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Two fan-owned teams play in upstate New York: the AAA Rochester Red Wings and Syracuse SkyChiefs. Both teams sold stock to the community in the late 1950s when their major league affiliates reduced their amount of financial support.
The Red Wings are owned by 8,000 shareholders, most of whom own fewer than five shares. The team is technically a for-profit corporation, but the club has never paid a dividend and will not do so for at least another 20 years as part of its lease agreement with Monroe County for its 10,600 seat stadium.
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