His non-threat threat to sell the team by 2023 if there is no new stadium isn't the biggest piece of news...but his not-so-subtle indication that this is the last chance to satisfy the team's needs may be. Especially since half of city council has identified concerns with approving it (vote is set for Thursday).
"There's nothing (more) for me to do at that point,'' Sternberg told the Tampa Bay Times. "People are going to walk in and negotiate again? Re-, re-, re-, re-negotiate. It depends what I guess comes out of it. If it does (fail) I would like to think people have a reason for not voting for it. And if they do I don't know what we can do at that point to satisfy that. We're full at this point. This is it. I don't see us changing this much more than a minor way, if at all.''
Re-re-re-negotiate?
Well, yeah. It happens all the time in business; in government; and in baseball too.
Judging by many reactions to the negotiated settlement and even by Mayor Kriseman's comments, the team obviously refused to budge much on the numbers. So if council doesn't approve it, what can the Rays do other than sell the team?
- They could offer money to help demolish Tropicana Field - as was once on the table - to help the city move on from baseball and recover their investment;
- They could offer more money for leaving their agreed-upon deal early, including something for the 2027 season, which they wouldn't compensate the city for as it currently stands;
- They could open their books to show their "dire" situation.
Because, as I've been saying for four years, a new TV contract will prevent the team from crying poor after 2016.
Look, Sternberg selling the team is one of the biggest threats to Tampa Bay's future baseball prospects, but remember he's a businessman first. If he wasn't making money now, he'd have sold the team already. There are many more years to play out in this saga, so we can't make a big deal out of every threat the team mentions...there will be many more to come down the road.
Even if Sternberg is not making money operationally now, which is highly unlikely, the value of the team is appreciating every year. He paid about $180 million for the team in 2005 time frame. He can sell it today for $500 million, or more, if there is more than one prospective jock sniffing billionaire buyer.
ReplyDeleteJust saw an article by the excellent Maury Brown which said that MLB's revenues soared to $9 billion for the 2014 season. It seems utterly unfathomable to me that any team could operate in the red in that climate.
DeleteBetween the local and national TV deals, a comparatively low payroll, and a (presumably) eight-figure revenue sharing check every year, no chance that the Rays are losing money year to year -- and as you said, any losses they may be posting can be offset, and then some, because the value of the franchise is soaring through the roof.
Enough is Enough of these whiny brats in St.Pete. MLB told the city not build the stadium. Sternberg is rich yes. It seems like it sour grapes now. St. Pete residents don't support the team but cry when they want to leave. St. Pete is a minor league city in a major league world. Noah Pransky is an exceptional jouurnalist. Noah don't you think it's time to let this go. It is time to move in a positive direction. The only place for the Rays is in the gateway, but most beneficial in downtown Tampa. Foster wasn't voted out due to lack of change. People in St. Pete reading this. If you won't come out to the games, please just shut up!!!!! You don't have a leg to stand on!!!!!!
ReplyDeleteGlen must be from St.Pete. This isn't about the lease now. It sour grapes and loss of control. They tell the Rays they can't look, but people from St.Pete don't show up. I admire Kriesman for bringing about change. Noah is a great journalist, but seems to to be St.Pete's mascot. People in St.Pete don't have thick skin. If they did, they wouldn't get so butt hurt over the Rays wanting to move to Tampa. Most of the season passholders. Glen (St.Pete resident) get over it. The Rays need and deserve to get out of St.Pete!!!!!
DeleteNoah, has their been any word on season ticket renewal rates for the Rays? I'm really curious after a disappointing season and losing GM/manager, what the impact to the attendance will be.
ReplyDeleteNo, they have repeatedly declined to release that info.
DeleteNothing to stop MLB from creating a "new" franchise, transferring all the Rays players/assets to the new team, then leaving the corporation which signed the Use Agreement with no team and no assets, just an empty shell. Especially if they found a foreign buyer for the shell. The City could sue for damages, but there would be nothing to collect.
ReplyDeleteToo risky to their anti-trust exemption...they'd never risk a court decision on it.
DeleteThat 3rd anonymous comment is definitely Steve Duemig.
ReplyDeleteHii great reading your blog
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