If you've got $80,000 to spare and are interested in an ownership stake in an Indoor Football League team, Mike Polaski has an offer for you.
A minority owner of the Cedar Rapids Titans, Polaski is looking to sell his 20 percent stake in the team for $80,000. So he went on Craigslist and posted an ad.
"A downturn in my 'core' business (restaurant owner) has forced me to liquidate my 20% ownership in The Cedar Rapids Titans LLC -- Indoor Football Team," Polaski wrote. The ad has since been taken down, but a screenshot was captured by Michael Bonner of the Cedar Rapids Gazette.
Chris Kokalis, the owner and general manager of the Titans, told Bonner that he wishes Polaski would have gone about the sale differently, but Polaski had the right to try to sell his share however he liked.
"It's like you having ownership in Best Buy or Kohls and you wanting to unload your shares," Kokalis said. "He just used Craigslist as a way to seek interest."
The team is doing well this year, posting a record of 3-0 and maintaining a strong following in Cedar Rapids.
"It’s not like anyone off the street can buy into the football team, there's a process that needs to be followed," Kokalis told Bonner. "…We're obviously looking for credible individuals, you know, people who have the financial wherewithal and just to make sure it’s the right fit. This isn’t the right fit for everybody."
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