cuban_sammiches Posted January 30 Share Posted January 30 We need to find a couple billionaires... 5 Quote Link to comment Share on other sites More sharing options...
Lip Man 1 Posted January 30 Share Posted January 30 That could certainly change the direction of that franchise with their good young core, excellent deep farm system. If those guys are willing to spend money watch out. 3 Quote Link to comment Share on other sites More sharing options...
South Side Hit Men Posted January 30 Share Posted January 30 (edited) Reports in the WSJ as recent as late December indicated the Orioles would not be sold with Peter Angelos alive. Gives White Sox fans at least a sliver of hope. https://www.mlbtraderumors.com/2024/01/angelos-family-reportedly-selling-orioles.html Hope they fall more in the Cohen camp than the Rays Stuart Sternberg camp. Cleveland and Pittsburgh are the lone non-expansion teams to have a longer World Series draught, and the city and fan base can really use some good news going forward. World Series Championship Droughts since the previous millennium - # of Seasons 75 Cleveland Guardians (1948 - Bill Veeck Owner) 55 Milwaukee Brewers (1970 - present) + Seattle Pilots (Expansion Franchise 1969) 55 San Diego Padres (Expansion Franchise 1969) 47 Seattle Mariners (Expansion Franchise 1977) 44 Pittsburgh Pirates (1979) 40 Baltimore Orioles (1983) 39 Detroit Tigers (1984) 37 New York Mets (1986) 34 Oakland Athletics (1989) 33 Cincinnati Reds (1990) 32 Minnesota Twins (1991) 31 Colorado Rockies (Expansion Franchise 1993) 30 Toronto Blue Jays (1993) 26 Tampa Bay Rays (Expansion Franchise 1998) Note - Los Angeles Dodgers fans have not witnessed in person a World Series Championship season since 1988, or 35 seasons ago. Edited January 30 by South Side Hit Men 1 Quote Link to comment Share on other sites More sharing options...
ptatc Posted January 30 Share Posted January 30 They will spend for the first 5 years until all the tax advantages expire. 2 Quote Link to comment Share on other sites More sharing options...
WhiteSox2023 Posted January 31 Share Posted January 31 Lucky Orioles fans. And we wait… 3 Quote Link to comment Share on other sites More sharing options...
nrockway Posted January 31 Share Posted January 31 9 minutes ago, WhiteSox2023 said: Lucky Orioles fans. And we wait… who says the grass is always greener? do private equity bozos actually care about baseball or do they want to produce maximum profit? I've shared my thoughts on Rubenstein in the previous thread about this topic. 1 Quote Link to comment Share on other sites More sharing options...
Chicago White Sox Posted January 31 Share Posted January 31 28 minutes ago, ptatc said: They will spend for the first 5 years until all the tax advantages expire. What tax advantages are you referring? Quote Link to comment Share on other sites More sharing options...
WhiteSox2023 Posted January 31 Share Posted January 31 (edited) 16 minutes ago, nrockway said: who says the grass is always greener? do private equity bozos actually care about baseball or do they want to produce maximum profit? I've shared my thoughts on Rubenstein in the previous thread about this topic. For Orioles fans, much like Sox fans, it’s hard to see a change being worse. The Orioles have had a pathetically low payroll for years but a good front office. We have a higher payroll but an owner that hires the wrong front office people and keeps them employed for far too long. Edited January 31 by WhiteSox2023 3 Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 2 minutes ago, WhiteSox2023 said: For Orioles fans, much like Sox fans, it’s hard to see a change being worse. The Orioles have had a pathetically low payroll for years but a good front office. We have a higher payroll but an owner hires the wrong front office people and keeps them employed too long. Just need visionary private equity like in LA, lol...this is truly a situation where it's hard to imagine WORSE than the next 2-3 years are looking to disenchanted fans quite wary of JR/Hahn promises and PR/salesmanship. 1 Quote Link to comment Share on other sites More sharing options...
Rolle Tide Posted January 31 Share Posted January 31 38 minutes ago, ptatc said: They will spend for the first 5 years until all the tax advantages expire. Hopefully Rubenstein is buying a toy rather than an investment 2 Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 (edited) Rubenstein has said that he was once offered the opportunity to meet Mark Zuckerberg (and invest in Facebook) before he dropped out of Harvard but decided against it, and this is his single greatest investment regret.[15] Rubenstein also said that he turned down a 20% stake in Amazon during the very early years of the company. He told Amazon founder Jeff Bezos that if he got lucky and everything worked out he would at most be worth $300 million.[16] In 2018, he formed Declaration Capital, a family office focused on venture, growth, real estate, and family-owned businesses.[17][18] Mobile home parks controversy Rubenstein was publicly criticized for the work of The Carlyle Group of which he is the chairman, which owns a number of mobile home parks and has been pushing poor people out of their mobile homes by hiking up the rental price.[19] In an episode of Last Week Tonight, John Oliver pointed out that manufactured homes are not easy or cheap to relocate, and so poor residents on fixed incomes face eviction and homelessness as rent increases threaten to price them out of their mobile home parks.[20] wikipedia Billionaire David Rubenstein’s philanthropic efforts trash the Founding Fathers, even though his own business has made a fortune from deals that have profited off the less fortunate. Since 2013, Rubenstein, 72, who co-founded the private equity giant the Carlyle Group, has given millions to entities that repair and upgrade historical monuments and landmarks like the Lincoln Memorial and the Washington Monument as well as Monticello and Montpelier, the homes of US presidents Thomas Jefferson and James Madison. But some say the restoration at the presidential homes has recast the presidents as sinister racists while downplaying their accomplishments. Recent visitors to Monticello and Montpelier have flooded Trip Advisor with complaints about how the former presidents have been virtually reduced to villainous slaveholders in lectures by the tour guides while books on anti-racism and critical race theory by Ibram X. Kendi and Ta-Nehisi Coates dominate the gift shops. Remarked Dan A. after his visit to Thomas Jefferson’s Monticello: “Do your history homework before going, so you can appreciate this great American… the woke tour guide will leave you feeling like he started the Ku Klux Klan.” “They have demonized the founding fathers now,” wrote another recent visitor to Monticello. “Same thing with Madison’s home. I would stay away from places like this. It’s not worth the propaganda.” https://nypost.com/2022/07/30/woke-billionaire-who-trashed-the-founding-fathers-profited-off-eskimos-oil/ Somewhere I can see Balta enjoying this guy. But a quick dive into Rubenstein’s backstory shows he’s not so pure himself. He made his initial fortune in the 1980s by exploiting a tax loophole in Alaska allowing him to profit from deals made with Natives — and the Rubenstein family has been expanding their influence in the 49th state ever since. In 2014, Rubenstein’s then-wife helped elect a governor in Alaska who in turn opened up the state’s $80 billion Permanent Fund, a fraction of which is managed by the Carlyle Group, to special interests. Rubenstein’s daughter was appointed to the board of that fund last month. “Here’s a guy who has taken advantage of other people to climb to the top while he expects perfection from the Founding Fathers,” Dan f**an, a talk show host and journalist who covered Alaska for 25 years, told The Post. “Because of the Rubenstein family and how [his ex-wife] influenced the change in the state’s sovereign fund, the average Alaskan family has lost tens of thousands of dollars.” Balta maybe NOT SO MUCH enjoying this part of the backstory. https://nypost.com/2022/07/30/woke-billionaire-who-trashed-the-founding-fathers-profited-off-eskimos-oil/ Edited January 31 by caulfield12 2 1 1 Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 (edited) You get what you deserve, Baltimore and Angelos. In all seriousness, don't see this ending well. He probably orders the GM to strip the team for parts...trading away their entire farm system to create a JR-esque Washington Generals clone team. $1.7+ billion purchasing price. Predatory capitalism at its finest. Got a great price without a premium for that farm system and unprecedented financial flexibility, at least. Less than 300 murders in 9 years, 11,000 cars stolen last year with 450 this year so far, 30 year lease on a 32 y/o stadium. So as soon as they won their 100th game, who didn't see this coming. Edited January 31 by caulfield12 2 Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 According to the Financial Times, Chelsea have secured an investment of approximately $500 million from Ares Management/(Arougheti, the other billionaire involved in the Orioles' deal), a prominent US alternative asset manager. This injection is expected to be channelled into the club’s stadium improvements and to increase their stakes in other football teams. While the consortium comprising Clearlake Capital and Los Angeles Dodgers co-owner Todd Boehly have heavily invested in new players this summer, Chelsea’s on-field results have been less than commendable. Still the new owners, including Clearlake’s co-founder José Feliciano, are committed to further their investment and translate heavy spending into silverware with help of the Blues’ intrinsic value in the market. “We have bought an asset that is very coveted by many other potential buyers. “Ultimately, we are extremely aligned with that supporter and fan base because the best way to make our club more valuable is to win.” -José Feliciano; Source: Financial Times In a broader context, Ares Management has already raised $3.7 billion last year for investments in sports franchises, leagues, and media outlets. They have themselves injected the $500m via ‘preferred equity deal’, as per the FT’s report. Given Chelsea have yet to sign a new shirt sponsorship deal and plan on undertaking massive investments at Stamford Bridge, as well as BlueCo’s ambitions to expand the multl-club structure well beyond France and RC Strasbourg, successful rounds of investment are more than welcome. Just as long as Ares and co. don’t start using our assets as leverage in credit and capital markets ailing from high interest rates. Chelsea FC raises $500mn from Ares https://t.co/nOsIGrfPiG — Financial Times (@FT) September 20, 2023 https://weaintgotnohistory.sbnation.com/2023/9/20/23882106/chelsea-secure-500-million-investment-from-ares-management-report Sounds like Aroughetti at least knows what he's doing...and is very comfortable from a PR and financial markets standpoint. 2 Quote Link to comment Share on other sites More sharing options...
Snopek Posted January 31 Share Posted January 31 42 minutes ago, caulfield12 said: You get what you deserve, Baltimore and Angelos. In all seriousness, don't see this ending well. He probably orders the GM to strip the team for parts...trading away their entire farm system to create a JR-esque Washington Generals clone team. $1.7+ billion purchasing price. Predatory capitalism at its finest. Got a great price without a premium for that farm system and unprecedented financial flexibility, at least. Less than 300 murders in 9 years, 11,000 cars stolen last year with 450 this year so far, 30 year lease on a 32 y/o stadium. So as soon as they won their 100th game, who didn't see this coming. What 1 Quote Link to comment Share on other sites More sharing options...
Lip Man 1 Posted January 31 Share Posted January 31 https://www.cbssports.com/mlb/news/angelos-family-to-sell-orioles-for-1-725b-to-private-equity-moguls-cal-ripken-jr-involved-per-report/ Quote Link to comment Share on other sites More sharing options...
cuban_sammiches Posted January 31 Author Share Posted January 31 16 minutes ago, Lip Man 1 said: https://www.cbssports.com/mlb/news/angelos-family-to-sell-orioles-for-1-725b-to-private-equity-moguls-cal-ripken-jr-involved-per-report/ I wonder what the involvement of Ripken Jr. means. Is he the face of the new group to make unpopular decisions palatable to the fans? Quote Link to comment Share on other sites More sharing options...
Harold's Leg Lift Posted January 31 Share Posted January 31 The owners take on all the "risk" 1 1 1 Quote Link to comment Share on other sites More sharing options...
Quin Posted January 31 Share Posted January 31 Lord, I see what you have done for others 1 Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 31 Share Posted January 31 2 minutes ago, Harold's Leg Lift said: The owners take on all the "risk" You could have gotten a better return in the S&P 500, I hope that wasn't supposed to be something impressive. 1 Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 46 minutes ago, Snopek said: What Trying to annoy Sports Guy and Rolls Tide lol. That last part was not my quote, btw. Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 17 minutes ago, cuban_sammiches said: I wonder what the involvement of Ripken Jr. means. Is he the face of the new group to make unpopular decisions palatable to the fans? See Ventura, Robin after Dunn/Ozzie/KW 2011 debacle. Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 3 minutes ago, southsider2k5 said: You could have gotten a better return in the S&P 500, I hope that wasn't supposed to be something impressive. Should be closer to 9-11% for VFINX. Quote Link to comment Share on other sites More sharing options...
caulfield12 Posted January 31 Share Posted January 31 23 minutes ago, cuban_sammiches said: I wonder what the involvement of Ripken Jr. means. Is he the face of the new group to make unpopular decisions palatable to the fans? Hasn't been specified yet if it will be more symbolic or more like Jeter in Miami...or A-Rod. "The significance of Cal Ripken Jr.'s involvement adds a sentiment of touch to the transaction. A Maryland native and Orioles icon, Ripken's storied career includes an unmatched 2,632 consecutive games played, earning him the nickname "baseball's Iron Man." Beyond his playing days, Ripken has remained deeply connected to the local baseball community, operating the Ripken Experience and serving as the founding owner of the Aberdeen Ironbirds, the Orioles' High-A affiliate." 1 Quote Link to comment Share on other sites More sharing options...
South Side Hit Men Posted January 31 Share Posted January 31 Rubenstein and friends will not own a controlling interest until Peter Angelos is dead. https://www.mlbtraderumors.com/2024/01/angelos-family-reportedly-selling-orioles.html Quote The franchise will not be sold in its entirety right away. According to Ourand, the Rubenstein group will initially acquire roughly 40% of the ownership stake. The remainder of the Angelos’ family share will be transferred once longtime owner Peter Angelos, now 94, passes away. Previous reports have indicated the family would incur significant capital gains taxes if they sell the franchise in its entirety before Peter Angelos’ death. In terms of ownership involvement in Chelsea, Leeds fans have it right. 1 Quote Link to comment Share on other sites More sharing options...
Lip Man 1 Posted January 31 Share Posted January 31 The franchise will not be sold in its entirety right away. According to Ourand, the Rubenstein group will initially acquire roughly 40% of the ownership stake. The remainder of the Angelos’ family share will be transferred once longtime owner Peter Angelos, now 94, passes away. Previous reports have indicated the family would incur significant capital gains taxes if they sell the franchise in its entirety before Peter Angelos’ death. Which is exactly why JR has made it clear he is not selling while he is still alive. Quote Link to comment Share on other sites More sharing options...
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