4 Fans Sake Recent Press Release
FOR IMMEDIATE RELEASE
Media Contact:
Eric Majeski
4 Fans Sake
info@4fanssake.com
4 Fans Sake Model Approved by Major League Baseball
Major League Baseball Agrees to Proposed Ownership Model Allowing Fans to Own Majority of the Chicago Cubs
CHICAGO, September 25, 2007 - In a first-ever nod of approval to a new method of team ownership, Major League Baseball approved The 4 Fans Sake Model which would allow the fans to own the majority of a professional baseball team.
For the past several months, 35 year-old business owner and entrepreneur Eric Majeski has been sharing his vision for community ownership of the Cubs with the city of Chicago. The structure for his model, which is loosely based on the Green Bay Packers model, allows fans to purchase shares of the team and allows share-holders to be elected to the teams’ governing board.
On Wednesday September 5, 2007, MLB accepted the proposal of the 4 Fans Sake Model. Chris Martell of J.P. Morgan reported on behalf of MLB’s commissioner stating that they were comfortable with this proposed model. This model allows for the majority of a Major League Baseball team to be owned by the fans. The accepted model guarantees that the “super-majority of the voting rights be held by a small group (approximately 20) of investors.” There must also be one investor recognized as the “lead owner.” The 4 Fans Sake Model provides 45 board members with seven elected officials, one of which is assigned the role of President. This would provide MLB with seven main contacts and one identifiable figure head.
Since the news from MLB, 4 Fans Sake has been in contact with several potential bidders for the Cubs in attempt to include the fans in ownership. “Adoption of The 4 Fans Sake Model would prove beneficial for any prospective owner,” says Adamo Busacca Director of Business Development at 4 Fans Sake. “The model gives Cubs fans partial ownership of their passion and provides any investor with monetary assistance as well as unlimited fan support.”
MLB’s acceptance of The 4 Fans Sake Model marks an incredible breakthrough for team ownership and a remarkable sign of respect for baseball fans from MLB herself.
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