My crazy idea: let the FANS own the D-Backs
(The following was posted to the official D-Backs message board as an ongoing response to the announced uniform change.)
As you all know, I am not a supporter of managing general partner Ken Kendrick. I have been in disagreement over many things about the Diamondbacks but the announcement of the color and uniform change was the last straw for me. Adding insult to injury as a fan. You folks know how I feel by now, if not, go back and read my posts the last day or so.
So I wondered aloud on another thread if the D-Backs would be better off under a new majority owner such as an Ira Fulton or an Eddie Basha, men with strong local ties and just as respected here in this state as Jerry was.
But I started thinking...
Why not have the fans own the Diamondbacks?
Why can't WE, the FANS, be the owners?
Why can't we send a message to the Major League Baseball powers that be that baseball is first and foremost a PASTIME for the enjoyment and edification of the FANS?
Yes, baseball is structured as a business. Some of you were quick to point that out. But the problem with the entire sport of baseball, IMO, is that we have too many greedy businessmen running the teams. Businessmen who put profit and maximizing revenue above the greater good of the sport. Steinbrenner is building New Yankee Stadium as we speak and not one cent of those revenues from the new, modern, state-of-the-art facility is going to be shared with the Diamondbacks or any other franchise in baseball. Major League Baseball right now is "every team for himself and if you don't have the money, it suxxx to be you" which is IMO just plain unfair and runs against the idea of sportsmanship and the ideals of a level playing field and making things fair for all - ideals I think we all agree we want our kids to learn.
The Green Bay Packers, the legendary NFL team, are the only major professional sports franchise in this country organized all by itself as a publicly traded company. The Packers have shareholders. They incorporated in 1923 and had IPO's from time to time to raise money. Their latest IPO raised the money to renovate Lambeau Field.
Why can't we use the Packers as our model and form a new Diamondbacks, a democratically elected Diamondbacks, and take our team back from the KenCo's? Why can't the Diamondbacks be the People's Team???
I know of no restriction in the rules of Major League Baseball that would prevent this, and the other owners of the teams have no reason to object as other clubs are owned by publicly traded companies:
Atlanta Braves [Time Warner]
Chicago Cubs [Tribune Company]
Seattle Mariners [Nintendo of America]
Toronto Blue Jays [Rogers Communiations]
How it would work:
Forbes Magazine listed the Diamondbacks as having a franchise value of $305 million. (reprinted in the Phoenix Business journal, April 21, 2006). If the team were put up for sale today that would most likely be the asking price.
A corporation could be formed for the express purpose of raising funds to buy the team outright. Call it "Purple Baseball Corporation (PBC)". Shares of PBC stock can be issued that combined, add up to the total sale price of the franchise.
I am using the Packers as an example.
Priced at $200 per share (or whatever), fans can buy enough shares of PBC during an IPO that could last the offseason. Prospectus and other info could be sent to season ticket holders, MVP Rewards members, etc., and the IPO should be heavily promoted in the news media, on ESPN, FSN, etc. The coverage on ESPN alone would generate interest from thousands of fans across this country.
First priority would be given to residents of the Diamondbacks territory as defined by Major League Baseball which I think is the entire state of Arizona and possibly parts of Nevada, Texas and New Mexico.
(The rest is semi-verbatim from the Packers article on Wikipedia.) Shares of stock would include voting rights, but the redemption price is minimal, no dividends are ever paid, the stock cannot appreciate in value, and stock ownership brings no season ticket privileges.
No shareholder may own over 200,000 shares, a safeguard to ensure that no one individual can assume control of the club. To run the corporation, a board of directors would elected by the stockholders. (my note: have the annual meeting at Chase Field each year.) The board of directors in turn elect a seven-member Executive Committee (officers) of the corporation, consisting of a president, vice president, treasurer, secretary and three members-at-large. The president is the only officer to draw compensation; The balance of the committee is sitting "gratis."
(Now my comments again) Once this PBC would be established, the team would be purchased and operations would continue under the corporation with the team president being the CEO and the public face of the corporation.
All this could be done in time for spring training, people.
That is assuming the other partners would sell and the other MLB owners approve the sale.
Does this make sense? Why or why not? Let's debate this one.
As you all know, I am not a supporter of managing general partner Ken Kendrick. I have been in disagreement over many things about the Diamondbacks but the announcement of the color and uniform change was the last straw for me. Adding insult to injury as a fan. You folks know how I feel by now, if not, go back and read my posts the last day or so.
So I wondered aloud on another thread if the D-Backs would be better off under a new majority owner such as an Ira Fulton or an Eddie Basha, men with strong local ties and just as respected here in this state as Jerry was.
But I started thinking...
Why not have the fans own the Diamondbacks?
Why can't WE, the FANS, be the owners?
Why can't we send a message to the Major League Baseball powers that be that baseball is first and foremost a PASTIME for the enjoyment and edification of the FANS?
Yes, baseball is structured as a business. Some of you were quick to point that out. But the problem with the entire sport of baseball, IMO, is that we have too many greedy businessmen running the teams. Businessmen who put profit and maximizing revenue above the greater good of the sport. Steinbrenner is building New Yankee Stadium as we speak and not one cent of those revenues from the new, modern, state-of-the-art facility is going to be shared with the Diamondbacks or any other franchise in baseball. Major League Baseball right now is "every team for himself and if you don't have the money, it suxxx to be you" which is IMO just plain unfair and runs against the idea of sportsmanship and the ideals of a level playing field and making things fair for all - ideals I think we all agree we want our kids to learn.
The Green Bay Packers, the legendary NFL team, are the only major professional sports franchise in this country organized all by itself as a publicly traded company. The Packers have shareholders. They incorporated in 1923 and had IPO's from time to time to raise money. Their latest IPO raised the money to renovate Lambeau Field.
Why can't we use the Packers as our model and form a new Diamondbacks, a democratically elected Diamondbacks, and take our team back from the KenCo's? Why can't the Diamondbacks be the People's Team???
I know of no restriction in the rules of Major League Baseball that would prevent this, and the other owners of the teams have no reason to object as other clubs are owned by publicly traded companies:
Atlanta Braves [Time Warner]
Chicago Cubs [Tribune Company]
Seattle Mariners [Nintendo of America]
Toronto Blue Jays [Rogers Communiations]
How it would work:
Forbes Magazine listed the Diamondbacks as having a franchise value of $305 million. (reprinted in the Phoenix Business journal, April 21, 2006). If the team were put up for sale today that would most likely be the asking price.
A corporation could be formed for the express purpose of raising funds to buy the team outright. Call it "Purple Baseball Corporation (PBC)". Shares of PBC stock can be issued that combined, add up to the total sale price of the franchise.
I am using the Packers as an example.
Priced at $200 per share (or whatever), fans can buy enough shares of PBC during an IPO that could last the offseason. Prospectus and other info could be sent to season ticket holders, MVP Rewards members, etc., and the IPO should be heavily promoted in the news media, on ESPN, FSN, etc. The coverage on ESPN alone would generate interest from thousands of fans across this country.
First priority would be given to residents of the Diamondbacks territory as defined by Major League Baseball which I think is the entire state of Arizona and possibly parts of Nevada, Texas and New Mexico.
(The rest is semi-verbatim from the Packers article on Wikipedia.) Shares of stock would include voting rights, but the redemption price is minimal, no dividends are ever paid, the stock cannot appreciate in value, and stock ownership brings no season ticket privileges.
No shareholder may own over 200,000 shares, a safeguard to ensure that no one individual can assume control of the club. To run the corporation, a board of directors would elected by the stockholders. (my note: have the annual meeting at Chase Field each year.) The board of directors in turn elect a seven-member Executive Committee (officers) of the corporation, consisting of a president, vice president, treasurer, secretary and three members-at-large. The president is the only officer to draw compensation; The balance of the committee is sitting "gratis."
(Now my comments again) Once this PBC would be established, the team would be purchased and operations would continue under the corporation with the team president being the CEO and the public face of the corporation.
All this could be done in time for spring training, people.
That is assuming the other partners would sell and the other MLB owners approve the sale.
Does this make sense? Why or why not? Let's debate this one.
posted by Michael Sheldon Reed at 3:59 PM
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