hdfc credit card reward points platinum plus generate credit card numbers for testing best prepaid credit cards usa hotel rewards credit card comparison chase credit card services jobs prepaid gift visa card using chase credit card in canada best credit cards with rewards consumer report gap visa credit card account best exchange rate credit card canada hsbc apply for credit card online buy anonymous prepaid credit card easy way to pay off credit card debt fast chase credit card services nz balance transfer credit card deals best credit cards 2011 for good credit which bank credit card is best in malaysia does bank of ireland have visa debit cards zip code for canadian credit cards best credit card deal 2012 hdfc credit card payment ifsc code how do you apply for a credit card at walmart apply for online payday loan cash advance loans online no credit check does td canada trust have visa debit cards icici instant titanium credit card review credit cards no annual fee indusind bank credit cards apply online average household credit card debt in usa best way to get a credit card in canada malaysia credit card cash rebate comparison best way to accept credit card payments on iphone citibank credit card settlement offer do you need a credit card to build credit types of delta american express credit cards dept store credit cards for fair credit united cash loans scams icici instant credit card activation union bank of india credit card application form download hbc zellers credit card login business analyst in credit card domain credit card bank mega fnb apply online for credit card credit card machine for taxi cabs student visa credit card usa easiest credit card approval 2012 wells fargo unsecured credit card payday loan companies online no credit check legitimate poor credit loans canadian tire credit card minimum limit ifsc code hdfc bank credit cards chennai partially secured bank of america credit card platinum nab credit card travel insurance disney chase visa credit card login online payday advance loans no credit check top 20 credit cards in uk how to apply maybank supplementary credit card credit card bin number search zero percent balance transfer credit cards 2012 pay my first premier credit card bill online apply for walmart credit card login citibank credit card offers unsecured credit card definition how long does it take to get credit card from chase travel credit cards review do aib do visa debit cards national city credit card pnc sample credit card billing authorization form best credit cards with low interest rates business cash advance loans reviews credit card bank identification number easiest way to accept credit card payments target visa credit card discontinued mastercard business rewards credit cards college student credit cards no credit pay value city credit card which department store credit card is easy to get for bad credit capital one credit card settlement offer prepaid us credit card in canada online credit card numbers for sale hsbc credit card rewards points how to get a credit card in canada cibc best visa card rewards canada title loans online fast guaranteed approval credit cards with $10000 limits for bad credit score get a credit card with bad credit unsecured capital one orchard bank credit card application citibank business credit card online payment bank of america student credit card requirements department of education pay loans online balance transfer calculator savings chase visa card phone number hsbc credit card online application status 12 month loans online decision black card nandos ebay cash advance credit card 0 interest gas rewards credit card offers southwest chase credit card no credit check payday loans lenders uk platinum credit cards pay banana republic visa credit card best reward credit card with no foreign transaction fee aspire credit card apply best credit card reader for ipad mini easiest way to get a credit card with no credit paying off student credit card lloyds tsb black card visa requirements credit card account number citibank home loan with bad credit and no money down uk credit card market analysis quickbooks credit card processing reviews payday loan lenders online no credit check what is the credit score range for american express card what;s the best small business credit card low interest credit cards canada rbc how much does it cost for a business to use credit cards chase freedom credit card 5 cash back marriott rewards premier credit card from chase review hsbc platinum credit card cash advance apply for student credit cards with no credit american express credit card no annual fee india easy payday loans uk no credit check student credit card hsbc alaska airlines credit card through bank of america aspire credit card payment online tesco credit card lost what credit cards are made of metal how to negotiate with credit card companies 2010 credit card with no annual fee philippines 2013 apply credit card online instant approval nz top cash back business credit cards visa debit card rewards program bad credit bank accounts apply online shell gas credit card apply amazon visa rewards card interest rate options for accepting credit cards online standard chartered credit card offers on mobiles same day cash loans uk what are reward points on credit cards new small business credit cards bad credit free visa credit card numbers westpac black credit card review petro canada gas credit card can i apply for a walmart credit card over the phone buy prepaid visa card online canada pc credit card limit increase credit card for students in india best credit card student credit card payment protection insurance compensation discount tire ge credit card easiest bad credit credit card get do you pay interest on cash advances credit card number validation javascript philippine credit cards online applications credit card information stolen 2013 lost gnc gold card major credit card company list bad credit loans no guarantor review hsbc credit card application online long term loans with bad credit score credit card consolidation loans aqua card initial credit limit amazon credit card uk login taking credit card payments over the phone cibc prepaid credit card canada barclay credit card customer care number bangalore instant approval credit cards poor credit td canada credit card fees 3d pin icici bank credit cards secured vs unsecured credit cards credit score capital one bad credit credit card credit card debt consolidation wells fargo fast installment loans online axis bank credit cards benefits dubai first credit card charges new credit cards canada 2013 post office 0 credit card balance transfer royal bank of canada prepaid visa credit card visa credit card bank of ireland sbi credit card logins travel rewards cards for students toys r us credit card promotions credit card with bad credit no deposit how do you transfer credit card balance to another credit card american express credit card offer opt out ge capital walmart credit card customer service nab low rate credit card credit cards compare philippines balance on credit card credit score bank of america credit card merchant account citibank cash back credit card accept credit cards free does making the minimum payment on a credit card hurt your credit score valero comcreditcard login natwest credit card protection plan low rate credit cards nz 3d secure credit card validation citibank dept store credit cards after bankruptcy payday loan online decision westpac credit card travel insurance credit card comparisons nz how to get a credit card as a student with no job new business credit cards for bad credit chase international travel credit card best pay as you go credit card standard chartered credit card promotions malaysia post office credit card online banking login credit card payoff calculator chart chase credit card with disney rewards facebook credit gift cards uk payday loans cash advance for bad credit delta credit card reward miles credit card protection act wiki chase credit card for students with no credit credit card online application form $10000 unsecured bad credit loan sears credit card application phone mastercard credit card number hack aadvantage credit card review how long does it take to get credit card after applying i need a payday loan from a direct lender credit card after bankruptcy discharge uk best credit card to use on holiday in usa spider credit card search tool chase credit card application status best credit card to have with no annual fee walmart pay as you go credit cards give me a fake visa credit card number citibank credit card cash advance singapore standard chartered master credit card payment best secured credit cards with rewards apply for shell credit card uk visa card security code invalid what is the minimum payment on my virgin credit card chase credit card balance transfer no fee online credit card fraud statistics cancelling credit card affect credit score canada what are the best credit cards in canada virtual credit card paypal indonesia virgin credit cards login uk black card uk visa jcpenney credit card payment online citi american airlines credit card credit card insurance mis-selling instant payday loan online canada small business credit cards chase gold reward card tfl credit card number location discover sears citi mastercard credit card login how can i get approved for a credit card with no credit commonwealth bank credit card travel insurance review credit cards for small business with fair credit how to apply for hsbc credit card online in india cheap rate credit cards uk chase credit card fraud prevention number delta rewards credit card login how to pay sbi credit card bill online from hdfc ge money bank credit card list bank of america small business credit card offers get a credit card with no credit now list of credit card company in usa valero gas credit card login how do i pay my halifax credit card online chase credit card settlement sears credit cards rewards dining offers on icici bank credit cards leaders merchant services mobile credit card processing how to consolidate credit card debt yourself online credit card merchant services reviews company credit card policy template uk virtual credit card us billing address i need to get a credit card to rebuild my credit best frequent flyer credit cards no annual fee starbucks credit card processing visa cards with travel rewards chase cash advance credit card limit getting a chip and pin credit card in the us pnc visa card services pc mastercard contact ann taylor loft credit card sign in guaranteed credit cards for bad credit uk sbi gold credit card offers disney credit card canada how to apply for apple id without credit card black card visa american express rewards gift cards online payday loans no credit check instant approval payday loans online same day no credit check amazon uk credit card annual fee apply for department store credit cards with bad credit super balance transfer virgin credit card credit cards deals india apply for barclays platinum credit card gap visa credit card account login american express gold card compare all credit cards canada best online payday loan sites credit card for no credit history canada how to get a payday loan with bad credit uk delta credit card offer visa hsbc credit card debt settlement philippines what credit card company accepts bad credit best credit card to get american airline miles verizon visa rewards card balance credit cards with low apr for students bank of america credit card 200 cash back post office credit card payment credit card company liable faulty goods payday loans no credit check no brokers rbc bank visa debit card hdfc credit card payment options neft best prepaid gift credit cards amazon visa credit card application status walmart credit card payment calculator portable credit card machine hire household bank credit cards for bad credit apply for staples business credit card does rbc offer visa debit card apply for a credit card online instant approval philippines costco credit card uk best way to get a student credit card nandos black card how to get credit card debt relief company reviews student credit cards halifax business credit cards for new businesses with no credit what is credit card apr rate citibank australia credit card travel insurance 0 apr purchase credit cards bad credit loans no credit check nz bank of america student credit card denied how do credit cards work apply for a gas card with no credit hong leong bank hello kitty credit card how does chase apply credit card payments credit card comparison 0 transfer fee fake credit card number information that works instant cash loans for unemployed uk top credit cards for students canada credit cards with low interest for students buy virtual credit cards with paypal hsbc credit cards uk contact best deal on credit card gift cards low interest fee credit card scotiabank value? visa card td canada trust visa travel card online payday loan 100 approval consolidate rewards cards app visa card number uk student credit cards with no credit instant approval capital 1 credit card customer service telephone number credit card prepaid canada 0 balance transfer no balance transfer fee credit cards black hello kitty credit card halifax balance transfer to current account best credit cards for poor credit 2012 check status of cibc credit card application idbi credit card apply online india chase credit card bad credit disney credit card reviews 2012 use paypal to buy virtual credit card preloaded credit cards ireland capital one prepaid credit cards no fees axis bank easy credit card form unsecured credit cards to rebuild your credit free reward credit cards canada student credit card reviews canada natwest platinum credit card minimum payment commonwealth bank international credit card fees how to get credit limit increase capital one credit card processing for small business reviews fake visa card number and security code list of free valid credit card numbers hdfc credit card application status disapproved goodyear credit card customer service best unsecured bad credit cards all types of credit cards in india best travel credit card singapore hyatt credit card authorization form axis bank credit card apply online in hyderabad first credit card company ever marriott reward credit card icici instant credit card eligibility best credit card for travel rewards us bank joint credit card application best buy credit card apply kotak bank aqua credit card chase british airways credit card offer credit card deals money transfer student credit card bad credit uk credit card app for phone american airlines 50000 mile credit card black and gold card provident apply citibank credit card online india buy mobile credit card machines applied bank visa business card credit limit canara bank credit card application form wells fargo credit card use in canada best credit card to get to build credit sears credit cards online services phone number to apply for visa credit card bad credit loans no fees online decision best rewards credit card usa compare charity credit cards uk 10 best online payday loans first premier credit card limit increase how to apply for a credit card in axis bank citibank american airlines credit card offers goodyear credit card promotion ge money pc richards credit card login apply for credit card 0 interest rate buy gift credit cards online going over credit card limit hsbc free reloadable visa debit cards freedom credit card review get credit card instantly with bad credit hdfc bank credit card 5 cash back instant credit card application approval best credit card students no credit how to get reward points in hdfc platinum credit card does wells fargo secured credit card report to credit bureaus get online loan without bank account ryanair credit card charges capital one credit card contact phone number hdfc virtual credit card charges how to redeem my icici bank credit card points best airmiles credit card canada payday lenders online only hsbc gold credit card business lowest balance transfer fee hsbc credit card ppi calculator credit card protection insurance compare best gas credit cards for bad credit best uk credit cards 2012 barclay credit card online application i want a credit card to build my credit citibank credit card online payment login credit card merchant services ireland pc mastercard app credit card travel points best bpi family savings bank credit card online application citibank credit card limit calculator payday advance loan uk best credit card to have in india commonwealth bank credit card insurance abn amro credit card online payment india halifax credit card online help report lost chase credit card online online loan companies with monthly payments betus credit card verification form how to pay off my credit card debt faster 0 interest credit card balance transfer free virgin credit card 0 for existing customers halifax student credit card benefits ebay change payment from credit card to paypal reward credit cards 2013 cash advance america ( priority payday ) icici bank credit card limit calculator capital one small business credit card reviews square iphone credit card system credit cards for students with bad credit scores us bank credit card processing charges credit card reader for pc laptop verifone wireless credit card machines business gas cards for bad credit payment address for bank of america credit cards best reward credit cards 2012 best way to raise credit card limits iphone credit card payment system new horizon credit union credit card delta airlines credit card no annual fee citibank gold credit card travel insurance pay citifinancial credit card bill online prepaid credit cards freedom capital one credit card login bad credit loan company no broker sbi corporate credit card customer care best online cash advance reviews need help consolidating credit card debt chase joint credit card account small business credit card machines wireless should i get credit card with annual fee fast cash advance online reviews best buy credit cards online bill pay american express student credit card uk fast cash advance online loans navy federal credit card prime rate best credit cards for low income earners 0 percent credit cards 18 months hdfc titanium credit card travel offers international credit card charges best premium credit cards in india no credit check payday loans online uk clark howard how to choose a credit card stop american airlines credit card offer getting a credit card with a 600 score american express student credit cards apply how do i sign up for a walmart credit card new credit card offers 2011 no fee credit card abroad best delta credit card mqm citibank instant approval credit card
Home Pete Toms LWIB: Mets Financial Woes, Yankees Investing in International FAs, Bowman on Andriod v. Apple, More

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 627 guests online

Atom RSS

LWIB: Mets Financial Woes, Yankees Investing in International FAs, Bowman on Andriod v. Apple, More PDF Print E-mail
User Rating: / 0
PoorBest 
Pete Toms Article Archive
Written by Pete Toms   
Monday, 14 March 2011 16:33

Last Week in Bizball by Pete Toms

This week in “Last Week in BizBall, the Mets financial woes, issues in the upcoming CBA negotiations, Yankees’ investments in international free agents, Bob Bowman on Android vs. Apple and Cubs ask suite-holders if they want to pay for renovations.

The Mets were late, in comparison to many of their peers in MLB, but eventually they did follow the textbook model on how to build a financially successful MLB franchise in this era. In 09, they moved into a brand new ballpark with reduced seating capacity (scarcity of tickets = higher prices), seats closer to the field, fewer seats “upstairs” and the long requisite premium seating/amenities, all which would result in a big spike in revenues. They even sold the naming rights for $400 million. Three years prior they successfully launched their own RSN, SportsNet New York. As cable operators see sports programming as the key to preventing “cord cutting” (Comcast & TWC are the Mets‘ partners in SNY), a team owned RSN provides lucrative, locked-in/long-term guaranteed revenue. In addition, teams frequently undervalue the rights fees they receive from their own RSN (see dispute in sale of Cubs to Ricketts family), all the better to limit their exposure in MLB’s revenue sharing scheme. Save for the RSN, things haven’t unfolded as planned for the Mets. LWIB, Richard Sandomir and Ken Belson detailed how the Wilpon’s best laid plans were wrecked by two vital, and unpredictable factors, the economy and fielding a winning baseball team:

…revenue from about 10,600 club seats and suites and from advertising and concessions dedicated to paying off the Mets’ new $800 million home, Citi Field, fell tens of millions of dollars short of forecasts made just two months before the season began in 2009. That was followed by a nearly 20 percent decline in attendance in 2010 and a resulting slide in revenue that was compounded by an increase in stadium bond payments.

AND

In February 2009, two months before opening day, the team estimated in a financial disclosure document that Citi Field would generate $224 million — mainly from luxury boxes, parking, club seats and advertising — money that would be more than enough to cover their bond payments.

Yet the recession; ticket prices as high as $500, which alienated some longtime fans; and the Mets’ fourth-place finish caused revenue in 2009 to come in well short, at $180.4 million, according to audited team financial statements.

The report also details the Mets well documented debt servicing challenges. There are escalating payments on the bonds issued to finance the construction of Citi Field. They have reportedly maxed out their credit with MLB ($100 million from a loan and credit facility combined). Last year, SNY borrowed $450 million and the Mets refinanced $375 million of debt associate with the ballclub (see here). Plus, coming off a 79 win season, they Mets have further discounted tickets for 11. Oh, I almost forgot, Irving Picard also wants about $1 billion from the Wilpons. Oy.

SELECT READ MORE TO SEE DETAILS ON: The upcoming CBA, Yankees’ investments in international free agents, Bob Bowman on Android vs. Apple and Cubs ask suite-holders if they want to pay for renovation

  • Prior to LWIB I had never read, or been aware of, The Yankee Analysts blog. But, thanks to Darren Heitner, I surfed on to William J.’s analysis of the upcoming CBA negotiations in MLB. This is as an informative, cogent and comprehensive examination as you will likely find. J. lists the CBA items important to the owners as, 1. Intl draft, 2. Slotting, 3. Expanded playoffs, 4. Drug Testing, 5. CBT, 6. “Super Two". On the players side, he sees the important issues as, 1. Salary Floor, 2. FA compensation, 3. Club debt threshold, 4. Minimum Salary. Of particular note to me were his comments regarding the possible implementation of an international draft. While I understand MLB’s motives in wanting an international draft (controlling escalating signing bonuses), I am more interested in the possible long-term impact on the baseball player “labour market”. (see here ) J. shares my concerns, “Of all the potential changes that could come as a result of a new CBA, an international draft would be the most disastrous. As I’ve argued previously, baseball’s immense investment in foreign countries has resulted in a golden age of talent. If owners are given an incentive to cease this investment, the overall talent pool is likely to suffer as a result.”
  • The Yankees have been very aggressive in recent years in signing international free agents. Last year they doled out the second highest amount (just over $5 million) of signing bonuses to international free agents, behind only the Mariners. It appears the Yanks are getting a good return on their investments with C Jesus Montero (Venezuela) and P Manny Banuelos (Mexico) expected to soon play key roles on the big league team. In 09, the Yankees awarded C Gary Sanchez (Dominican Republic) a $3 million signing bonus. This off season, Baseball America ranked Sanchez as the Yankees #2 prospect, behind Montero. LWIB, the Yankees awarded a signing bonus of slightly more than $1 million to Dominican RH Juan Carlos Paniagua. Paniagua is 20 and likely would have signed earlier had he not been previously suspended for a year by MLB over age and identity fraud. Paniagua’s case is the most recent example of the success that MLB is having in cracking down on the decades old problem of age and identity fraud amongst prospects in the Dominican Republic. Ben Badler’s report also notes that RH Carlos Martinez, who the Red Sox awarded $1.5 million last April, had also been previously suspended for a year. Badler also notes that the Yankees are on the verge of finalizing a deal with RH Jose Rafael DePaula, subsequent to his serving of a one year suspension.
  • I often think that I am one of the few remaining people (if we exclude persons under the age of 12) in North America without a cell phone. Many of you might be surprised to know that pay phones remain in existence, although they are increasingly difficult to find. But being a curious sort, I do occasionally read about the battle between Google and Apple for global domination. On that note, in this article , MLBAM head honcho Bob Bowman discusses the difficulties that his company encounters selling apps to Android users, as opposed to Apple. I think I understand the difference between “open” and “closed” and this seems to be at the crux of BAM’s challenges in selling Android apps. Apps infected with malware, “phony” apps pretending to be BAM products, folks “hacking” BAM apps and redistributing them…ultimately is it a result of Google’s ad supported business model vs. Apple’s retail model? I probably got all of this wrong, so you should read the piece.
  • The Cubs have offered to renovate suites at Wrigley Field, if the suite-holder is willing to pay the tab of $11,000 - $15,000. At a quick glance, it makes the Cubs look kind of cheap and greedy. But Ed Sherman asked for both sides of the story and there is a reasonable explanation.

Last Week in BizBall will return March 28.


Pete Toms is senior writer for the Business of Sports Network, most notably, The Biz of Baseball. He looks forward to your comments and can be contacted through The Biz of Baseball.

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?