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1.Magnum RA posted on November 28, 2012 at 06:18 PM #hit 0 | hit 0
“From the time we’ve owned the team until now,” Glass said, “accumulatively we’ve done no better than break even. We’ve actually subsidized it slightly during that period of time.
That might be technically true, but I suspect that it counts Glass' huge salary (and that of many family members, too) as an expense rather than a profit distribution.
How? On who? Once or twice, maybe, but not every year.
Also far less likely than in previous years. I think the Twins spent the most on the draft this year at around $11m (could be off by some there). With restrictions on international bonuses now, it's hard to imagine any team spending more than $15m in bonuses in one year and staying within the rules. He is either unaware of the rule changes or being very misleading.
5.Bob Tufts posted on November 28, 2012 at 08:12 PM #hit 0 | hit 0
Yeah, Glass is having real financial difficulties. Per Cot's:
David Glass purchased the Royals for $96M in 2000. Forbes magazine valued the club at $354M in March, 2012.
Cash poor and asset rich? Not necessarily. Forbes also claims the team has had positive operating income for the last nine seasons.
That might be technically true, but I suspect that it counts Glass' huge salary (and that of many family members, too) as an expense rather than a profit distribution.
you should also factor in the fact that, because they own their own regional sports network, they can funnel revenues from their team to their wallets through their RSN.
also, iirc, aren't teams guaranteed something like 100 million in centralized revenue due to national TV contracts, MLBAM, and revenue sharing? and that's before they even play a game.
9.Squash posted on November 28, 2012 at 10:35 PM #hit 0 | hit 0
I sometimes wonder if they really do think we're just all a bunch of idiots, or if they're so surrounded by the echo chamber that they really do believe what they say. A combination of both, I suspect.
10.Bhaakon posted on November 28, 2012 at 11:12 PM #hit 0 | hit 0
Glass willing to spend more than $70 million on Royals’ payroll
Translation: Glass to start drawing a salary.
11.SM posted on November 29, 2012 at 12:42 AM #hit 0 | hit 0
In Glass' defence, he's not saying they did that. He's saying they "might" have done that.
Baseball owners aren't in it for profit; they're in it for the swag.
It's not the money. It's the stuuufff.
15.Bhaakon posted on November 29, 2012 at 08:34 AM #hit 0 | hit 0
It's not the money. It's the stuuufff.
Owners get to wear a fresh, new, flat brimmed, hologram-stickered hat every day of the year, and in any colors they want, regardless of the team logo. It's the new American dream.
"In Glass' defence, he's not saying they did that. He's saying they "might" have done that."
That ain't much of a defense. They didn't do that. That rules out "might". He's the owner. He knows that.
18.geonose posted on November 29, 2012 at 02:53 PM #hit 0 | hit 0
you should also factor in the fact that, because they own their own regional sports network, they can funnel revenues from their team to their wallets through their RSN.
The Royals got rid of their regional sports network several years ago.
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Statements posted here are those of our readers and do not represent the BaseballThinkFactory. Names are provided by the poster and are not verified. We ask that posters follow our submission policy. Please report any inappropriate comments.
1. Magnum RA posted on November 28, 2012 at 06:18 PM # hit 0 | hit 0That might be technically true, but I suspect that it counts Glass' huge salary (and that of many family members, too) as an expense rather than a profit distribution.
How? On who? Once or twice, maybe, but not every year.
Also far less likely than in previous years. I think the Twins spent the most on the draft this year at around $11m (could be off by some there). With restrictions on international bonuses now, it's hard to imagine any team spending more than $15m in bonuses in one year and staying within the rules. He is either unaware of the rule changes or being very misleading.
Cash poor and asset rich? Not necessarily. Forbes also claims the team has had positive operating income for the last nine seasons.
also, iirc, aren't teams guaranteed something like 100 million in centralized revenue due to national TV contracts, MLBAM, and revenue sharing? and that's before they even play a game.
Translation: Glass to start drawing a salary.
Baseball owners aren't in it for profit; they're in it for the swag.
It's not the money. It's the stuuufff.
Owners get to wear a fresh, new, flat brimmed, hologram-stickered hat every day of the year, and in any colors they want, regardless of the team logo. It's the new American dream.
That ain't much of a defense. They didn't do that. That rules out "might". He's the owner. He knows that.
The Royals got rid of their regional sports network several years ago.
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