Probably not realistic depending on the number of fans and buy in and not sure if MLB has rules against it. But if the team is valued roughly at $2billion that means at least 500,000 fans would buy in at $4k a share, 1 million fans $2k a share etc. Or do something similar to the Packers with stock sales for a couple hundred with a limit on the amount an individual can purchase. Just a fun thought.
• Any fan could potentially buy a share of the team ( The Packers currently have over 500,000 owners)
• Fan elected board of directors who have the team's best interest in mind so we wouldn't have to worry about a profiteering, crappy, or meddling owner
• Profits get reinvested in the staff, operations, and infrastructure
New Yorker article about the Packers being a not for profit fan owned team