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Paulwny
11-28-2001, 12:17 PM
Part of an article by Scott Miller---- Sports Line



Selig says he will testify before Congress next week that baseball lost more than $500 million in 2001, and that 25 of 30 clubs lost money.

"The business profile is not only unacceptable, it's stunningly bad," Selig said Tuesday.

And yet ... Texas Rangers owner Tom Hicks threw $252 million at Alex Rodriguez last winter. And Colorado Rockies owner Jerry McMorris -- who came up with the idea of contraction -- tossed $121 million to pitcher Mike Hampton. And on and on and on.

So what we have here, obviously, is one of two things: Either the owners are lying about their poor finances, or they're irresponsible morons for getting themselves into that kind of debt. It's not in the manual that they should shop till they drop on the free-agent market each winter

Moses_Scurry
11-28-2001, 12:50 PM
Texas just threw Van Poppel 2.5 mil a year! VAN POPPEL!!!
When will the insanity end?!?!?!?

LongDistanceFan
11-28-2001, 12:52 PM
Originally posted by Paulwny
Part of an article by Scott Miller---- Sports Line



Selig says he will testify before Congress next week that baseball lost more than $500 million in 2001, and that 25 of 30 clubs lost money.

"The business profile is not only unacceptable, it's stunningly bad," Selig said Tuesday.

And yet ... Texas Rangers owner Tom Hicks threw $252 million at Alex Rodriguez last winter. And Colorado Rockies owner Jerry McMorris -- who came up with the idea of contraction -- tossed $121 million to pitcher Mike Hampton. And on and on and on.

So what we have here, obviously, is one of two things: Either the owners are lying about their poor finances, or they're irresponsible morons for getting themselves into that kind of debt. It's not in the manual that they should shop till they drop on the free-agent market each winter i may be wrong here, but anybody can work the numbers to make it look anyway they want to.......... but in order to believ if they did lost this money, then why not open the books to an independent person.

FarWestChicago
11-28-2001, 12:53 PM
Originally posted by LongDistanceFan
i may be wrong here, but anybody can work the numbers to make it look anyway they want to.......... but in order to believ if they did lost this money, then why not open the books to an independent person. You mean like real businesses have to? :smile:

LongDistanceFan
11-28-2001, 12:56 PM
Originally posted by FarWestChicago
You mean like real businesses have to? :smile: that was a good one, but look at enron, they are the best example of working the records to make their deal look legal.

cheeses_h_rice
11-28-2001, 01:25 PM
Methinks the owners cry poor while the value of their ownership stakes just rises and rises, only to cash out bigtime at the end.

I would be very curious to see some of the accounting assumptions used by baseball teams to front-load their expenses and defer their income. I'm sure it's done all the time.

PaleHoseGeorge
11-28-2001, 01:48 PM
Originally posted by cheeses_h_rice
Methinks the owners cry poor while the value of their ownership stakes just rises and rises, only to cash out bigtime at the end.

I would be very curious to see some of the accounting assumptions used by baseball teams to front-load their expenses and defer their income. I'm sure it's done all the time.


Got that right. The last time the owners honestly opened their books for review was 1985. They were crying poor back then, too. It backfired on them in a huge way. The union hired their own phalanx of accountants and economists and ripped to shreds virtually every team's claim to poverty.

There were some comical things going on in the owners' books. The Cardinals weren't taking credit for ANY of the parking fees their parent company was collecting at Busch Stadium. The Cubs were collecting less than the major league average for local TV rights from WGN--even though they were being televised coast-to-coast on a cable superstation,... etcetera. Priceless!

Trust me--whatever Bud shares with Congress next week won't have a bit of substance behind it. The owners aren't dumb enough to ever open their books again.

ma-gaga
11-28-2001, 03:14 PM
Originally posted by PaleHoseGeorge

Trust me--whatever Bud shares with Congress next week won't have a bit of substance behind it. The owners aren't dumb enough to ever open their books again.

What is the agenda of this meeting? Are they going to be able to ask Bud some questions or is he going to make his presentation and run?

Paulwny
11-28-2001, 03:22 PM
Originally posted by ma-gaga


What is the agenda of this meeting? Are they going to be able to ask Bud some questions or is he going to make his presentation and run?

I hope Jim Bunning is one of the congressmen on the panel. An ex-player may have some challenging questions.

Daver
11-28-2001, 06:52 PM
I know one thing for certain

:tool

This man is lying to you.
You expected the truth from a used car salesman?

PaleHoseGeorge
11-28-2001, 07:07 PM
Originally posted by ma-gaga
What is the agenda of this meeting? Are they going to be able to ask Bud some questions or is he going to make his presentation and run?

The usual Congressional circus. One part law to three parts show biz. It's not like a trial or anything. Just Senators and congressmen asking inane questions for the benefit of "the record" while Selig and his lawyer sweep away any line of questioning even remotely controversial--knowing the congressmen neither want (or are capable of) anything approaching a true cross examination.

In short, a farce.

duke of dorwood
11-28-2001, 07:21 PM
:payrod

I'll be Exhibit A-Rod,

For the right amount

kermittheefrog
11-28-2001, 07:31 PM
Originally posted by daver
I know one thing for certain

:tool

This man is lying to you.
You expected the truth from a used car salesman?

It's so sure that Selig is lying to us that Daver didn't even bother putting his trademark and copyrighted phrase at the bottom of that post.

Daver
11-28-2001, 10:12 PM
Originally posted by kermittheefrog


It's so sure that Selig is lying to us that Daver didn't even bother putting his trademark and copyrighted phrase at the bottom of that post.

Would I lie to you?