The Nats are...For Sale?!?

[HalfSmokes]

Less than a penny now:

(Image removed from quote.)

Hopefully they don't pay their sponsorship fees on installment. It looks like they shut down their blockchain

https://www.marketwatch.com/story/terra-blockchain-halted-after-luna-stablecoin-ust-losses-11652376352

[PowerBoater69]

Hopefully they don't pay their sponsorship fees on installment. It looks like they shut down their blockchain

https://www.marketwatch.com/story/terra-blockchain-halted-after-luna-stablecoin-ust-losses-11652376352

It's back on. if you bought in for $20k when it went under a penny, now it's worth $80k. Buy in before it jumps up to a nickel.

[Five Banners]

From Bill Madden:

https://www.nydailynews.com/sports/baseball/yankees/ny-yankees-best-record-in-baseball-20220514-mp7pnhxedjh7xnw7s24r3zkiiu-story.html

“Hearing that former Orioles, Padres and Red Sox CEO Larry Lucchino is quietly putting together a group to hopefully buy the Nationals if and when the Lerner family decides to put the team up for sale.“

His name has popped into mind for several of us when thinking of somebody with a solid baseball track record on the executive level, especially given previous local connections

[Kevrock]

How is that possible? He's the CEO of a sports group that owns a different baseball team. Are there groups that own multiple teams?

Edit: I guess he's retired from that group?

[JCA-CrystalCity]

Yes.  I think he now may own the WooSox ( formerly PawSox).

[JCA-CrystalCity]

Lucchino was involved in building OPACY and Petco and drove the Fenway renovation. Putting the cart way before the horse, I wonder what he'd do to Nats Park. Lots of wasted street side space on Potomac.

[PowerBoater69]

Lucchino was involved in building OPACY and Petco and drove the Fenway renovation. Putting the cart way before the horse, I wonder what he'd do to Nats Park. Lots of wasted street side space on Potomac.

There are spots on the First Street side zoned for retail that are not being used, if I recall correctly. The big project was going to be the three floor sportsbook with the roof top bar at the corner of First and Potomac that never happened due to Covid and is probably on hold now due to the sale. Having that approved has to increase the sale value.

[machpost]

There are spots on the First Street side zoned for retail that are not being used, if I recall correctly.

As far as I can tell, they've never offered it up for lease. I think they use some of it for storage these days. Surely they'll put it to use as the plans for the DC Water parcels directly across 1st Street are moving ahead.

[HalfSmokes]

With a team that bleeds fans if it isn't winning and a television deal that is just endless litigation and no actual payments the land better be worth something if the Lerners are going to get a good price. 

[Ali the Baseball Cat]

But the cherry blossom jersey sales...

With a team that bleeds fans if it isn't winning and a television deal that is just endless litigation and no actual payments the land better be worth something if the Lerners are going to get a good price. 

[Slateman]

The fans will be back when the team is winning.

[HalfSmokes]

The fans will be back when the team is winning.

Which requires spending. Sounds like a bad investment if gate receipts require constant winning and the TV deal is nothing but a never ending court case.

[DPMOmaha]

It doesn't require spending. The Rays and A's have proven that. But it would require much better scouting and development. Ideally they'd get to a point where they'd be able to do both; spend and develop. They pushed all in for '19 and they're paying for it right now.

[blue911]

It doesn't require spending. The Rays and A's have proven that. But it would require much better scouting and development. Ideally they'd get to a point where they'd be able to do both; spend and develop. They pushed all in for '19 and they're paying for it right now.

They don’t have fans.

[wj73]

Yes.  I think he now may own the WooSox ( formerly PawSox).

Did not realize that, but checked and apparently he’s been the CEO since 2015. Their ballpark, Polar Park, is a lovely new ballpark that opened last year. We attended a game there last June and were quite impressed. Based on his background, like we’d do well if he was involved in a group to purchase the Nats.

[DPMOmaha]

They don’t have fans.

That's not entirely true and also doesn't change the point that you don't absolutely have to spend to win.

[RobDibblesGhost]

Hopefully they don't pay their sponsorship fees on installment. It looks like they shut down their blockchain

https://www.marketwatch.com/story/terra-blockchain-halted-after-luna-stablecoin-ust-losses-11652376352

It was all paid upfront. Post has a good article up about the deal: https://www.washingtonpost.com/sports/2022/05/20/washington-nationals-terra-crypto/

“…The Nationals signed a five-year, $38.15 million deal this winter to promote Terra and received all the money up front. The internal debate, according to multiple people with knowledge of the discussions, is centered on whether the organization should honor its agreement with Terra and keep the company’s name on its luxury club behind home plate, where “Terra” is stripped across every seat, and elsewhere in the stadium…”

[welch]

The latest:

Nationals’ next step toward a potential sale: Making financial details available

By Barry Svrluga

https://www.washingtonpost.com/sports/2022/05/23/nationals-financial-information-buyers/

[PowerBoater69]

The latest:

https://www.washingtonpost.com/sports/2022/05/23/nationals-financial-information-buyers/

Not much info in the article, just that the team is starting to share financial info with buyer pre-approved by MLB, which is not really big news since that could be assumed to be happening with the team for sale. No info on quantity or names of the interested parties.

The bigger item is that Mark Lerner wants to sell quick. They are allowing the team to circle the toilet, on the field and in attendance, he probably wants to sell before the value drops.

[Slateman]

At least there is a buyer

[Natsinpwc]

Not much info in the article, just that the team is starting to share financial info with buyer pre-approved by MLB, which is not really big news since that could be assumed to be happening with the team for sale. No info on quantity or names of the interested parties.

The bigger item is that Mark Lerner wants to sell quick. They are allowing the team to circle the toilet, on the field and in attendance, he probably wants to sell before the value drops.

The quicker the better then before they can do much damage.
LAC.

[DPMOmaha]

https://www.washingtonpost.com/sports/2022/07/04/washington-nationals-july-sale-juan-soto-trade-deadline/

The sale front seems quiet, but it is absolutely moving forward. In recent weeks, according to multiple people with knowledge of the process, two potential ownership groups visited the Nationals in person, touring Nationals Park and sitting through presentations from high-level club staff in baseball and business. Another such in-person meeting with a third group is scheduled for later this month, according to those people. More will certainly follow.

[PowerBoater69]

The Post says that some private equity fund billionaire from Korea is bidding on the Nats, Michael Kim. Duel US citizen, Harvard MBA. Worked for the Carlyle Group for ten years so he'll have connections to Glenn Youngkin and other locals to form an ownership group.

[Slateman]

Yesssss

[hotshot]

The Post says that some private equity fund billionaire from Korea is bidding on the Nats, Michael Kim. Duel US citizen, Harvard MBA. Worked for the Carlyle Group for ten years so he'll have connections to Glenn Youngkin and other locals to form an ownership group.

Maybe a good connection to Korean talent as well.