Hire a purchasing broker who will handle most of the busy work associated with the transaction. There are several contracts and legal papers, applications and filings that need to be handled. A broker with specific experience acquiring professional minor league baseball teams can handle most of these resonsibilities.
Make a list of potential teams that are available or potentially affordable. Make sure this list provides options you feel passionate about. Pursuing a team or franchise you like or are a fan of will make the business venue into professional baseball ownership more exciting.
Explore expansions options. Look for leagues that need additional franchises or places that would like to host a minor league baseball team. Determine if starting a franchise from the ground up would be feasible in that area. While it is easier to purchase an existing franchise, there is a level of excitement when a new franchise is formed and begins to play competitively.
Measure the market where your team will be playing. Find out if there is a solid fan base, is there a steady season ticket market and are their nearby teams who will impact the sales numbers. Contact the team's chief financial officer and ask if the current owner turns a profit what that profit is.
Determine the cost to purchase the team you decide to buy. Contact the league commissioner to determine what the fees will be to the league. Most leagues charge for a transfer of ownership. Many times the leagues will have net worth requirements for their owners. This ensures that teams will be able to remain competitive and be able to purchase talent. The league has an interest in maintaining a high level of competition and talent; and they want their owners to have the resources to keep the talent level and competition elevated.
Consult a lawyer that is independent from the transaction to give an opinion on the deal. Have the lawyer determine if the paperwork is in order and if the deal looks profitable. Make sure the lawyer is not affiliated with the league or the purchasing broker you hired. This will provide an independent option void of emotional ties or bias.
Make an offer to buy a team. The offer is usually negotiated until the parties settle on a fair and comfortable price. Understand the deal you are offering. Before accepting anything that is not clear, have your lawyer or broker advise a proper course of action.