Baseball Memorabilia and the Options Contract
So you’re a baseball fan are you? Let’s say while attending the game you catch a really important baseball and let’s just say a lot of people will want to own that ball and are willing to pay a lot of money to own it. Let’s assume the market of sports enthusiasts would pony up $300,000 to own that ball you caught. What should you do with it?
From a legal standpoint a fan who is not wealthy should never just donate the ball to a wealthy overpaid professional baseball player who is worth millions and millions. While many might think the fan is a class act, the player is a classless act when he the multi-millionaire simply exchanges that ball for a few of lesser quality.
For you fans who lack any legal background how about the next ball that gets caught you think before you leap into the spotlight. Instead of just giving it away and more than likely making your wife wonder why she ever married you, how about you offer the millionaire professional ball player a right-of-first-refusal.
A right-of-first-refusal is like an option contract. As an example: for $10,000 the professional player has the right, but not the obligation, to match any offer the fan receives, to purchase the baseball. Simply put the wealthy player who can afford to pay a million dollars for the ball is forced to pay you what the market is willing to pay to own this piece of history.
Is it truely a class act or just an impulsive fan who hands the valuable object to a multimillionaire who can well afford to buy the fan a condo in Manhattan? After all the seat wasn't free.
What if my wife bought me a Ferrari and a baseball ticket. I drive to Fenway and get to meet Ellsbury. While in the moment I hand Jacobi the keys and say it's my gift to him for stealing home. Should Jacobi just take the keys? Without my wife's permission do I have the right to just give away this valuable car? Should Barbara, my wife have a say in it? Does the wife have a legal interest in what she and her husband own? Is there a marital property right that each spouse must consider (and honor) before gifting marital property? In other words does one spouse have the right to say yes or no before the other gifts away a valuable family asset? In this case who is watching out for the wife's property interest?
Some will say the fan is a class act; and perhaps he is, but then again perhaps his act of seeming kindness is just impulsive and legally wrong. Perhaps any player who takes the valuable object and pays less than full consideration is a classless act. Perhaps?
Perhaps the wife has a right to say, No way Jose', give it back!
It makes no sense.
Professional Baseball Player versus Fan Logic
Some who were watching will say anything for the sake of being a team player. But this situation can't be explained as a class act. It was far too impulsive. How can it be otherwise when the guy worth millions takes a $300,000 souvenir from a poor unsophisticated fan, shakes his hand, hands him a signed brand new ball and a jersey as adequate consideration? Am I supposed to see logic and value in this exchange. Huh? Class act? Value? Are you kidding me? The player is worth millions, the fan not so wealthy, so why not make the rich player pay to own this piece of history. After all, the seat wasn't free.
Where is the consideration for such an act of kindness?
Screw the ball players and the jets they flew in on. I would have given the player a right-of-first-refusal, sell the ball for $300,000 and then buy my spouse a condo in Manhattan. Now that would be a class act. The player who takes the ball without adequate consideration is not acting with any class. And the fan, I’ll leave his wife to answer that question.
What’s in store?
How much do you want to bet next week the fan is asking for the ball back? Otherwise his wife who bought him the ticket will be either asking for it to be returned or divorcing him.
Homerun Legal Advice from a Red Sox Fan
Unsophisticated fans should seek legal advice before getting caught up in the media hype.
Does the fan or the fan's spouse have a legal right to rescind the gift? I'm not sure, but ask yourself this question: Does the person who bought the ticket have a right to have some say in who gets the ball and for how much?
Resolution
How about if the multi-millionaire professional athlete, realizing the fan's decision is probably going to cause havoc with his home life, (i.e., his wife), decides to give the ball back to the fan in return for a right-of-first-refusal?
Before making a major decision that also impacts your spouse, talk with a lawyer just to see what are your options. This is Steve Lombardi, who is also watching and go Red Sox!

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