Zemi 1st project 2012
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This document discusses the concept of public ownership of sports franchises, examining examples like the Green Bay Packers, Boston Celtics, Florida Panthers, and Cleveland Indians. It outlines the pros and cons, noting that while public ownership can allow fans to be involved, there are questions around the investment value and whether fan money is being exploited without a balance of power with owners. The document concludes that the main issue is not the viability of public ownership, but how it has been implemented without purity or synergy in many cases.
Zemi 1st project 2012
- 1. Public Ownership of Sports Franchises : Investment, Novelty, or Fraud? Eugene J. Stroz, Jr;
- 2. Introduction What is Public ownership? Advantages Disadvantages Investment Bank
- 3. The Green Bay Packers The first offering stock 1923. Stock price 祉祉 5$ 200$ No dividends & minimal voting rights No benefits besides receiving a certificate & annual meeting
- 4. Boston Celtics 1986 only NBA team to sell shares in a public offering Different from Packers: 1.Dividends 2.Sell shares 3.No voting right 4.No limitation in use of proceeds
- 5. The Florida Panthers Differences: A traditional Investment 1.Minimum purchase of 100 shares 2.Diversified operation 3.Attract investors rather than fans Similarities 1.No dividends 2.Restricted share holder rights
- 6. The Cleveland Indians 1998 Indians offered stocks to public owner Similarities 1.No dividends 2.Minimal voting rights 3.Proceeds in principle owner pocket Differences 1.Indirect investment
- 7. Pros & Cons of Public ownership Pros 1.Better than holding a city hostage 2.Fans can be a part of the team 3.Full Disclosure to protect buyer
- 8. Cons 1.No physical invest value 2.Fans are exploited for their money. 3.The lack of balance between owner & share holders The fundamental problem with public ownership of sport franchises lies not in its viability (..) but rather with its implementation, its impurity, and its startling lack of synergy
- 9. Investment, Novelty, or Fraud Different from regular investment Certificate as a novelty item, social personal value Where does investors money go?