Black Sports Online – Mike Polaski, co-owner of the Cedar Rapids Indoor football team has put his 20% stake in the team up for sale on Craigslist. Polaski, a restaurant owner, is asking for $80,000 and cites a downturn in his business as the reason for the sale.
The Cedar Rapid Titans, an Indoor Football League expansion team in 2012, are currently first place in the IFL’s United Conference at 3-0.
The team’s general manager says Polaski’s decision to sell has no impact on the team’s daily operations.
It can’t be a good thing that an owner has gotten so desperate that he put the team up for sale on Craigslist, but with the publicity he’s getting from his unorthodox approach it might have been genius. No word yet on if he has gotten any offers.
I don’t hate this move. Everyone knows that Craiglist and eBay have all the best deals. Its the most profitable way to buy and sell nowadays. I don’t even buy from stores anymore unless its food, underwear or clothes from Express. Everything else comes from eBay or Craigslist. Craigslist will literally sell anything for you. Its like an online garage sale. You can buy objects, businesses, houses/apartments, or services. You can locate a job, or a nearby single. You can even join discussions about certain topics like apple, divorce, religion, science or tax. It has a little bit of everything.
I will say this, though. It can’t be a good look for your franchise if your co-owner thinks so little of you that he’s willing to sell his stake in your team to any Joe Schmo who has 80-grand. Also, if 20% is only $80,000 then the team as a whole is worth $400,000? That’s a pretty shitty price for a sports franchise. I mean, the Sacramento Kings suck worst than almost any franchise going and they just sold to a Seattle ownership group for $525 million. And they didn’t have to do it via Craigslist. The Cedar Rapids Titans might want to get their shit together. 3-0 and 1st place in your conference don’t mean shit if your team value is less than a milli.