Out of the Truck and onto Wall Street
If you've ever been to a major league spring training camp, you notice there are lots of baseball players around. Not just major league ballplayers, but the entire minor league system as well. Currently, there are 56 players in the Indians' major league camp, trying to make the final big league roster. At the same time, there are over a hundred minor leaguers off on side fields working out and doing all the drills the big leaguers are doing, and one that really sticks out is Randy Newsom.
The 25-year-old Newsom wouldn't really stand out in a crowd at minor league camp, but his story does. Newsom, who pitched at Kinston (A) and Akron (AA) in 2007, began selling stock in his career before spring training began. That is correct, through the end of January, and one could purchase a share in his future big league earnings at the price of $20 per share, which would entitle the investor .0016 percent of Newsom's future major league earnings.
The idea is very interesting, so interesting it raised a red flag with Major League Baseball and the Player's Association and was tabled before Newsom reported to spring training in Winter Haven. But before Newsom closed the sales on his website RealSportsInvestments.com, he had sold approximately 1,800 shares of his career. The original limit was 2,500 shares with a cap of $50,000 is sales, so he sold over 70% of his stock before baseball intervened. And not to say the sales are done; Major League Baseball, the Players' Association and the SEC (Securities and Exchange Commission) are examines ways to make this happen that satisfies all parties. What could follow after that could become very interesting, with fans REALLY becoming fans of their favorite minor league prospects by purchasing stock in them.
Newsom is the first to try, and he is a very bright and well-spoken ballplayer. His stats are not bad either. The 6'2, 200-pound right-handed submariner went 4-2 with 2.80 ERA and 18 saves in 57 games, and made the Eastern League All-Star team. He's one of those interesting stories to follow throughout the season, but his Wall Street story may be even more interesting.
The 25-year-old Newsom wouldn't really stand out in a crowd at minor league camp, but his story does. Newsom, who pitched at Kinston (A) and Akron (AA) in 2007, began selling stock in his career before spring training began. That is correct, through the end of January, and one could purchase a share in his future big league earnings at the price of $20 per share, which would entitle the investor .0016 percent of Newsom's future major league earnings.
The idea is very interesting, so interesting it raised a red flag with Major League Baseball and the Player's Association and was tabled before Newsom reported to spring training in Winter Haven. But before Newsom closed the sales on his website RealSportsInvestments.com, he had sold approximately 1,800 shares of his career. The original limit was 2,500 shares with a cap of $50,000 is sales, so he sold over 70% of his stock before baseball intervened. And not to say the sales are done; Major League Baseball, the Players' Association and the SEC (Securities and Exchange Commission) are examines ways to make this happen that satisfies all parties. What could follow after that could become very interesting, with fans REALLY becoming fans of their favorite minor league prospects by purchasing stock in them.
Newsom is the first to try, and he is a very bright and well-spoken ballplayer. His stats are not bad either. The 6'2, 200-pound right-handed submariner went 4-2 with 2.80 ERA and 18 saves in 57 games, and made the Eastern League All-Star team. He's one of those interesting stories to follow throughout the season, but his Wall Street story may be even more interesting.
posted by Murph at
12:42 PM
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