John Henry from incorporating the Marlins and offering shares on the market? Would there not be loads of Marlin fans and just plain investors willing to embark on such and enterprise? Why not the South Florida cities themselves buy Marlin bonds as a profitable investment, rather than a give away?
No owner should expect that his/her ego investment be supported from sources other than the gate. No owner should buy a franchise without a stadium that is either owned by the franchise or land lorded by a city willing to make modifications that would tangibly — such as a retractable dome — increase attendance but for a price, not a give-away.
In addition every millionaire ball player must buy X # of shares or bonds tagged to the bucks he makes. Too bad he might be a journeyman; but at least he’s diversifying his investments.
Update! July 18, 2002
Baseball owners, though I do not bless their hearts, should not settle for anything less than a cost of living index for salaries and further, 15 % of all salaries above $2 million should be paid in franchise stocks and bonds.
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Richard R. Kennedy
7144 Woodmont Avenue
Tamarac, FL 33321-2635
