4 Fans Sake Requests Application from MLB to Purchase the Chicago Cubs
4 Fans Sake, a Chicago-based organization led by passionate baseball fans, 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.
“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.