When Is Fan Ownership A Good Idea?

I’ve always fancied owning a pub. A very small stake-holding in my local, acting collectively with a hundred-or-so neighbours, so we own and manage a warm, welcome gathering place. Taking material equity in something in which we’ve already made a considerable investment in time, finance and emotion would be a natural extension. It would certainly commit us – already a loyal customer base – to keep coming. Reading about the enthusiastic response to The Western Force’s offer to sell shares in the under-performing, Australian Super Rugby side makes me feel that my pub dynamics are at play there.…