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Thread: Cubs' Tom Ricketts Crying Poor

  1. #1
    Member Ron Madden's Avatar
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    Cubs' Tom Ricketts Crying Poor

    Chicago Cubs owner Tom Ricketts pushed back on the perception that baseball teams are cash cows, telling ESPN on Tuesday that yearly revenues are mostly put right back into the team.

    "Here's something I hope baseball fans understand," Ricketts said. "Most baseball owners don't take money out of their team. They raise all the revenue they can from tickets and media rights, and they take out their expenses, and they give all the money left to their GM to spend.

    "The league itself does not make a lot of cash. I think there is a perception that we hoard cash and we take money out and it's all sitting in a pile we've collected over the years. Well, it isn't. Because no one anticipated a pandemic. No one expects to have to draw down on the reserves from the past. Every team has to figure out a way to plug the hole."
    https://www.espn.com


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  3. #2
    Member Tom Servo's Avatar
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    Re: Cubs' Tom Ricketts Crying Poor

    Poor guys. We really should help relieve their burden and nationalize all the teams with public ownership.
    “I don’t care,” Votto said of passing his friend and former teammate. “He’s in the past. Bye-bye, Jay.”

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    Re: Cubs' Tom Ricketts Crying Poor

    If you don’t make any money and you don’t have any passion for it, why own an MLB team in the first place? Sell to someone interested in fielding a competitive team. Ownership is not compulsory.

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    Re: Cubs' Tom Ricketts Crying Poor

    First, this ignores how much MLB franchises rise in value over time. Rickets bought the Cubs for $900M, and they are now worth $3.2B. If they had received 10% interest over that time, they would have $2.5B. So they made nearly a billion dollars more than a great investment.

    Second, for the Cubs, this ignores that they own their own TV network. That also gained in value greatly over time.

    Thirdly, and most importantly, “expenses” means salaries for Ricketts and the other investors, and easily could include yachts, private planes, etc.. bought with the team money. Many owners have been accused of using the team as ATM’s for their own expenses. Frank McCourt was notorious for this.
    Hoping to change my username to 75769023

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  9. #5
    rest in power, king Wonderful Monds's Avatar
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    Re: Cubs' Tom Ricketts Crying Poor


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    Re: Cubs' Tom Ricketts Crying Poor

    Jay Jaffe
    @jay_jaffe
    such a shame that the economics of baseball make it so that a small market team like the <squints at notes> Chicago Cubs has to trade their best pitcher just so that <squints at notes again> the billionaire Ricketts family can turn a more handsome profit.

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    Re: Cubs' Tom Ricketts Crying Poor

    Sure was a good idea to play with Bryant's service time so they could have him at a lower cost in 2021.

    The Rickett's sank a zillion dollars into the neighborhood around the ballpark, now when it costs more to hang out around there the fans can thank him for having the starting staff with the lowest average velocity in MLB as they drink and stare at the park that raises the W flag less and less each year.

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    On the brink wolfboy's Avatar
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    Re: Cubs' Tom Ricketts Crying Poor

    Someone send this guy a $600 check, stat!
    How do we know he's not Mel Torme?

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    Re: Cubs' Tom Ricketts Crying Poor

    Quote Originally Posted by westofyou View Post
    Sure was a good idea to play with Bryant's service time so they could have him at a lower cost in 2021.

    The Rickett's sank a zillion dollars into the neighborhood around the ballpark, now when it costs more to hang out around there the fans can thank him for having the starting staff with the lowest average velocity in MLB as they drink and stare at the park that raises the W flag less and less each year.
    Sank a zillion dollars to zap a neighborhood of its character and erect chain restaurants and bland bars inside of boring architecture.
    "In our sundown perambulations of late, through the outer parts of Brooklyn, we have observed several parties of youngsters playing 'base', a certain game of ball. Let us go forth awhile, and get better air in our lungs. Let us leave our close rooms, the game of ball is glorious"
    -Walt Whitman

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  19. #10
    The Lineups stink. KronoRed's Avatar
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    Re: Cubs' Tom Ricketts Crying Poor

    He is being honest in the first part, that part about "they take out their expenses" is code for massive profits and massive piles of cash sitting around.

    Those poor poor billionaires.
    Go Gators!

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    Re: Cubs' Tom Ricketts Crying Poor

    the cubs need to re sign rich nye

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    Re: Cubs' Tom Ricketts Crying Poor

    .

    Shortly after the interview ended...


    Quote Originally Posted by BCubb2003 View Post
    Don't worry. I'd say the game threads are about league average.
    Phil Castellini puts the FUN in Trust Fund.

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    Knowledge Is Good Big Klu's Avatar
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    Re: Cubs' Tom Ricketts Crying Poor

    Quote Originally Posted by KronoRed View Post
    He is being honest in the first part, that part about "they take out their expenses" is code for massive profits and massive piles of cash sitting around.

    Those poor poor billionaires.
    "I am Elmer J. Fudd, millionaire. I own a mansion and a yacht."
    Eric Stratton, Rush Chairman. Damn glad to meet ya.

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  26. #14
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    Re: Cubs' Tom Ricketts Crying Poor

    He does such a poor job of articulating the point and is so unrelateable to the audience he’s speaking too.

    We get it, players contracts are generally set and negotiated based on the premise of your teams revenue and that revenue is mostly gone.

    So they will negotiate fewer than 162 games, will increase playoffs again, free agent contract value will diminish, fewer teams will participate in free agency, and work to find new revenue pockets to ease the burden.

    But to the point of being a huge market team that has increased equity massively and selling off the entire team is a joke. This particular owner could very easily contribute some personally above what the average team does, and still come out well ahead as an investor to provide the team he owns and city he theoretically loves with a chance to compete in a one off weird year in a once in a lifetime pandemic. This isn’t going to be an annual routine where he needs to be charitable, it’s facing the repercussions that come with the risk/reward relationship of owning a team, one that has made him tons of money.


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  28. #15
    Member Ron Madden's Avatar
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    Re: Cubs' Tom Ricketts Crying Poor

    Jeff Passan ESPN

    Twenty-nine baseball teams had the opportunity to acquire one of the best pitchers in the world for little more than a handful of lottery tickets, and only one jumped at it. If the frozen free-agent market this winter weren't enough of a sign that Major League Baseball has a problem with anti-competitiveness, the trade of Yu Darvish to the San Diego Padres sent a clear reminder that inaction isn't just an on-field problem.

    The Padres' aggressiveness in dealing for Darvish and former Cy Young winner Blake Snell over a 24-hour period stands in stark contrast to the vast majority of the rest of the sport, which has been hamstrung by an ownership class using the coronavirus pandemic as an excuse to pare payroll. Money was the contributing factor in the Chicago Cubs, one of the sport's jewel franchises, shipping off Darvish, their best player in 2020, for a year of starter Zach Davies and four prospects, three of them teenagers who haven't taken a professional at-bat and one a 20-year-old with less than 300 in rookie ball.
    https://www.espn.com

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