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Monday, February 4, 2008

Investing in Randy Newsom: Even Major League Baseball Thinks it's Dumb

Posted By on Mon, Feb 4, 2008 at 12:22 PM

Randy Newsom, prospective pro-prospect prospector.
Last week, I wrote about investing in Randy Newsom, a minor league baseball player in the Indians’ organization who wanted to sell shares of his future Major League earnings. I’d plunked $20 on Newsom’s future, an investment that did little to dissuade my girlfriend from believing that I’m a certified dumb ass. Well as of today, I’m $20 less dumb-ass. This morning, Newsom’s Real Sports Investments emailed to inform me that they are refunding me and the rest of the morons who bet on the future of a 25-year-old right-handed reliever. As it turns out, Major League Baseball has some questions about the company. Shocking, I know. Check out RSI’s email below while I go figure out how I’m going to drunkenly heckle Newsom in Akron this summer without being able to say, “I own you!” ...
Dear Valued RSI Shareholders, Since we launched our site in early December 2007, the response has been absolutely tremendous. Fans and Athletes alike love this concept and we cannot thank you enough for your support. Athletes are signing up with us because we can provide them with security in exchange for a piece of their potential. Fans like you have purchased shares for a number of different reasons and the excitement is tangible. Thanks to your overwhelming response we know that our company’s mission and ideas have a place in the future of sports. With your help, we will be able to create the first market where future earnings of professional athletes can be traded. In order to create a system that will allow players and fans the best experience possible we believe it is in everybody’s best interest to work with Major League Baseball. We have been in contact with them and in the coming months we will be working with Major League Baseball to make sure that RSI addresses all the needs of the larger baseball community especially fans and players. We are committed to working quickly to achieve these goals, however we do not feel that it is fair to hold your money when we cannot set a definitive time table. In the next few days, we will be returning your money and you will no longer own any shares of Randy Newsom. We will be working with Pay Pal to remove ALL of the charges to your credit cards. Our company has two goals. The first is to improve the lives of professional athletes. The second is to provide you with an enhanced spectating experience. We are confident that by working with Major League Baseball, we can come up with an optimal system that will achieve both of these goals and provide you exactly what you have told us that you want. When we re-launch our website, and re-offer shares of Randy Newsom we will allow you to re-purchase your shares of Randy before anyone else. You will have priority and we thank you for your loyalty. Please continue to check our website for updates in the coming months. In this transition you will notice significant changes. Our website will have much more functionality from message boards to shareholder certificates and we will be able to provide you with a greater selection of athletes from which to choose. If you have any questions or comments, please direct them through the contact us page on our site, and we will be sure to answer them. We promise that we will contact you as soon as the next player’s shares become available. We truly appreciate all the comments and support that we have received. Your enthusiasm has energized us even more to bring this market to fruition. I hope you are as excited about this as we are. Sincerely, Real Sports Investments, LLC

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