A Major League Baseball policy change earlier this year now allows investment funds to buy minority stakes in teams, Bloomberg reports.

MLB owners have historically been extremely wealthy individuals, but this new rule is aimed at helping MLB teams take advantage of their high market valuations.

{mosads}These high valuations — an indication that the baseball business is doing well, according to Bloomberg — makes it hard for minority owners to sell their stake in teams.

The news source reports that the average MLB team valuation this year was $1.78 billion, an increase of 8 percent from 2018.

Unsurprisingly, the New York Yankees have the highest market valuation at nearly $5 billion dollars. 

Galatioto Sports Partners has already jumped on the opportunity by creating the $500 million GSP Sports Fund, which will be used to invest in teams. The fund, which has yet to be publicly announced, will accept a maximum of 100 investors, with the minimum investment being $1 million.

MLB and Galatioto Sports Partners both declined comment to Bloomberg.

The NBA and NFL reportedly both have similar plans in the works but nothing concrete has been announced yet.