Author Topic: MLB & Division Watching (2010)  (Read 74387 times)

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Offline blue911

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Re: MLB & Division Watching (2010)
« Reply #2525: March 01, 2011, 12:42:56 PM »
It's a little late to redo the schedules to accomodate 29 teams.  The Mets have to meet payroll, or the whole league's going to have serious issues.

The league gave them a $75M line of credit last summer and another $25M this year. Who in their right mind would lend that kind of money to a franchise that was already $430M in debt? More importantly is how did the Mets become so insolvent?

Offline JCA-CrystalCity

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Re: MLB & Division Watching (2010)
« Reply #2526: March 01, 2011, 05:27:38 PM »
The league gave them a $75M line of credit last summer and another $25M this year. Who in their right mind would lend that kind of money to a franchise that was already $430M in debt? More importantly is how did the Mets become so insolvent?
Omar to Wilpon: "What, you mean we have to pay for this crud?"

Offline blue911

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Re: MLB & Division Watching (2010)
« Reply #2527: March 01, 2011, 05:35:38 PM »
Omar to Wilpon: "What, you mean we have to pay for this crud?"

When the Greenberg/Ryan group bought the Rangers, they paid $350M +/- for the team but had to pay another $200M in "unsecured debt". This was money Hicks had borrowed against the Rangers but had nothing to do with the baseball organization. It appears the Wilpons have doubled Hicks' screw up.

Offline HalfSmokes

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Re: MLB & Division Watching (2010)
« Reply #2528: March 01, 2011, 07:02:27 PM »
When the Greenberg/Ryan group bought the Rangers, they paid $350M +/- for the team but had to pay another $200M in "unsecured debt". This was money Hicks had borrowed against the Rangers but had nothing to do with the baseball organization. It appears the Wilpons have doubled Hicks' screw up.

it's entirely possible that when the Madoff trustee is done with them, JP Morgan will just foreclose on the team (I would if they would try to change the naming rights?)

Offline PANatsFan

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Re: MLB & Division Watching (2010)
« Reply #2529: March 01, 2011, 07:10:06 PM »
When the Greenberg/Ryan group bought the Rangers, they paid $350M +/- for the team but had to pay another $200M in "unsecured debt". This was money Hicks had borrowed against the Rangers but had nothing to do with the baseball organization. It appears the Wilpons have doubled Hicks' screw up.

Hicks is a total bastard. He walked walked away from so much debt with no consequences.

Offline Tyler Durden

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Re: MLB & Division Watching (2010)
« Reply #2530: March 01, 2011, 07:12:52 PM »
Reading this stuff makes me hate these crooks.  Not just the Wilpons, either.  The whole lot of 'em.

Offline tomterp

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Re: MLB & Division Watching (2010)
« Reply #2531: March 01, 2011, 09:42:30 PM »
The league gave them a $75M line of credit last summer and another $25M this year. Who in their right mind would lend that kind of money to a franchise that was already $430M in debt? More importantly is how did the Mets become so insolvent?

One aspect - those deferred contracts are coming due, and they had the cash invested with Madoff that they planned on drawing on to pay out the remaining $.  Oops...

Offline tomterp

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Re: MLB & Division Watching (2010)
« Reply #2532: March 01, 2011, 09:44:18 PM »
Hicks is a total bastard. He walked walked away from so much debt with no consequences.

What do you mean?  If somebody assumed his debt, it's because he had assets worth more and they were willing to take it all as one package. 

Offline PANatsFan

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Re: MLB & Division Watching (2010)
« Reply #2533: March 01, 2011, 09:48:35 PM »
What do you mean?  If somebody assumed his debt, it's because he had assets worth more and they were willing to take it all as one package. 

His debt was more like a billion, they just had to pay off the part related to the team.

Offline blue911

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Re: MLB & Division Watching (2010)
« Reply #2534: March 01, 2011, 11:24:52 PM »
His debt was more like a billion, they just had to pay off the part related to the team.

Greenberg only bought a portion of what was being sold in bankruptcy.

Offline blue911

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Re: MLB & Division Watching (2010)
« Reply #2535: March 01, 2011, 11:30:44 PM »
One aspect - those deferred contracts are coming due, and they had the cash invested with Madoff that they planned on drawing on to pay out the remaining $.  Oops...

Who borrows money to pay off debts that aren't due?

Offline HalfSmokes

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Re: MLB & Division Watching (2010)
« Reply #2536: March 02, 2011, 02:37:17 AM »
People who can buy an annuity at Ponzi scheme interest rates?

Offline Tyler Durden

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Re: MLB & Division Watching (2010)
« Reply #2537: March 02, 2011, 08:20:50 AM »
http://www.masnsports.com/byron_kerr/2011/03/phillies-preview-utley-injury-early-concern.html

Here's an article on the Phillies from Byron Kerr.  Talks about Dominic Brown going 0-9 so far this spring with 6 strikeouts which truly warms my heart.  Also talks about a potential chronic knee issue for Utley.

The Phils may be ripe for a letdown this season despite the 4 aces.  I thought they'd easily win 95+ but now I"m not quite as sure.  Rollins, Utley, and Ramirez are all showing signs of age and Howard can't do it by himself.
---------

moved this to the 2011 section of the board.

Offline tomterp

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Re: MLB & Division Watching (2010)
« Reply #2538: March 02, 2011, 10:39:13 AM »
Who borrows money to pay off debts that aren't due?

Anybody who refinances a mortgage for starters. 

There are a myriad of other terms and conditions to loans besides due dates that may be worth refinancing to improve - rates, or collateral, for two.

Offline blue911

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Re: MLB & Division Watching (2010)
« Reply #2539: March 02, 2011, 11:03:21 AM »
Anybody who refinances a mortgage for starters. 

There are a myriad of other terms and conditions to loans besides due dates that may be worth refinancing to improve - rates, or collateral, for two.

Refinancing is nothing like unsecured borrowing. You don't go $500M in debt by refinancing to get better rates or terms.

Offline Lintyfresh85

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Re: MLB & Division Watching (2010)
« Reply #2540: March 05, 2011, 04:41:19 PM »
Dom Brown just went down with a broken hamate bone. I imagine they'll step up push for Morse... and miss Werth even more.

Though Francisco isn't a scrub... he's got some talent.

Offline JCA-CrystalCity

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Re: MLB & Division Watching (2010)
« Reply #2541: March 05, 2011, 08:52:21 PM »
Dom Brown just went down with a broken hamate bone. I imagine they'll step up push for Morse... and miss Werth even more.

Though Francisco isn't a scrub... he's got some talent.
Hamate?  Hamate?! He don't need no stinkin' hamate! -- Blue911

This is close to Norris's time frame last year. Figure the guy may play by May but no pop until August or so.

As for Francisco, the guy to move to the Phillies might be Ankiel. Has played right, is a lefty.  He and Francisco would be a natural platoon. Do they have a 1B prospect who is blocked by Howard?

Offline Nathan

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Re: MLB & Division Watching (2010)
« Reply #2542: March 05, 2011, 11:58:36 PM »
Discussion for 2011 continued here: http://www.wnff.net/index.php/topic,21109.0.html