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#14 | |
Sauntering Vaguely Downwards
Join Date: Sep 2005
Location: Columbia, Mo
Casino cash: $-640901
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Quote:
Hell, if the Dodgers wanted to pump the brakes for a bit I'd understand, their debt service has to be insane with the purchase price they paid for LAD. However, anybody that bought a team pre-TIVO era has almost certainly paid their debt service down to little/nothing by now so their operating expenses are going to be relatively low. And as has been stated, the value of their franchises is such that, if they have any assets outside of baseball at all, they can easily underwrite losses for quite awhile. Hell, it's not like it would be hard to find a lender willing to advance a loan using the equity in the team as collateral if you really gave a rip and didn't have the immediate liquidity. Nobody in baseball gets to cry poor. DeWitt bought the Cards for $150 milliion and then sold the parking garages that came with the team for $50 million - net price of the Redbirds was about $100 million. They made $74 million last season. The guy cash flowed the purchase of a MLB baseball team and could sell it tomorrow for over a billion. Even if he didn't have $3 billion in net worth outside of baseball, Dollar Bill could take massive losses for a very long time.
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"If there's a god, he's laughing at us.....and our football team..." "When you look at something through rose colored glasses, all the red flags just look like flags." |
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