Tuesday, November 27, 2007

Too Many Owners Spoil the Team

Hockey fans will often think that if they were running the team they would do it differently. But the lucky thing is that they aren't heads of Fortune 500 companies.

Sports are unfortunately no longer based on wins and losses, but only on turning a profit. Therefore, an owner of a professional sports team must make payroll to continue along. But if the fans somehow supported a change and took a more active role in managing a team, I would say this is the proletarian uprising.

My Own Hockey Team is looking for investors from hockey fans who are willing to be a stock holder in a business venture to decide to purchase a minor hockey franchise. Here is their mission statement as it is read on their website.
MyOwnHockeyTeam is setting out to create the first fan owned and managed Professional Ice Hockey Team. Web technology allows a group collective thinking and decision making process, making active fan participation a reality.

Together we will purchase a professional ice hockey franchise, and guide it to victory.
I do not believe that this business model will work because there will be too much input and infighting to get anything done. Each trade proposal would first have to clear a stock owners poll and secondly, it would be tough to keep all owners on the same boat by not getting alienated.

Remember that bid that the Tampa Bay Lightning entertained by a plethora of investors? Well, the word is that one investor is suing another for not coming up with his end of the money as well as operating alone according to the article. If this goes on with a smaller group than what MyOwnHockeyTeam is proposing.

One share one vote is the motto for this business model, but did you know that $14 of your $59 donation goes to the maintenance fees of the website which is the two Toronto-based canuckleheads Robbie and Vlad. No mention on the FAQ that the money is refundable should owning a pro team not occur.

Don't bother signing up with this, dear readers. It sounds like a big scam to me.
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