I tried to post in this thread http://www.wallstreetoasis.com/blog/the-money-leag... , but it's so old that nobody noticed/cared.
Inspired by this story http://www.bloomberg.com/news/2014-08-19/harvard-w... : Do these minor league sports team owners get a decent cash-on-cash return? Or are they just hoping for further multiple expansion based on increased hype later on?
One of the investors there is HWS ( http://www.hwsgroup.com ), whose website includes a quote: "Warren Buffett owns a 25% stake in the Omaha Storm Chasers, the Kansas City Royals' AAA farm team...Robert E. Rich Jr., who made his $2.1 billion with food conglomerate Rich Products, owns the Buffalo Bisons; Herb Simon, chairman and director of Simon Property - the nation's largest publicly traded real estate investment trust - is a co-owner of the Reno Aces. Why would some of the nation's wealthiest men be interested in owning [minor league] professional sports teams? Simple: it's smart business."
and a link to a Forbes article ( http://www.forbes.com/sites/chrissmith/2012/06/08/... ), which I assume explains theq uote but am too lazy to read.