More about Castle’s Ownership in CT United

[thekollieman]

The NBA's reigning Rookie of the Year is learning a new role: Soccer team owner

As Stephon Castle’s basketball career takes off, he also has an eye on soccer as a minority owner of CT United, a team in Major League Soccer's second division.

www.nbcnews.com

I played soccer and enjoy it, but frankly Steph being an owner is what makes me definitely want to catch a game in person this year and support this team.

 

[WrenchFan69]

I hope the monetary stake is extremely small. This is not a venture set up to succeed.

 

[thekollieman]

The article said he/his agent declined to state his percentage ownership, but alluded to somewhere from 1-10% by describing that as a common stake size for minority ownership. I also would venture to guess the total investment for that size would not be particularly large for a team of that level in that sport. But Steph’s clearly got a good head on his shoulders and good people around him (e.g., article said his dad presented this investment to him in conjunction with his agent) so I figure it’s a relatively low risk for a good fit (CT connection) and dipping his toes in the water to gain experience in the realm of team ownership.

 

[Da_Aisijimo_Gou]

After not obtaining government financing to build a potential Bridgeport stadium, 3rd tier MLS Pro Connecticut United has no stadium. To start, the Connecticut alumni, ex-Huskies track athlete lead owners (Andre & Michele Swanston stadium) managed to schedule games at UConn’s Morrone Stadium and Yale’s Reese Stadium.

No idea whether the Swanstons and their head coach, past UConn player Shavar Thomas ‘01-‘02, will manage to succeed, but it may be far from a slam dunk. Hope they pull it off!

 

[Waquoit]

MLS sucks. I love Castle, I hope this venture fails.

 

[Chief00]

The article said he/his agent declined to state his percentage ownership, but alluded to somewhere from 1-10% by describing that as a common stake size for minority ownership. I also would venture to guess the total investment for that size would not be particularly large for a team of that level in that sport. But Steph’s clearly got a good head on his shoulders and good people around him (e.g., article said his dad presented this investment to him in conjunction with his agent) so I figure it’s a relatively low risk for a good fit (CT connection) and dipping his toes in the water to gain experience in the realm of team ownership.

His dad is a great guy.

 

[RayIsTheGOAT]

I hope the monetary stake is extremely small. This is not a venture set up to succeed.

What a strange take lol. Steph Castle is probably on pace to have a net worth of like $500 million. Why does every monetary investment have to produce an individual financial return, and not just something that supports a community

 

[dennismenace]

What a strange take lol. Steph Castle is probably on pace to have a net worth of like $500 million. Why does every monetary investment have to produce an individual financial return, and not just something that supports a community

This is undoubtedly a for profit corporation. I think what you are referring to is a non profit organization. Non profit organizations accept donations which may/may not accrue tax benefits to donors. No doubt Steph has community organizations (like Boys/Girls clubs etc.) and other non profits that he contributes to. This one just happens to probably be a for profit organization.