Fan-Operated Organization Requests Application From Major League

Tags:: 4 Fans Sake Chicago Cubs Community-based Ownership Models Multivu 29102

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Updated: 26-Nov-09
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FAN-OPERATED ORGANIZATION REQUESTS APPLICATION FROM MAJOR LEAGUE BASEBALL TO PURCHASE THE CHICAGO CUBS

Chicago-Based 4 FANS SAKE Proposes Proven
Community-Based Ownership Model

4 Fans Sake, a Chicago-based organization led by passionate baseball fans, today announced it has requested the application materials necessary to begin the process of a fan purchase of the Chicago Cubs. The group is advocating a community-based ownership model similar to the one that the NFL's Green Bay Packers has thrived under since the 1920's.

Under the community-based ownership model, Cubs fans would finally have a true voice in the way their team is operated. The fans would fund the purchase of the team through a stock offering, and would acquire voting rights in the selection and control of the team's governing board of directors.