Friday, February 1, 2008

Buying Low: Minor Leaguer Takes Stock of Himself

Randy Newsom, a reliever last season for the Cleveland Indians’ Class A and AA affiliates, set up a Web site through which fans and other outsiders could purchase a piece of his future major league earnings. Through Thursday, Newsom had sold about 1,800 shares of himself at $20 apiece. Each share afforded the bearer .002 percent of his career pay, uniting his goals with investors who hope he makes it big.
Dozens of minor leaguers had expressed interest in also going public through Newsom’s new company, Real Sports Investments, he said. Unfortunately for Newsom, however, his plan did not exactly thrill M.L.B., the players union or the Securities and Exchange Commission.

NY Times

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