Why Three Diamondbacks Minority Owners Are Suing Team's Majority Owner

Many aspire to buy a professional sports team and call the shots. Very few succeed.

A slightly more achievable goal, at least among the very affluent, is to buy a minority stake in a team. The buyer can then call himself or herself an “owner” and gain certain privileges. Access to restricted areas in the ballpark, priority seating for games and exclusive meetups with players are among common perks. If it so wishes, a team can have dozens of minority stake owners. This type of arrangement can infuse millions of investor dollars into a team’s operations. Granted, this level of ownership doesn’t provide authority over team decisions, on- or off-the-field. It also doesn’t guarantee meaningful…