Love the idea. Retail investors with an emotional connection to the team are not likely to be the most demanding source of capital
What if you could spend, say, $100,000 to become the owner of two seats behind the dugout in the new Yankee Stadium, due to be completed in 2009?
We are talking not about tickets, but about the seats themselves. They would be your property for as long as the Yankees play at the stadium. And with the sale of these seats, the Yankees would have raised the entire $1.2 billion needed to build the venue.
The Yankees organization, though, isn't the author of this deal.
It's Morgan Stanley and its partner, the start-up Stadium Capital Financing Group, who are behind the plan, and theyâ€™re hoping it will become an accepted way of doing business in sports.