Looking to buy a sports team? Try perusing Craigslist.
Cedar Rapids Titans co-owner Jim Polaski posted an ad on the online marketplace announcing that his shares of the Indoor Football League team were up for sale, according to Iowa newspaper the Gazette.
Scroll down to see the ad.
The ad, which listed the price of the team at $80,000, has since been taken down. The Titans' General Manager and co-owner Chris Kokalis reportedly said he hopes the person who buys Polanski's shares wouldn't be the type to put his ownership stake up for sale on Craigslist.
"We’re obviously looking for credible individuals, you know, people who have the financial wherewithal and just to make sure it’s the right fit,” he told the Gazette.
Kokalis maintains that the Cedar Rapids team is on sure footing, though investing in a team that's part of such a small league can be risky. Indeed, the Indoor Football League has already seen over a dozen teams fold since the league was founded in 2008.
And professional sports team ownership certainly isn’t easy. In the big leagues, NFL teams frequently cost over $1 billion, according to Forbes. As a result, the owner of a sports team generally has to have a huge amount of capital, the New York Times reports.
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