tag:blogger.com,1999:blog-7464708.post3353624919580002066..comments2024-03-22T06:05:36.544-04:00Comments on Kids Prefer Cheese: Hot Links!Mungowitzhttp://www.blogger.com/profile/02340064320347875601noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7464708.post-54180491669800783602010-11-29T14:23:52.535-05:002010-11-29T14:23:52.535-05:00Interesting. Re: Pujols. I recall that when Magi...Interesting. Re: Pujols. I recall that when Magic Johnson retired the first time he had some small share of ownership in the Lakers, but when he un-retired he had to sell that stake in order to re-join the NBA players' association.<br /><br />(Some of the below may also be in the article -- all I can read is the teaser)<br /><br />Professional sports is an odd field in that (a) labor/management conflicts are fierce, (b) labor is well-compensated, and (c) franchises are privately owned.<br /><br />In the regular economy, almost everyone compensated with a significant ownership stake is a part of management. In sports, a player with an ownership share would be caught in the middle of labor dispute--would Pujols-with-shares support growing player compensation (increasing his salary at the cost of corporate profits) or holding down player salaries (taking less salary now for more long-term profits)? <br /><br />(Further -- what is the relationship between an ownership stake and free agency? Is a player who takes an ownership share effectively closing out any opportunity for free agency?)<br /><br />And because the franchises are privately owned, ownership stakes are not liquid -- the capital gain is purely theoretical unless/until there is an opportunity to sell the shares at a profit.Dirty Daveyhttps://www.blogger.com/profile/07908818235405186822noreply@blogger.com