The Oakland Ballers announced on Thursday that they are launching a community investment campaign, one that will allow fans to not just invest economically in the Independent League team, but have input regarding key team decisions — decisions that include location, branding and, potentially, some front office hirings.
“We were started under the core belief that fans create value for sports teams,” co-founder Paul Freedman told Bay Area News Group. “That’s what we’ve believed from the very beginning. We think that this model, for the first time, connects value with value. We think we’re going further than any team has — to our knowledge — in giving fans not just economic rights, but a bundle of other rights that gives them a seat at the table and ability to have their opinions felt on the operations of the team.”
The concept of community ownership is not new, employed by teams such as the Green Bay Packers, Real Madrid, Oakland Roots SC and Orange County SC. The B’s say their plan differs from other models. Some teams offer either economic rights or decision-making power, but the Ballers plan to offer both.
Freedman said the B’s, in the midst of their first year in the Pioneer League while the A’s play their last season in Oakland, have wanted to implement community ownership from the very beginning, but the team had to work through a variety of rules and regulations before launching the endeavor.
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“Oakland is just the latest example of a systemic problem with how pro sports teams are run in the United States,” said fellow co-founder Bryan Carmel in a statement. “Over the past 80 years, more than 30 teams have moved, leaving fans heartbroken and powerless. Team owners often hold fans hostage, demanding public money for new stadiums, and if they don’t get it, they move the team to a different city that’s willing to pay up.
“Even if you’re not an Oakland sports fan, you get our frustration because we’ve all seen something we love taken away for someone else’s gain. The Ballers believe there’s a better way and that Oakland’s the perfect place to make it happen. That’s why we’re excited to unveil a new sports ownership model, one that we hope will signal a positive change in how things are done.”
According to Freedman, Thursday will mark the beginning of a “testing-the-waters” phase. Fans can register, express their interest and say how much they might be interested in investing.
In about four weeks, a Schedule C document will be created that describes, in detail, the offering and all elements of the investment. At that point, fans can decide whether or not they would like to invest.
“There’s this question of, ‘Who’s supposed to pay? Is it the taxpayers? Is it the community? Is it the team?’” Freedman said. “Our answer is if you’re providing a good team and a good product, then let the fans have some skin in the game. Give them a real seat at the table and the ability to make decisions.”
Those interested in investing can visit invest.oaklandballers.com.
