Video: Fan-Operated Organization Requests Application From Major League Baseball to Purchase the Chicago Cubs |
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By: 4 Fans Sake Posted: 2007-08-02 11:02:12 |
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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.
(Photo: http://www.newscom.com/cgi-bin/prnh/20070802/LATH076 ) To view the Multimedia News Release, go to: 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. "Today is not an easy time to be a sports fan, and I feel strongly that the community-based ownership model is the ideal way to forge a strong bond between the game of baseball, in this case the Chicago Cubs organization, and its legions of loyal fans," said Chicago businessman Eric Majeski, Chairman of the 4 Fans Sake initiative. "This ownership model has flourished for more than 80 years in Green Bay, and it has also found success in minor league baseball and European Soccer. There is no doubt that the ideal stewards for the future of the Chicago Cubs are the fans of the team." Rob Zerjav, President of the community-owned Wisconsin Timber Rattlers minor league baseball club said "Like the Green Bay Packers, the Timber Rattlers have proven that the community-based model can thrive in professional sports. And with a global-brand and passionate fan base, I'd expect that the model would thrive in Chicago with the Cubs." The 4 Fans Sake model is built on generating community welfare - Majeski and the organization will not profit from the sale of the Cubs. All net profits beyond the amount necessary to purchase the franchise will be re- invested into Chicago and its surrounding community. Further, once under the community-based ownership structure, a portion of the team's annual net profits would be donated to charitable and community organizations in and around the City of Chicago. "4 Fans Sake is organizing this movement out of a sheer love for the game of baseball," added Majeski. "Baseball is a part of American history, and the sport wouldn't exist today without the passion and love of its fans. We believe that Cubs fans will relish the opportunity to own a share of their team, to affect change in the way it's operated, and to feel some small part of giving back to the Chicago community." Cubs fans interested in joining the 4 Fans Sake movement are encouraged to visit http://www.4Fanssake.com and engage in a discussion about the community-based ownership of the Cubs. The Web site also features 4Fans Sake news, including information on the sale of shares, fan blogs, and upcoming charitable events. ABOUT 4 FANS SAKE Chicago-based 4 Fans Sake is a d/b/a of Fan Universe, Inc., a fan-operated movement dedicated to forging a lasting bond between the Chicago Cubs organization and its fans via community-based ownership of the team. Founded by fans out of sheer love for the Cubs and the sport of baseball, the 4 Fans Sake plan is based on other highly-successful fan ownership models. The group is dedicated to building a Chicago baseball community that perpetually gives back to the City of Chicago and contributes generously to charitable causes. For more information, visit http://www.4fanssake.com. |
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