Wednesday, November 28, 2012
Glass willing to spend more than $70 million on Royals’ payroll
(www.kansascity.com)
posted on November 28, 2012 at 06:01 PM by RoyalsRetro (AG#1F) to amateur draft, david glass, royals
|
18 comment(s)
Glass also disputed the notion, generally based on industry estimates by Forbes magazine, that he has pocketed more than $100 million in operating profit since purchasing the club in 2000 from the estate of Ewing Kauffman.
“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.
“Look, you might have a $65-to-$70 million payroll, but then you go out and spend $25-$30 million in amateur bonuses. Everyone says, ‘Well, your payroll is less than some of the other teams,’ but those other teams were spending less than $10 million in amateur bonuses.
Ummm, no.
Reader Comments and Retorts
Go to end of page
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.
You must be Registered and Logged In to post comments.