If you want to treat these investments as debt, and think of yourself as a “creditor”, why not just buy a junk bond? If you want to treat these investments as equity, they are, as a certain owner would say, “shitty.” You’ve got no control and no free cash. And if you want to buy a ballclub, why, by making this investment, decrease the likehood that the Mets will be put up for sale? I don’t know what the extras are, but wow, assuming there is no right of first refusal (express or implied), this seems like a pretty dumb move for an investor to make.

No control, no cash, trivial return, card that says “owner”. Ye gods, let’s not pretend these investors are buying a baseball team. And baseball teams do come on the market — not every day, sure, but Dodgers, Rangers, Astros. Real ownership stakes (majority or meaningful minority interests) do become available.

I implore you, rational investors ten idiots, think twice about what you’re doing.

Not the actual ball club so you’d probably wanna clear that with signore Simon.

Awkward.

you're in