A savvy entrepreneur might make a bundle by bringing another minor league team to Richmond and running the entertainment business. Profit margins can approach 20%.
And according to a great profile in the latest Portfolio Magazine, owning a minor league team is the hot thing for celebs. Might that apply locally??
“Over the past decade, owning a minor league team has become the toy of choice among wealthy business people and are known for performing better financially than their major-league parents. The teams are relatively cheap, costing anywhere from $1 million to $25 million.”
Outsted Sony CEO Peter Guber owns a handful of teams. “Today, Guber relies on his own scouts to find cities that are in the market for a team,” writes Bob Drury.
In most cases, municipalities build spanking new stadiums before Guber will relocate a team. That could be dicey in Richmond.
For an informative read on how fast some teams can relocate, read this.
A savvy entrepreneur might make a bundle by bringing another minor league team to Richmond and running the entertainment business. Profit margins can approach 20%.
And according to a great profile in the latest Portfolio Magazine, owning a minor league team is the hot thing for celebs. Might that apply locally??
“Over the past decade, owning a minor league team has become the toy of choice among wealthy business people and are known for performing better financially than their major-league parents. The teams are relatively cheap, costing anywhere from $1 million to $25 million.”
Outsted Sony CEO Peter Guber owns a handful of teams. “Today, Guber relies on his own scouts to find cities that are in the market for a team,” writes Bob Drury.
In most cases, municipalities build spanking new stadiums before Guber will relocate a team. That could be dicey in Richmond.
For an informative read on how fast some teams can relocate, read this.