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Randy Newsom, a minor league pitcher in the Cleveland Indians' system, is selling shares of his himself at $20 apiece.
You've probably never heard of Randy Newsom, but he'd like to hear from you. A minor league pitcher in the Cleveland Indians' system, Newsom is selling shares of his himself at $20 apiece-the equivalent, he promises, of .002 percent of his future career pay, aligning his hopes and dreams with those of investors. So far, about 1,800 shares have been snatched up. This despite the fact that if Newsom doesn't make the major leagues-he's considered something of a long shot-investors are out all of their money.
According to The New York Times, Newsom's plan wasn't met with enthusiasm from Major League Baseball, the players' union, and the Securities and Exchange Commission, which says that the minor leaguer's stock offering must be registered with the SEC; it's not. In the meantime, MLB is apparently aiming a fastball at Newsom's head: The "Buy Shares" link at his website reveals a statement that says "Shares of Randy Newsom are no longer available" and which explains that his company, Real Sports Investments, is in talks with the league.