The Nats are...For Sale?!?

[IanRubbish]

Mini Me gets an honorary degree from GW.  Guessing this has to do with contributions.  He's the nebbish son of a billionaire.  If he had been born into any other family, he'd be a back office accountant at the Dept of Labor ensuring they didn't go over budget for pencils and printer paper.

https://lerner.com/news/distinguished-gw-alumni-mark-lerner-and-mark-shenkman-d-c-delegate-eleanor-holmes-norton-to-receive-honorary-degrees/

[Natsinpwc]

Ted was just on wjfk. Said he’s still interested in the Nats but there have been no conversations

They have his number. 

[imref]

They have his number. 

he pretty much said he will always be interested in buying the Nats.

[English Natsie]

Guessing this has to do with contributions. 

I've lost count of the number of graduation ceremonies I've attended where the citation has gone like 'and today we honor Fred Smith - recognizing his contribution to the Smith Building, along with the Smith Extension, to the library and, of course, the new Smith Data Center...' 

[HalfSmokes]

Ted was just on wjfk. Said he’s still interested in the Nats but there have been no conversations

I’m sure you forgot the word selling, but it works either way

[varoadking]

Ted was just on wjfk. Said he’s still interested in the Nats but there have been no conversations

He has to check and see if Muriel has another half a billion to spend on him...

[Smithian]

Mini Me gets an honorary degree from GW.  Guessing this has to do with contributions.  He's the nebbish son of a billionaire.  If he had been born into any other family, he'd be a back office accountant at the Dept of Labor ensuring they didn't go over budget for pencils and printer paper.

https://lerner.com/news/distinguished-gw-alumni-mark-lerner-and-mark-shenkman-d-c-delegate-eleanor-holmes-norton-to-receive-honorary-degrees/

Occasionally, your anger about him sees more personal than sports related.

[Natsinpwc]

I have a real degree from GW!

[IanRubbish]

Occasionally, your anger about him sees more personal than sports related.

You can't possibly have any respect for the guy.  He's Snydered the org, has an unhealthy relationship with money, and trots out PR fronts to BS the fan base.   I simply don't respect him.   Let's also remember the Giants, playing in a comparable market, are valued at $3.8 million, nearly twice the Nats.  In spite of his love affair for nickels and pennies, he doesn't know how to develop a franchise worth billions, and has cost the business significant value.

[JCA-CrystalCity]

https://www.cnbc.com/2025/04/11/cnbcs-official-mlb-team-valuations-2025.html

CNBC out with its estimates on the value of all 30 MLB franchises.

They peg the Nats as 17th in value, at $2.05B, on revenues of $316 million and "EBITDA" (earnings before interest, taxes, depreciation, and amortization) of $10 million. Debt is estimated at 27% of the value, or a bit over $540 million.

[JCA-CrystalCity]

For some comparisons, the top 3 in our division are the 6th, 7th, and 8th most valuable franchises.

Mets EBITDA is $-272 Million on $446 million revenue for a value of $3.15 Billion. Their debt is 10% of value.

Barves are $3.1 B in value, with $476 million in revenue (more than the Mets ), EBITDA of $8 million, and debt of 8% of value.

Stupid money Phillies are 6th in value at $3.2 Billion with $528 million in revenue, EBIRDA of $42 million, and debt of 4%.

Looking at that, the Phillies seem to be in the most solid shape financially, but for Cohen's nearly unlimited willingness to spend.

Marlins are dead last, at $1.2 Billion on $296 million revenue. Running a profit ($38 million) but enormous leverage (38%).

[JCA-CrystalCity]

To give you an idea of how badly the Nats are run, their revenues look more like the Marlins than the big 3 of the division, as does their debt. The borrowing against the franchise has left the debt more than the original purchase price. This also kind of explains why the MASN fight was so bitter. The underpayments over the years would have wiped out a ton of that debt.

[JCA-CrystalCity]

For now, the O's are 19th in value at $1.85 Billion, while the Nats are 17th, but the Os seem in much more solid financial shape.

Revenues are greater than the Nats at $338 million, even though somehow we are revenue sharing payers and they are receivers. EBITDA is $44 million (6th in baseball), debt is 12% of the franchise value.

[Smithian]

To give you an idea of how badly the Nats are run, their revenues look more like the Marlins than the big 3 of the division, as does their debt. The borrowing against the franchise has left the debt more than the original purchase price. This also kind of explains why the MASN fight was so bitter. The underpayments over the years would have wiped out a ton of that debt.

Yet the Nationals have some of the most brutal prices in the league.

No stadium sponsor, no TV deal, it adds up. Still shocking to see our revenues below Kansas City and Cleveland.

[JCA-CrystalCity]

Fwiw, in looking at the article explaining the methodology,  they explain the revenue is net revenue, net of cbt and other payments. So, the Mets gross a lot more but have tax burdens.

[Ali the Baseball Cat]

If they couldn't do better than that during the SW real estate boom and a soaring local economy, then it really is pretty dire going forward.

[hotshot]

Can anyone think of a Senators/Nats owner or ownership group in the last 100 years that did well by the team?

That would include Clark and Calvin Griffith, General Pete Quesada and his group of ten investors, the stockbrokers Johnston & Lemon, Bob Short, and the Lerners. I'm still waiting on the first good owner.

[Smithian]

Can anyone think of a Senators/Nats owner or ownership group in the last 100 years that did well by the team?

That would include Clark and Calvin Griffith, General Pete Quesada and his group of ten investors, the stockbrokers Johnston & Lemon, Bob Short, and the Lerners. I'm still waiting on the first good owner.

Current ownership group helped oversee construction of a dedicated baseball stadium, delivered a World Series championship, drafted or signed at least 3 Hall of Famers, and twenty years into the franchise being in Washington, DC none of us are afraid of the team moving.

I have plenty of issues with Lerners. I think it’s a bit crazy to compare them to previous owners.

[imref]

Can anyone think of a Senators/Nats owner or ownership group in the last 100 years that did well by the team?

That would include Clark and Calvin Griffith, General Pete Quesada and his group of ten investors, the stockbrokers Johnston & Lemon, Bob Short, and the Lerners. I'm still waiting on the first good owner.

uh, the lerners?  Or have we forgotten what they spent to build a WS team?

[HalfSmokes]

Ted Lerner. His kids suck, but he cared

[welch]

Can anyone think of a Senators/Nats owner or ownership group in the last 100 years that did well by the team?

That would include Clark and Calvin Griffith, General Pete Quesada and his group of ten investors, the stockbrokers Johnston & Lemon, Bob Short, and the Lerners. I'm still waiting on the first good owner.

The Lerners. Clark Griffith had no income outside the team, and neither did Calvin. Clark built great teams by making trades, but the Nats fell to mediocrity as other teams built their farm systems. Griff had prospered by buying players from minor league teams before rich teams began to own those franchises. See, for example, Sam Rice had pitched for Petersburg in the Virginia League. Griffith added him as a throw-in because the owner of Petersburg owned Griffith money: "Add this guy Rice and we'll call it even".

Calvin stole our team off to Minneapolis because all of his brothers and sisters and cousins worked for the Senators.

The New Senators (the expansion team), never had wealthy owners, and it showed when Bob "The Last" Shorted The District for someplace in Texas.

The Lerners were among the richest owners when they bout the New Nationals. They spent on free agents, such as Scherzer.

[IanRubbish]

It's absurd that the Nats are valued that far below the Giants.  A real owner could bring the value up substantially. 

[JCA-CrystalCity]

It's absurd that the Nats are valued that far below the Giants.  A real owner could bring the value up substantially. 

lots more revenue and a lot less debt

[HalfSmokes]

It's absurd that the Nats are valued that far below the Giants.  A real owner could bring the value up substantially. 

The giants are the only team in the Bay Area now

[imref]

https://www.talknats.com/2025/04/30/the-nats-are-sinking-in-debt-per-reports/

says the Nats are carrying the 2nd highest debt load of any team, and have the 4th lowest revenues.