Finally An Act of Rationale By MLB And In Particular Bud Selig Who Shows That He Might Indeed Have A Backbone

Finally An Act of Rationale By MLB And In Particular Bud Selig Who Shows That He Might Indeed Have A Backbone

I’ve read with a great deal of glee where the MLB —- hierarchy has now chosen to intervene and take over the day to day running of the operations of the Los Angeles Dodgers and not a moment too soon ! Given the financial situation of the organization and wherein the league hierarchy under MLB Commissioner Bud Selig has sat idly by as Frank McCourt has brought the organization to the brink of bankruptcy . In the last eighteen months two major ballclubs have been placed within the bankruptcy in order that they may have a stay from their creditors while being able to reorganize themselves . First off were the Chicago Cubs whose previous owner billionaire commercial real estate developer Sam Zell placed the team into bankruptcy protection in order to stave off creditors of the Cubs’ parent company (The Tribune Group) at the time going after the team to make the debt payments due. And while this maneuver worked it did cause and cost the company financially a great deal of bad PR that it could have well done without. But what might be even more gave glaring, it gave further credence as to the fact how dire the financial situation was for a number of teams around Major League Baseball .

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Courtesy of MLB.com

Selig to Appoint a rep to oversee Dodgers

By Ken Gurnick , MLB.com

LOS ANGELES — Major League Baseball has taken over operations of the Los Angeles Dodgers, Commissioner Bud Selig announced Wednesday.

“Pursuant to my authority as Commissioner, I informed Los Angeles Dodgers owner Frank McCourt today that I will appoint a representative to oversee all aspects of the business and the day-to-day operations of the Club,” Selig said in a statement.

“I have taken this action because of my deep concerns regarding the finances and operations of the Dodgers and to protect the best interests of the Club, its great fans and all of Major League Baseball. My office will continue its thorough investigation into the operations and finances of the Dodgers and related entities during the period of Mr. McCourt’s ownership. I will announce the name of my representative in the next several days.

“The Dodgers have been one of the most prestigious franchises in all of sports, and we owe it to their legion of loyal fans to ensure that this club is being operated properly now and will be guided appropriately in the future.”

McCourt issued a brief statement late Wednesday night that read: “Major League Baseball sets strict financial guidelines which all 30 teams must follow. The Dodgers are in compliance with these guidelines. On this basis, it is hard to understand the Commissioner’s action today.”

In an e-mail message sent to Dodgers employees on Wednesday, McCourt said, “In light of the Commissioner’s announcement today, I ask that you please continue to conduct business as usual with our complete dedication to the game and our loyal fans. Each of you has represented this organization with class, and while this is no doubt a challenging time for all of us, I truly appreciate your efforts.”

McCourt, owner and chairman of the Dodgers, bought the club from News Corp. on Jan. 29, 2004, and the club reached the postseason in four of his seven seasons as owner.

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If one of most renowned teams in baseball has to be forced into bankruptcy through the financial mismanagement of its parent company then what must that forebear for other organizations around the league at the time ? Given the Cubs’ history and perceived financial resources as it was believed to be , this was nothing more than a shot across the bow of the teams who faced much starker situations but who’ve yet to make it known to the public. I’ve heard it said that the hierarchy of the league wouldn’t be prepared to contract teams but that it is utter stupidity by anyone who believes that it can’t , or won’t happen. If it is the league’s wish then it will happen especially in the light of the economic uncertainty and the whole financial mismanagement of teams around the league at present. With the Cubs having been reorganized whilst in bankruptcy protection it was bought by Tom Ricketts and his family (founders of online stock trading company TD Ameritrade) for an unprecedented $ 850 million . Paring down costs to an extent while still trying to remain competitive has been of the highest order for the Ricketts as they seek to make the Chicago Cubs relevant again within the league .

The second such team , with which bankruptcy was forced upon them, were the Texas Rangers who at the time were jointly owned by Texas multi millionaires Tom Hicks and Ken Gillette . Their combined worth an estimated $2.5 billion but somehow they couldn’t make this organization a viable going concern , from a financial or competitive standpoint but yet somehow through their idiocy they managed to offer Alex Rodriguez what was at the time the richest contract in professional sports , a ten year $250 million contract . Rodriguez barely lasted three years with the organization although he managed to win AL MVP award with the Rangers . I can only surmise that Scott Boras as A Rod’s agent at the time , proved what most people may well have known , that in the state of Texas not only are the businessmen dumb but they lack real business acumen also ! Once again through financial mismanagement by an ownership group another team was brought to near extinction and each time MLB Commissioner Bud Selig sat idly by . Having been forced into bankruptcy for failing to meet their financial obligations the team was bought by consortium led by Nolan Ryan and former Rangers’ executive Chuck Greenbeg . A much needed change in fortune has taken place for the Rangers both financially and competitively on and off the field of play but it doesn’t change the fact that the game’s hierarchy and team owners have been less than truthful as to their overall financial plight .

It’s becoming increasingly clear for all who care to take notice that the game isn’t as financially sound as Selig makes it out to be , nor are the owners being financially prudent and fiscally responsible. It’s not just about the economics of the game or the fact of the now overall plight of the economy at but all but the lack of financial oversight and sound business practices that is taking place in almost every aspect of the game. The GM’s around the league have become opulent and ostentatious and it would appear that the owners alike choose not to pare down their expenses but if anything in number of cases pass on those costs to fans through higher priced tickets and in the prices that they pay for concessions and memorabilia . Well now that fans in large part are refusing to meet those demands , it is now becoming clear that the owners and in particular the league hierarchy have seen the light . Unfortunately that doesn’t appear to be the case for Frank McCourt and the Los Angeles Dodgers’ front office who’ve amassed a debt now close to $1.3 billion collectively and who this past month borrowed in excess of $30 million from the local Fox tv station affiliate in Los Angeles to meet the team’s budgetary expenses for the month. Need one ask what would have happened had the MLB hierarchy chosen not to intervene and bring some sanity back within that organization ? Because clearly the likes of McCourt , GM Ned Colletti and Tommy LaSorda have lost their frigging minds if they think that they can continue to exist in such a way while trying to play down their financial plight !

And although it has been reported that McCourt will seek legal action in US Federal Court to stop the league from intervening and taking over the day to day running of the Los Angeles Dodgers I think that given his recent lack of success in the courtroom and the the financial maelstrom that he has brought within the organization , I find it hard to believe that any presiding judge hearing hearing this case would in fact choose to side with the plaintiff ! If anything the judge might be more likely to side with the defendant in the case given the severe financial problems that McCourt and his fellow executives have placed the organization in.

Now while all of this plays out as a comedic and public spectacle there are also calls for the O’Malley family to once again assume control of the Los Angeles Dodgers . As the previous owners of the ballclub I certainly don’t think that they would want to re-enter the fray of owning the organization once again, on any level, be it for the long term , or short term merely as a custodian ! If anything this situation is best left in the hands of Selig , the hierarchy under his authority . If anything it’d open up his eyes and that of the owners now knowing as such that they could be on the hook for the organization’s debt and mismanagement . One thing I do know, it’s highly unlikely that the Dodgers’ creditors would be liable to write off the vast majority of that cumulative debt as it presently stands as they too have a fiduciary responsibility to their shareholders and board members . Obviously that’s something that McCourt and his fellow executives didn’t take into account in terms of their own fiduciary responsibilities as it relates to their own consortium of partners in the Dodgers’ ownership. Living big and spending big doesn’t guarantee success if you simply don’t know what the hell you’re doing to begin with !

It’s certainly funny that given the Dodgers’ plight and that of the New York Mets who have their own vast problems from a financial and competitive standpoint but this might be one of the rare times that Bud Selig has chosen to show publicly that he indeed has a backbone ! God knows that this man has cowered his way under pressure and has acted oblivious to many of the problems that he has either created within the game through lax oversight or showing his complete naivete’ ! One only has to look at his handling of the steroid issue and the fact that he was absolutely powerless because he chose to be confrontational not only with the MLBPA but also with the Congress and in particular with two of its most powerful legislative bodies in the House Government & Oversight Reform Committee as Senate Judiciary Committee . You piss off the hand that feeds you in terms of providing you with your sole reason to exist throught antitrust exemption , you often in the end tend to make even more enemies than you actually want or need . Something that not even Selig would now care to openly admit to at this juncture .

Courtesy of The New York Times

Madoff Profits Fueled Mets’ Empire, Lawsuit Says

By Alison Leigh Cowan & Richard Sandomir

A lawsuit brought by the trustee for the victims of Bernard L. Madoff’s multibillion-dollar Ponzi scheme contends that the owners of the Mets used the profits from their years of investing with Mr. Madoff to enhance their personal fortunes, enrich a number of family trusts and financially fuel their array of businesses — all in the face of repeated warnings that Mr. Madoff’s investment firm might have been a fraud.

The lawsuit, unsealed in federal bankruptcy court in Manhattan on Friday, says the owners, Fred Wilpon and Saul Katz , their families and their businesses “made so much easy money from Madoff for so long” that despite the many warnings — from within their own inner circle, and by other investors and financial institutions — they “chose to simply look the other way.”

“There are thousands of victims of Madoff’s massive fraud,” the lawsuit states. “But Saul Katz is not one of them. Neither is Fred Wilpon.”

Since Mr. Madoff’s arrest in December 2008, Mr. Wilpon has portrayed himself as a victim of the fraud, one he conceded was carried out by a man who had been his friend for many years. On Friday, in a personal statement and through their lawyers, Mr. Wilpon and Mr. Katz decried the trustee’s legal assault.

“The trustee’s lawsuit is an outrageous ‘strong arm’ effort to try to force a settlement by threatening to ruin our reputations and businesses, which we have built for over 50 years,” Mr. Wilpon and Mr. Katz said.

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If ever there was a cautionary tale to be learned as to the world of sports and how the excess of greed can turn a once beloved spectacle into a crevasse of bungling ineptitude then Major League Baseball would be it. From the cheating , lying and bungling ineptitude of the owners , players , union and the hierarchy itself and their overall unwillingness to act in a proactive manner whenever there is a real problem within their midst. Instead they each tend to act as if there’s nothing wrong at all , until it’s all too late and by then the damage done tend to be irreparable . And when I say damage done it’s not only to the game in terms of its competitiveness , financial stability but also to its very own image and the fact that the vast majority of the fans can and do no longer trust what the game says it stands for or the very people who are entrusted to oversee and maintain its very existence and livelihood .

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Picture gallery for your perusal .

Do you feel that the intervention now undertaken by Bud Selig and the league hierarchy will ensure the Los Angeles Dodgers’ long term existence and livelihood. Or do you feel that the Dodgers ought to have been left to their own devices and let them sink or swim dependent upon what they chose to do in order to survive ? And do you believe that in the long term contraction within the game will become more likely in light of the financial problems that are now coming to light concerning a number of teams within the game of baseball ? Simply leave a comment as to your thoughts on the matter and as usual thanks for the continued support .

Alan aka tophatal ……………………

https://tophatal.wordpress.com

Picture and slide show details below .

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(1) MLB commissioner Bud Selig (left) watches the 81st MLB All-Star Game at Angel Stadium of Anaheim on July 13, 2010 in Anaheim, California. Getty Images North America / Michael Buckner ……

(2) Los Angeles Dodgers owner Frank McCourt (R) greets Don Newcombe, former Brooklyn Dodgers teammate of Jackie Robinson, before the game with the St. Louis Cardinals as Major League Baseball celebrates Jackie Robinson Day on April 15, 2011 at Dodger Stadium in Los Angeles, California. Getty Images / Stephen Dunn ……..

(3) Cubs GM Jim Hendry (left) is seen here alongside team owner Tom Ricketts at the team’s headquarters at Wrigley Field , Chicago , Illinois , speaking to the convened press . AP Photo / Tom Scott ….

(4) Nolan Ryan team President & lead managing partner of the Texas Rangers is seen here with Chuck Greenberg a former executive with the Texas Rangers . Greenberg a respected sports attorney and agent abruptly left the Rangers’ organization earlier , this year. Dallas Morning News / Michael Ainsworth ……

(5) (L – R) Saul Katz, CEO of the Mets, Fred Wilpon, president of the Mets, GM Sandy Alderson and Jeff Wilpon, chief operating officer of the Mets pose for a photo during Alderson’s introduction as the general manager for the New York Mets on October 29, 2010 at Citi Field in the Flushing neighborhood of the Queens borough of New York City. Getty Images North America / Andrew Burton ……

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MLB News

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The Winds Of Change Are Not About To Happen Anytime Soon ….. Count On It

The Winds Of Change Are Not About To Happen Anytime Soon ….. Count On It

If money is the root of all evil then how is that MLB just can’t deal with its problems which inherently comes down to the fact that Commissioner Bud Selig and the owners can’t come up with something that’s beneficial to all of the teams within the game ? I mean what idiot truly believes that the league’s tax sharing revenue scheme actually works ? The league in essence forces teams with a payroll in excess of $150 million to pay a luxury tax that’s deemed appropriate by the league hierarchy. The New York Yankees whose payroll for the 2010 season was in excess of $205 million and the tax levied by the league was in excess of $60 million which was shared amongst the small market teams around the league. As to the overall amounts paid by teams such as the St Louis Cardinals , Los Angeles Angels , Boston Red Sox and Philadelphia Phillies it doesn’t really go that far when one realizes that there isn’t any profit sharing by the MLB and monies derived by sales of league paraphernalia isn’t divided up amongst the teams equally. Calls for a hard and fast salary cap falls on deaf ears within the league hierarchy and team owners because they simply don’t want it and they’d rather the status quo remain the same.

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Slide show .

For many teams much of their revenue is either derived by ticket sales , concessions at home games and via fees charged within their local television market. As to Bud Selig and the game’s hierarchy that this is the most equitable way of formulating a system that is of benefit to the teams I’m under the impression that they’re taking their charge by seeing how the the Congress , Senate and the President’s Cabinet conducts its business. There money is spent like it’s being printed on a daily basis and truth be known it actually is and at the same time the government is borrowing so much money that they’ll never to pay down the national debt much less the ever increasing interest as its appreciates. Now we have this convoluted mess after this latest spending bill in which the House appropriated $1,000,000,000,000 ($1 trillion) in order that it can operate for the upcoming fiscal year. We’ve been told repeatedly that the government will eliminate ‘earmarks’ otherwise known as ‘pork barrel’ spending . And much of this latest bill signed into law by President Barack Obama is filled earmarked projects which he himself , House Majority Leader-designate John Boehner (R-Oh) , Senate Leader Harry Reid (D-Nv) have categorically stated that they would rid the Congress of earmaks themselves and nothing at apparently has changed . by way of those statements .

Clearly much like the idiocy that now happens within the game of baseball when it comes to showing an alarming rate of stupidity there is no difference between Congress and that game’s hierarchy. Of this $ 1,000,000,000,000 there was $8 ,000,000,000 ($ 8 billion) earmarked for pet project of these congressional members . Sixty six hundred (6,600) projects all-told and you’d not be surprised to see how some of this money is spent and what it’s being spent on. Suffice to say that if you’ve an avowed interest in how bat fecal matter affects agriculture then there’ll be something of interest there for you. Or that there’ll be a museum built in the state of Iowa to commemorate the visit made there the late Soviet leader Nikita Kruschev . And here I was under the impression that there was about to be wind of change within Congress ? Not so fast as that’s not about to happen when the incoming designates for the Congress are seated in the next term. And for those of you out there who are of the belief that Tea Party backed designates who’ll assume their seats in the next session of Congress will change things, consider this not one of the candidates in question have come out openly and voiced their disapproval at this latest betrayal of the public’s faith in the current lawmakers seated in both congressional houses. Oh yeah they’ll be a party of change alright can we say more of the same in terms of changes that’ll take place ? Simply put, out with the old and in with a new clique of bloodsucking vampires and miscreants ! .

Baseball for all of its alleged virtues and competitive spirit is not unlike Congress and the federal government , as there too we see a great deal idiocy , wantoned waste of money and not much by way of intelligence or creativity when it comes to dealing with its own financial well being . How else can one explain where its own Commissioner Allan ‘Bud’ Selig has earned in excess of $ 45 million alone in the last three years but yet two teams, the Chicago Cubs and Texas Rangers were on the brink of bankruptcy and financial collapse because of the financial mismanagement of both teams. The Cubs were placed into bankruptcy filing by then owner Sam Zell merely to avoid having team’s parent company’s (The Tribune Co ) creditors go after the club for monies owed by The Tribune Company . In the case of the Rangers that was because then owner, Tom Hicks’ sporting interests again mishandled , mismanaged and wasn’t willing to acquiesce to the wishes of his creditors in making the payments for the financing agreed to under the terms of the original contracts. The debt amassed by Hicks’ sporting interests tallied into hundreds of millions of dollars . And when the financiers chose to appraise the assets in question with a view to selling them off, he felt aggrieved that they were under-priced and that he would be unable to either retain or in some way make a profit from their sales. I guess those people there in Texas who were of the belief that Hicks was a great businessman may well now have to rethink their position . The Dallas Stars , Texas Rangers and Liverpool FC of the English Premiership League are no longer baubles that he can parade around to friends and acquaintances as part of his once large sports’ empire.

The intransigence now being shown by Selig , MLB hierarchy , team owners and the MLBPA (Players’ Union) could very well lead to the game’s own death knell . As glorious as one feels that the triumphs are for the World Series champions each year, consider this , each off-season the upheavals that take place as teams vie for the free agents out there on the open market or via trades that tend to take place the more ludicrous the demands are . At the same time small market teams can merely watch as they see their big market counterparts and rivals simply feast at the table with an open checkbook and unabated appetite. Somehow the so called level playing field and parity that fans out there try and equate with baseball appears to simply be a misnomer. And those small market teams in the end merely tend to give up and do what they simply do best and that’s to groom their young talent and then in a few years after they’re salary arbitration eligible they will either trade them away for the most part or retain them short term in the hope that they might catch lightning in a bottle.

I can’t help but wonder if during this upcoming season should things not be going right for a team like the jsp?c_id=was”> Washington Nationals , will we see them off-load their big money signing Jayson Werth ? After-all who in their right mind signs a player to a seven year $126 million contract when there’s nothing to suggest that he’s at all the answer to the organization’s most dire needs ? As good as Werth is presumed to be does anyone believe that his acquisition alone will make the Nationals an immediate contender within the NL East right away ? GM Mike Rizzo , team owner Ted Lerner and his partners have spent voluminously to acquire Werth, young phenoms such as Bryce Harper and Stephen Strasburg in the hope that change is in the offing . Get the feeling that the one constant in that division the Philadelphia Phillies are about to let that happen given their own recent outlay for Cliff Lee ? I didn’t think so !

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Picture gallery for your perusal.

Many of the pieces I’ve read about baseball here within a number of sites are by fans who are openly enamored with the game on the field of play but when it comes to the off the field issues as it concerns the game’s viability rarely do I read any commentary whatsoever on those issues. I get the impression that they feel it is of no intrinsic value or that they simply don’t understand the business side of the sport and how it relates to the game overall and their own way of life . When baseball chooses not to deal with many of its issues it’s usually the fans who in the end will end up suffering . The only change that has ever really taken place within the game was the social change engineered at the time stave off racial stereotyping as to the game’s openly racist ardor. Since then there’s been very little to suggest that things have changed for the better in terms the hierarchy showing any common sense as it relates to its future and the financial viability of a number of its teams. Simply look around and tell me what you see that would suggest to you that things are about to change within the game from that particular aspect ? Chime on in with your own thoughts on this matter and any other concerning the game as you view it and its future .

NB: The tax levied by the league isn’t based at the threshold but as a percentage of the gross payroll salary paid by the team within that fiscal year.

Alan aka tophatal ……………………… 🙂

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Nicole

Eye candy …………. Nicole Pankey .Don’t hate simply appreciate.