Moorad casts spell to conjure up $150 mil...
Baseball source said Moorad has already initiated a capital call on his partners to pay the (approximately) $150 million still owed to Moores.
Is Moorad doing this to speed up the TV deal or is he just tired of reading nasty Gaslamp comments about the Padres layaway plan?
5 months ago
Hormel
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That would be terrific
Seems there is real incentive for them to pay it off now.
by Antonio Olivares on Dec 15, 2011 1:12 PM PST reply actions
or
should Moorad asked the partners to pony up $30 mil for payroll
and conjure up a few wins – which would sell more tickets?
On the other hand, you have different fingers.
How about they just conjure up the wins
And not worry about the $30M for payroll?
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Maybe they can actually pay real MLB players
I know I know I kid
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Moorad can accomplish three things by completing the sale:
1. The TV contract AND majority ownership get approved.
2. John Moores’ ownership recedes in the rear view mirror.
3. We gaslampballers can move on to new and exciting complaints.
by wegotballsley on Dec 15, 2011 6:48 PM PST reply actions 1 recs
Like why we don't have any personal jets to fly in those of us who don't live in CA?
seriously, I would go to a lot more home games if they would just spring for a private plane to pick me up and fly me back and forth every so often.
OK, what other crazy demands do we have?
time machines
I want to watch baseball in the mesozoic era
On the other hand, you have different fingers.
i wonder how much of this is business and how much is baseball
obviously from a business standpoint you want to complete the sale as soon as you are reasonably able to, but the faith-keepin’ padre optimist inside me is wondering if moorad is trying to better position himself for 2013 and 2014 since the organization is looking so much more promising than when he took over.
From a business point of view
Since they are not paying interest, they lose the earnings on their cash if they pay it off early. That raises the cost of the transaction by the amount they could of earned during that time period. That being said the business point of view sucks and I would prefer they complete the transaction now.
i was under the impression
that they were paying interest. if they aren’t then i agree its not smart to pay off early. on top of the time-value of money argument i’m sure they’d also like to start taking full-control of the club after the economy picks up some steam.
by iheartyourfart on Dec 15, 2011 9:43 PM PST up reply actions
Still amazes me that Moorad's group paid almost a 100 million more than the Padres are worth
To buy the team. I mean I KNOW that the Padres are worth it. But how was it worth it to these business men who have now put themselves massively in debt to do so and have still realized no return on the investment.
thanks for bringing that up
it has always struck me as odd
however, according to Forbes, the team did throw off $37 mil last year
which is pretty good, considering the appreciation of the team value these owners will get – when they decide to sell
On the other hand, you have different fingers.
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