Markets in Everything – Relief Pitcher Earnings
Randy Newsom, relief pitcher for the Cleveland Indians, is selling 4% of his future major league salary. There are 2,500 shares in the IPO so each share gets you a claim to 0.0016% of his future salary including bonuses. Shares sell for $20 each.
Hat tip to Mike Makowsky. Mike, a rookie GMU PhD on the job market, is also entertaining offers for a share of his future salary. Mike is feeling rather risk-averse so as an insider, I recommend you buy now. Mike has a great career ahead of him and this opportunity won’t last long!