Saturday, February 28, 2015
In 2009, the Ricketts family paid $845 million for the Chicago Cubs, Wrigley Field, 25% of Comcast SportsNet Chicago and a small parcel of land outside the stadium. The owners recently recently raised a total of $150 million of equity to help fund the renovation of their ballpark by selling minority interests of the same assets to six investors, plus a tiny piece of land they subsequently bought for $20 million where there was a McDonald’s, for $2.25 billion, according to two people at different companies who have insight on the transaction.
Posted: February 28, 2015 at 10:30 AM | 11 comment(s)
Friday, December 05, 2014
Jeter has declared repeatedly for quite a while now he intends to own a baseball team someday . . . He even told reporters in June he intended to reach out to team owners upon the season’s (and his playing career’s) conclusion. And if you want to bet which team he’ll eventually own? You won’t find a safer wager than the Marlins.
The Marlins said Jeter simply stopped by because he happened to be in town, and maybe that’s all it was — for now. Jeter figures to approach his goal smoothly and deliberately, and there’s only upside by spending some time with Marlins owner (and huge Yankees fan and George Steinbrenner admirer) Jeffrey Loria.
The 74-year-old Loria made the industry’s biggest splash of this offseason when he committed $325 million over 13 years to his stud outfielder Giancarlo Stanton. . . . Yet the Stanton contract’s dramatically backloaded structure, with modest payments of $6.5 million, $9 million and $14.5 million coming from 2015 through 2017, just raises more questions about the franchise’s future. Will Loria try to cash out now that he has stabilized the situation in the wake of the 2012 trades of Mark Buehrle, Hanley Ramirez and Jose Reyes? The Manhattan resident has long denied the notion he’ll be selling anytime soon. Yet industry speculation persists because the multiple times Loria has shot himself in the foot with rebuilds, manager changes and strikingly low payrolls — and most of all the public funding he secured for his new ballpark.
. . .
Enter Jeter, whose representative Casey Close didn’t respond to a request for comment. He lives in Tampa, a short flight (or approximately four-hour drive) away, and he sure seems to enjoy Miami, based on repeated Page Six sightings there. Purchasing the Marlins, unlike the Rays right in his backyard, would keep him out of direct competition with the Yankees.
. . .
He needs to put together a consortium that would in turn appoint him as the control person. He surely knows this already, and it isn’t outrageous to think that Jeter, based on his income not only from the Yankees but also from his endorsement deals, could chip in a sizeable portion himself. Maybe $100 million?
Major League Baseball folks naturally would be thrilled to welcome Jeter into the ownership fold, and all the more so into a sad-sack market like Miami.
Now, the simplest solution doesn’t always become reality. Maybe Loria and his controversial team president David Samson will hang on for the long haul. Maybe Jeter will be wooed by another ownership shift. How about he takes over the A’s and finally moves them out of the O.co Coliseum, even though that’s where he made his Flip Play?
Probably better than putting your money into video games.
The Yankee Clapper
Posted: December 05, 2014 at 02:22 PM | 40 comment(s)
new york yankees
for his generous support.
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