John Moores might wind up back in control of the Padres
"John Moores might wind up back in control if Jeff Moorad can't meet his financial obligations..."
5 months ago
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WHile I think it could be possible
When I see a rumor or story like that that is not sourced, especially from another city, I have to wonder how much stock to put in it. While its worded some in ownership are worried- Really? Multiple minority owners talked to a CHICAGO newspaper regarding the ownership of the Padres? Or maybe a certain person familiar with Padres ownership that just moved to Chicago (Here’s looking at you Jed) Is stirring the pot?
Like I said at the top, it could be true, but to see it breaking out of Chicago strikes me as funny.
Scowling at Padres Losses since 1981
by Nater Tater on Dec 26, 2011 11:23 AM PST reply actions 1 recs
Yeah didn't we hear last week that Moorad was trying to accelerate his purchase
Wouldn’t that be an opposite piece of info? Not that I don’t want Moores involved. He did get the Pads to the series, get PETCO built, and now that his divorceis settled so are his finances.
by athletics68 on Dec 26, 2011 12:51 PM PST reply actions 1 recs
What a fucking load of made-up bullshit.
www.FriarsOnCardboard.blogspot.com
"jbox does not drink coffee, as it makes him clean house big time." ~Kev
by TheThinGwynn on Dec 26, 2011 2:21 PM PST reply actions 1 recs
that is what I thought about the Latos rumors
On the other hand, you have different fingers.
by Hormel on Dec 26, 2011 6:54 PM PST up reply actions 1 recs
thats why i think it COULD be true
but at least the Latos rumors still were reported and broken by a San Diego source.
Scowling at Padres Losses since 1981
yeah, funny that it came from Chi town
Because there’s no one out there who was recently close enough to baseball operations in San Diego to know shit about what’s going on h… Oh wait. Theres that guy…. And that other guy. This would make my day if it were true only because of how the MLB pretends as if it is very strict about its guidelines regarding only letting people buy teams that are able to afford them. Ahem… Frankie McCourt anyone?
"Well, he ought to go home and find somebody else to bang." Jerry Coleman
by cubbuster on Dec 26, 2011 8:26 PM PST via mobile reply actions
Total BS.
Forbes says the Padres are raking it in and they are about to sign a major television contract.
but...
is all that money going into paying off the loans?
On the other hand, you have different fingers.
He didn’t seem broke when he bought the AAA team. He promised an increase in salary this season and just took on salary in a trade. He doesn’t look like a sinking ship to me but the delay in the TV deal is a little troubling.
by SeeAnFrockOh on Dec 27, 2011 7:48 AM PST up reply actions
it doesn't look like a sinking ship
however, if the new TV deal brings in an extra 15 mil a year and the payroll is only up 5 mil
it only enforces the layaway perception
On the other hand, you have different fingers.
by Hormel on Dec 27, 2011 9:50 AM PST up reply actions 1 recs
speaking of
what is the status of the Escondido ballpark?
by kevintheoman on Dec 27, 2011 4:39 PM PST up reply actions
Last report was
Still dead unless redev is saved. That’s actually good news for us. Moorad will be selling the T-Pads soon then if it stays dead which means he’ll have approximately 30 million extra lying around.
by athletics68 on Dec 28, 2011 10:47 AM PST up reply actions
Dun, dun, DUN!!!
Ehhhh, I don't deserve a signature...
by sdchicken on Dec 26, 2011 11:21 PM PST reply actions 2 recs
i rec this
purely because of the blue cursor…plus it’s funny.
"...and never forget that until the day when God shall deign to reveal the future to man, all human wisdom is summed up in these two words,-Wait and hope."
I noticed it as soon as it posted. It made me giggle a bit more.
Ehhhh, I don't deserve a signature...
I honestly doubt this is true.
I think they only have line 2 more payments. Why would they crap out now?
Padres Fan.
I blame Panda Express.
This is a terrible thing for the Padres. - Jerry Coleman
by Padres_Hobo on Dec 27, 2011 8:58 AM PST reply actions 2 recs
I blame Polar Express.
www.FriarsOnCardboard.blogspot.com
"jbox does not drink coffee, as it makes him clean house big time." ~Kev
by TheThinGwynn on Dec 27, 2011 10:41 PM PST up reply actions 1 recs
I blame the Kung-Fu Panda
Yakety Sax: Making divisional matchups hilarious since 1963.
Gaslamp Ball: SMELLS LIKE PROSPECTS IN HERE
Please, call me StrangeBro.
by StrangeBroP25 on Dec 28, 2011 9:21 PM PST up reply actions
Moores is still in control of the Padres
Nothing changes until Moorad’s group crosses the 50% marker.
Speaking of the T-Pads
Anyone see this rendering of their proposed ballpark in Escondido? This is the first I’ve seen of this. Also we find out its fate in about 10 minutes when the CA Supreme Court rules on redevelopment’s fate.
Well, the Escondido ballpark is dead.
BTW, Moorad didn’t pay #30 million for the AAA team, that figure was the cost of the ballpark if Escondido had the redevelopment money to build it.
Another BTW – Moorad’s group paid $145 million for just under 50%, with a bit more than that due to buy out Moores. It can be in one, two, or many payments, but the next one will give the Moorad group a majority interest, the sale will be “official” (and there are some financial considerations to that) and the final payment for 100% has to be made sometime in 2014. The only way Moorad “can’t meet financial obligations” is if his group can’t come up with the cash. The group collectively is worth several $ Billion, but net worth isn’t spendable cash. The purchase agreement isn’t public, so there’s no way of knowing if it would allow the group to purchase over 51% leaving Moores as a minority owner, and still be considered a completed sale.
These kinds of details, alternatives and contingencies are why lawyers make a lot of money.
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