What are Latin Baseball Futures?
Latin baseball futures are investments in Dominican, Cuban or other Latin American baseball coaches or academies that train up-and-coming baseball players who could one day obtain multimillion-dollar contracts in the sport.
How Do Latin Baseball Futures Work?
Let's say a group of American baseball fans learns of a talented boy in the Dominican Republic. The group feels the boy could become a major league baseball player in four years if he has the right training. Accordingly, the investors pool their money to send him to a buscone, which is an academy that provides athletic training (as well as food, clothing, shelter and general education). In return they receive 50% of the boy's bonuses if he signs with a team.
Why Do Latin Baseball Futures Matter?
Latin baseball futures essentially finance training academies for baseball players, and in return they receive a cut of the players' future income. Clearly the strategy is risky because players could be injured, not chosen by a ball club, or change their minds about their careers. However, the idea can also reap huge returns -- major league players can get contracts worth tens of millions of dollars.
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