Someone on Twitter pulled out this quote from the article and I think it is an interesting topic to explore: "The Dodgers had operating income of $95 million last season, the most in baseball. Such richness is a plus when, as in the case of the Dodgers, the owners are in the process of selling small stakes in the team to limited partners. The new investors will pay more if they believe a dividend is more likely than a capital call." There may be owners out there like Balmer or Cuban who aren't worried about the YTY profitability of the team and only about the appreciation of the team, but there are probably an increasingly number of minority investors that want to see a return on their investment because they want the cash flow every year. Do we know anything about how many minority investors there are in the Brewers? That may give us more of a sense of whether there is an appetite to stomach operating at a loss and going "all-in." If the minority investors are expecting a dividend, they are not going to be too pleased if Mark A says nothing is coming. Well, they don't have to like it. Attanasio is the majority owner. They really don't have any recourse. It would be interesting to see how fans would react if they could actually invest in the team. AS though the stock in Green Bay was a real stock. I wonder how many fans would rather they not sign those free agents so they got a few thousand dollars more from their dividend. Totally different situation comparing working class people to those wealthy enough to purchase even a minority stake into a major league baseball team however. I'm curious what the profile of the minority owners are. I wonder if they're the type that have a decent chunk of their wealth in the club so they can brag to their golf buddies, or more serious investors that believe sports franchises offer the most growth opportunity. I would have guessed it be the former, but that Twitter quote gives me pause. In either case I'm guessing they're more risk averse than Mark. So when he has to decide about taking risks, he needs to consider not only about making the most logical business decisions, but also how he'll sell the decision it to the minority owners. He could always take a nuclear option and completely disregard their opinion, but I don't see Mark as one that would jeopardize his reputation in the business world. I also wonder how leveraged the current owners of the Dodgers are. Maybe them looking to minimize their risk by selling off non-essential pieces of their ownership, and reducing their vulnerability is more of a driver of operating income than maximizing their ROI on the sale.