REAL Sports with Bryant Gumbel S27E6: June 2021

Overview

Most Minor League ballplayers make less than minimum wage. It's a reality that former pitcher Michael Schwimer saw up close when he worked his way up to the Majors. Schwimer was injured and out of the game by the time he was 27, but came up with an idea to help Minor Leaguers by starting a private equity fund that pays young players money in exchange for a percentage of their future baseball earnings. Over the last five years, Schwimer has raised $156 million and invested in more than 300 players. A few months ago his venture proved its potential when Fernando Tatis, Jr. - one of Schwimer's clients - signed one of the biggest contracts in the history of the game. Tatis, Jr. hit the jackpot, as did Michael Schwimer and his equity fund.