Money loaning in MLB???

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ArgoDave
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Money loaning in MLB???

Post by ArgoDave » Fri Jul 03, 2009 7:13 am

Not just the CFL or NHL I guess...I wonder how much of a stink Brunt will make of this?

http://slam.canoe.ca/Slam/HomeMainStori ... 96-ap.html

From the article: The sport's central office routinely withholds $15 million to $20 million owed each team from central revenues and the sale of the Montreal Expos, and teams may borrow from that with the permission of commissioner Bud Selig.

A caller Wednesday to an XM radio station said the Rangers had failed to make payroll and had to get $15 million from Major League Baseball. The host, former Rangers manager Kevin Kennedy, said he knew something about the situation.

It's not unprecedented for teams to borrow from MLB. In 1992, the Detroit Tigers borrowed about $5 million to make payroll one month.
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Re: Money loaning in MLB???

Post by Inquiring Mind » Fri Jul 03, 2009 9:20 am

ArgoDave wrote:Not just the CFL or NHL I guess...I wonder how much of a stink Brunt will make of this?

http://slam.canoe.ca/Slam/HomeMainStori ... 96-ap.html

From the article: The sport's central office routinely withholds $15 million to $20 million owed each team from central revenues and the sale of the Montreal Expos, and teams may borrow from that with the permission of commissioner Bud Selig.

A caller Wednesday to an XM radio station said the Rangers had failed to make payroll and had to get $15 million from Major League Baseball. The host, former Rangers manager Kevin Kennedy, said he knew something about the situation.

It's not unprecedented for teams to borrow from MLB. In 1992, the Detroit Tigers borrowed about $5 million to make payroll one month.
I think the issue with Braley and the Argos is that it was under the table.

What the MLB does looks very centralized, and I'd say fairly typical. Isn't league revenues the first thing that gets hit up when teams get in trouble in the CFL too? I seem to recall the TV cheques were the first thing to go when the Argos and Ti-Cats got bailed out not too long ago, as I doubt any of the teams would be too keen to do a cash call up front, they'd rather forgo some income on the back end to keep things liquid.

I think a better example would be in the NHL when it was found Anschutz was loaning money to that huckster in Nashville I think it was... and there was a stink raised about that, rightly so.
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Re: Money loaning in MLB???

Post by argolio » Fri Jul 03, 2009 7:04 pm

Inquiring Mind wrote:I think the issue with Braley and the Argos is that it was under the table.
Allegedly. C&S deny the story.
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Re: Money loaning in MLB???

Post by Inquiring Mind » Fri Jul 03, 2009 7:57 pm

argolio wrote:
Inquiring Mind wrote:I think the issue with Braley and the Argos is that it was under the table.
Allegedly. C&S deny the story.
Not much denying in this story... http://www.thestar.com/Sports/Football/article/651968
Cynamon said Braley "became the bank" for the Argo owners back in 2003 to use as a "support mechanism" if the club's losses became too great.

"No sophisticated businessman was going to invest in the team unless there was a reasonable economic opportunity," said a clearly upset Cynamon. "If (Braley) hadn't offered it up, we wouldn't have bought the team."
I'm no english major, but there does seem to be some pretty clear admissions to money changing hands :rotf:
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Look. We can go round and round about this all the live long day. Let's keep it simple. I embody amazement. Can you dig on that? Good. Then meet me on the corner of rock and roll, and bring a flask of something that burns.

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Re: Money loaning in MLB???

Post by argolio » Fri Jul 03, 2009 9:34 pm

They denied most of the main assertions in the original Globe and Mail story, as Damien Cox noted.
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Re: Money loaning in MLB???

Post by Inquiring Mind » Fri Jul 03, 2009 9:39 pm

argolio wrote:They denied most of the main assertions in the original Globe and Mail story, as Damien Cox noted.
They took the money under the table, that was my assertion... hell, they explicitly acknowledge it... so what is your issue with my statement?

Or are we just taking exception to random things the other never alluded to... in which case, NO, Mark Cohen does not molest stray cats in his spare time!
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Look. We can go round and round about this all the live long day. Let's keep it simple. I embody amazement. Can you dig on that? Good. Then meet me on the corner of rock and roll, and bring a flask of something that burns.

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Re: Money loaning in MLB???

Post by Bobbyp » Sun Jul 05, 2009 12:05 am

ArgoDave wrote:Not just the CFL or NHL I guess...I wonder how much of a stink Brunt will make of this?

http://slam.canoe.ca/Slam/HomeMainStori ... 96-ap.html

From the article: The sport's central office routinely withholds $15 million to $20 million owed each team from central revenues and the sale of the Montreal Expos, and teams may borrow from that with the permission of commissioner Bud Selig.

A caller Wednesday to an XM radio station said the Rangers had failed to make payroll and had to get $15 million from Major League Baseball. The host, former Rangers manager Kevin Kennedy, said he knew something about the situation.

It's not unprecedented for teams to borrow from MLB. In 1992, the Detroit Tigers borrowed about $5 million to make payroll one month.
Those poor players how will they ever be able to feed their familys.
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