Carlos Lagrange, Finlete, and the spectre of speculation
Where do we draw the line between baseball players and stock portfolios?
TAMPA, FLORIDA - MARCH 11: Carlos Lagrange #84 of the New York Yankees waits to enter a spring training game against the Toronto Blue Jays at George M. Steinbrenner Field on March 11, 2026 in Tampa, Florida. (Photo by Mark Taylor/Getty Images) | Getty Images On Sunday, the New York Daily News’ Gary Phillips wrote a story about ascendent Yankees pitching prospect Carlos Lagrange which gave me pause when I read the headline.
Specifically, the story was about Lagrange’s partnership with a start-up company called Finlete. Finlete is a platform of sorts which allows fans to essentially treat players like stocks—financial assets to be bought into and speculated on to grab a piece of their future earnings if their career takes off. This isn’t a piece of artistic license on my part: it is quite literally the pitch Finlete makes to its customers, albeit with slightly more pillowy language.
“Invest in the career of a top baseball prospect,” their website invites visitors in boldfaced font. For just a $300 down payment, you can “back” a prospect and partake in the rewards if the kid reaches the pros. So, what’s in it for the players?
Well, as Phillips details in his story, the prospect gets all the money from Finlete ‘investors’ upfront and can spend it right away on whatever they need. Lagrange, who in January received over $150,000 from Finlete after signing on with them in September, confirmed that the upfront cash played a role in his decision to enter a partnership with them. Now, I suppose most of you reading probably weren’t familiar with Finlete before.
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