I remember when the Celtics went public.
Turned out to be an accounting nightmare as many of the fans that bought shares, especially a single share, framed, rather than cashed, the dividend checks.
Obviously that implies that the same fans took possession of the stock certificates...which were probably also framed.
The whole idea of paying that much is ludicrous. The fans are the ones that are going to suffer from inflated ticket and concession prices.
Having a rich owner is good for the fans, because the owner is willing to pay for a winning team.