What are you trying to do?

Develop a path for fan-ownership in the MLB team being recruited to Portland.

The long game ➞ We are building generational community. Wildly passionate baseball fans, spanning all walks of life, bound by a social and financial stake in the hometeam. 

Is this really feasible?

100%. We’re not even first up. 

The leaders are on the pitch. Detroit City FC, Minnesota Women’s Soccer, and even Manchester United all have fans with some stake in the team they love. In 2019, Chattanooga FC became America’s first soccer team to offer fans true ownership.

The Chattanooga model ➞ They used a financial vehicle called regulation crowdfunding (Reg CF) permitting a company to raise up to $5 million from unaccredited investors (read: fans) in a 12-month period. At the close of the month-long campaign, 3,254 fans across all 50 US states and 30 countries invested nearly $900,000 in this innovative third-tier professional soccer team.

Why not the Packers model?

Most cheesehead fan-owners can tell you exactly where they were when they received their stock ownership certificate. It’s mantel material. Unfortunately, based on restrictions and redemption rights in the corporation’s articles and bylaws, it’s virtually impossible to realize a profit.

Final score ➞ Green Bay Packers’ owners have an amazing shareholder experience unlike anything in a major 5 sport in America. They’ve given us the most comparable fan case-study. We want what they’ve built, with equity.

Are you affiliated with the Portland Diamond Project (PDP)?

As of now, we are independent organizations working in parallel, but not partnership. 

We believe our work is a compliment to and potential accelerator for the PDP.  We chose our name—leading with People—to underscore what we bring to the game.

What’s the total you’re trying to raise? 

We are targeting a $100 million raise from small-dollar, fan-owners.

The average MLB franchise currently valued at around $2 billion (Forbes)—putting us approximately 5% ownership.

How much per share? 

The current plan is around $100, but that may change. The driving appeal of equity crowdfunding is that it is accessible to most; our decision will be informed by the people.

Quick math ➞ 1 million people at $100 per person hits $100 million. Half of Americans claim a love of baseball (Gallup). With 4 million people in Oregon alone, the field is groomed.

Regulations Crowdfunding caps at $5 million annually—how do you get to $100 million?

We have options. One promising route similar to Reg CF is called Reg A+. It allows for a $75 million cap with additional SEC oversight. We’re also exploring routes involving fan-owner tokens. 

If fan equity shifts power and control from majority owners—why let us in? 

Might a few percent fan-ownership influence decision-making? Yes.

Enough to irritate the big money owners when they make a move the fans don’t like? Definitely.

Enough to threaten the 1%? Of course not.

To the contrary ➞ We believe MLB owners are currently leaving money on the table. There is simply no greater engagement tactic than literally letting fans buy-in. 

Who’s behind this effort?

Four regular, wildly devoted, MLB fans that love baseball and this city. We work in unrelated fields and volunteer to bootstrap this passion project.