TLP: Investors Look for Baseball to be Berry Berry Good to Them
Forget about gaming the future prices of coffee and bacon, the new hot commodity is fresh meat from the Caribbean.
Investors from the United States believe they have found an exotic new prospect: Latin American baseball players, some as young as 13 and many from impoverished families.This is encouraging news. Ordinarily, the kind of recruiting done in connection with overseas teens is significantly darker.
Recognizing that major league teams are offering multimillion-dollar contracts to some teenage prospects, the investors are either financing upstart Dominican trainers, known as buscones, or building their own academies. In exchange, the investors are guaranteed significant returns — sometimes as much as 50 percent of their players’ bonuses — when they sign with major league teams. Agents in the United States typically receive 5 percent.