lowes credit card 0 interest 18 months buy prepaid international credit cards no annual fee credit card with rewards barclays international student credit card credit card balance transfer fee calculator virtual visa card uk prepaid visa credit card no fees consolidate credit cards canada best new credit card bonus offers united mileage plus credit card review accept credit cards online square apply for a visa credit card with no credit history payday online loans no faxing how to pay off high credit card debt fast capital one platinum card payment toys r us credit card customer service number capital one credit card for high school students first premier credit card processing fee are secured credit cards good for rebuilding credit cash back credit card comparison uk which credit card is the easiest to get approval in canada standard chartered credit card balance transfer rate apply chase secured credit card best buy master credit card payment what is a credit card cvv number visa student credit card canada real visa credit card information easiest credit card to get approved for philippines lord and taylor credit card contact quick payday loans no credit check uk small business credit card processing mobile new horizon credit union credit card is it bad to sign up for a credit card and not use it mobile credit card processing canada android cash back visa credit cards canada natwest credit card points should i consolidate all my credit cards capital one first credit card virgin credit card balance transfer deals best credit card for travel rewards uk icici platinum credit card review prepaid reloadable credit cards natwest black card login icici credit card settlement letter format long term personal loans with bad credit ace payday loans promo code what are the best reward credit card programs best low interest credit cards 2011 where is the credit card number on a visa compare commonwealth bank credit cards online cash loans south africa icici credit card late payment charges mastercard careers purchase payday lenders only online payday loans compare new credit card fees in canada $10000 unsecured bad credit loan united credit card bonuses top credit cards in canada 2011 how do you calculate interest charges on a credit card citibank online credit card generator best online payday advance loans cheap mobile credit card machines low fixed interest credit card offers tips for paying off credit card debt quickly top credit cards for business travelers best bank first credit card virtual credit card terminal sears credit card services address make credit card payments with paypal credit card online payment standard chartered credit card no credit check australia how to choose a credit card for college students canada credit card debt reduction instant online cash loans no paperwork south africa first time credit cards no credit best credit card deals to use abroad airtel balance transfer code 2012 easy payday loans uk united credit card offer 50000 apply for a credit card online nationwide royal bank visa card exchange rate hdfc credit card offer on goibibo government travel credit card rules student loans with bad credit history instant credit card number online credit card number validator pay aqua credit card online does applying for a store credit card hurt your credit score average credit card rate 2011 credit limit calculator for hdfc credit card provident gold card check balance best credit card processing company for small business in canada student credit cards instant approval no credit standard chartered credit card payment gateway how to get a credit card if your under 18 canadian tire credit card contact associates visa student credit card instant cash loans no brokers arco gas business credit card mastercard prepaid credit card uk can you consolidate credit card debt with mortgage visa card security code number cibc credit card insurance certificate credit card with travel rewards points how do i apply for a walmart credit card online in canada visa credit cards with low apr where to get prepaid visa cards canada credit card fraud bust nj credit cards after chapter 7 bankruptcy discharge ann taylor credit card payment loft discover credit card payment address want to apply for credit card online hdfc bank ann taylor loft credit card login consolidating credit card debt into a loan payday lenders online no credit check how to negotiate with credit card companies to pay off balance fast easy cash loans for unemployed how do credit card consolidation services work transfer credit card balance 0 interest free online credit card checker petro canada credit card cibc natwest gold card travel insurance reputable credit card debt relief companies santander cash back credit card uk credit cards with travel insurance pay standard chartered credit card payment master credit card numbers that work need a credit card with bad credit 0 percent interest credit cards credit card for no credit rating chase cash advance credit card fees best mastercard credit cards visa credit card applications canada chase credit card business phone number get a payday loan with bad credit and no bank account faxless bad credit payday loans compare credit card how to prevent credit card fraud at gas stations no fee no credit credit card ebay credit card review halifax credit card complaints address what is cash back credit card rewards credit card rewards taxable income leaving us credit card debt credit card debt advice uk credit card apps secured credit card with no annual fee hdfc indigo offer credit card new york and company credit card payment how can i send money online using my credit card can credit card companies garnish your wages in california ibc bank visa cash card aqua credit card apply virgin credit cards online login unsecured credit cards bad credit no bank account citibank credit card settlement process india best credit card for paying student loans flagship mobile credit card processing reviews chase credit card apr walmart credit cards pay bill get credit cards no credit check same day cash payday loans uk can you use ann taylor credit card loft easy payday loans no fees standard chartered bank credit card customer care marriott credit card authorization form fairfield inn new payday lenders online anz nz credit card insurance bank of america alaska airlines credit card canada pay walmart credit card payment top credit cards in canada 2013 do any credit cards offer free travel insurance good credit card deals uk ge money bank toys r us credit card hilton credit card points guy halifax credit card contact address secured business credit card bank of america prepaid credit cards business plan cheap car finance bad credit reward cards hearthstone discovery credit card contact details capital one credit card uk contact best credit card travel deals what is a bad credit score 2013 credit card balance transfer offers for life same day cash advances online visa credit cards after bankruptcy discharge post office credit card payment address credit card fraud detection project download capital one balance transfer to current account hsbc credit card mastercard uk interest free credit card halifax small business start up credit cards for bad credit free real working credit card numbers credit card company target visa credit card payment address apply for business credit card bad credit american express air miles credit card application guaranteed payday loan lenders only best way for a college student to get a credit card credit card calculator spreadsheet template visa credit card numbers list prepaid credit cards visa international use best credit cards after filing bankruptcy department store credit cards with 600 credit score best prepaid credit card total us credit card debt capital one credit card customer service axis bank credit card reward points offers hdfc credit card application form for change of mobile number zero percent credit cards on purchases online credit card fraud detection aqua credit card cash withdrawal limit credit cards offers cash back uob credit card rewards catalogue malaysia canadian credit cards cash back activate td visa card number what are the starting numbers for credit cards sunoco gas credit card login free prepaid visa card can i purchase gift cards with my walmart credit card bank of america corporate credit card rewards western union gold card points uk halifax credit card deals for existing customers can you pay household bills with a credit card top 10 uk credit card companies new york and company rewards credit card login credit card merchant services comparison chart top store rewards cards mastercard exchange rate app canadian credit cards with travel medical insurance myfico credit card finder visa credit card number format wiki hdfc credit card payment emi options how to make an iphone/ipod touch stand from a credit card student credit cards martin lewis american airlines credit card miles 75000 credit card comparison frequent flyer points credit cards comparison chart compare quick loans online rbs business credit card services best capital one student credit card best american airlines credit card offer best credit card rewards comparison apply for discover student credit card low interest rate credit card transfers air miles rewards cards applications instant same day cash loans south africa uml diagrams for analysis on credit card fraud detection methods apply for a credit card online and get instant approval cpp credit card protection review how to get a prepaid credit card in usa southwest rapid rewards credit card 50000 british airways airmiles credit card uk top 10 zero interest credit cards legalsounds not accepting credit cards can i get a chase credit card after bankruptcy us airways credit card offer no annual fee credit card merchant agreement visa getting a credit card with no job international credit card processing merchant account us airways credit card comparison student visa credit card canada consumer credit card protection act 2009 credit card information form html american airlines business credit card and 75 000 miles southwest chase credit card application status bad credit car finance warrington how to use sbi credit card reward points american express platinum card benefits regus starbucks platinum card sold out south west trains network gold card travel rewards credit cards canada 2012 the best credit card for bad credit history american express prepaid credit card application i need a credit card asap bad credit bank of america credit card protection claim international travel tips credit cards canadian tire cash back credit cards apply visa credit cards online payday loans online no credit check australia instant direct payday loan lender recurring credit card authorization form pdf retail store credit cards for bad credit pay walmart credit card visa bad credit cards apply for a credit card online with instant approval your access to natwest credit card online services is locked out hsbc corporate credit card malaysia online payment for hsbc credit cards in india walmart credit card promotions best business credit cards no foreign transaction fees credit card rate reduction services check chase credit card application status how to buy a house with bad credit sbi credit card online apply sears financial credit card review credit card low interest rate balance transfer how do air mile credit cards work 0 interest credit cards offers check my credit score no credit card required hdfc titanium international credit card login credit cards travel rewards comparison apply online credit cards in india icici credit card reward points redeem online apply for a debit mastercard online icici platinum credit card details citibank credit cards contact how to know sbi credit card status analysis on credit card fraud detection methods ieee paper walmart credit card payments visa credit cards for bad credit with no deposit average household credit card debt canada discover credit card phone number customer service online payday loan ontario no credit check direct auto loan lenders bad credit chevron texaco credit card payment login visa credit cards with travel rewards what credit cards can i apply for with bad credit report online credit card fraud how to commit credit card frauds credit card bin number search sainsburys credit card bank of scotland guarantor loans online uk corporate credit card credit check automatic bank of america credit card payment no annual fee rewards credit card australia credit card balance transfer calculator credit card online services rbs what credit card can i get with a 575 credit score hdfc credit card payment through sbi credit card premium credit cards canada how to use a credit card swipe machine icici credit card interest rates in india wells fargo credit card cash advance fees is it worth getting a credit card at 18 hdfc credit card payment types american express credit cards wikipedia delta credit card offers visa visa debit card credit history hdfc platinum credit card reward points value full list of payday loan lenders canada secured credit card compare credit card finder balance transfer easy to get credit cards online can i apply for a sears credit card online pay new york and company credit card online how long is a mastercard credit card number credit cards with no credit check halifax credit card online quick payday loans instant cash square credit card reader iphone ipad pay chase credit card online how to get approved for a car loan with bad credit compare credit cards rewards singapore credit cards compare uk coast capital credit card application online direct payday lenders no teletrack best airmiles credit card with no annual fee cibc low interest credit card valid credit card information online indusind bank credit cards offers pc credit card online banking reloadable credit cards uk credit card points guy free usa virtual credit card international credit card chip best no fee credit card canada paypal accept credit cards fees best us airways credit card offer 2013 barclay credit card online banking sbi irctc credit card reward points credit card machine hire south africa can you apply for credit cards online say no to 0870 natwest credit card halifax credit card uk call centre how to increase credit limit on credit card best student credit card visa credit cards in canada chase visa disney credit card login ge money bank walmart credit card hdfc virtual credit card charges applied bank visa business credit card axis bank credit card online application easy credit cards to get with no credit credit card for bad credit capital one credit card services login best no interest credit card hsbc credit card machine rolls bank of america instant credit card approval number best credit card transfer deals australia how do credit cards work interest rates best high limit credit cards for bad credit apply for chase business credit card pay amazon visa card online apply online icici credit card india how to accept credit card payments on etsy fnb silver credit card interest rates apple store ipod credit card scanner quick cash payday loans north augusta sc free valid visa credit card numbers that work what is the best credit card to use in america what;s the easiest credit card to get approved for with no credit how do i get a credit card if i have a bad credit rating square card credit card reader for iphone ipad & android who issues walmart credit cards chase mastercard credit card sbi credit card apply online in kanpur online visa card number generator square iphone credit card system air canada credit card rewards best types of credit cards to get consolidating credit card debt into mortgage top 10 credit cards in canada 2013 i don;t want a credit card on my apple id sears credit card customer service phone numbers secured credit card for bad credit canada where is the issue number on a visa debit card top rated cash reward credit cards top credit card processing companies in the us company credit card personal use sbi online apply credit cards do company credit cards affect credit score is there a chase student credit card 0 balance transfer no fee credit card offers sears choice rewards credit cards lost credit card cibc does going over credit limit student credit card with no credit iphone credit card reader apple store what is the minimum payment on my virgin credit card amscot payday advance faq discover card approval with bad credit high interest credit cards for bad credit canada hdfc credit cards customer care phone number abn amro credit card online payment india quick and easy online loans in south africa sbi personal loan apply online virtual prepaid credit card uk top ten best rewards credit cards template letter for claiming credit card charges prepaid visa credit cards australia my cash advance payday loans black cardigan women;s cheap does mobil gas station take credit cards low interest payday loans no credit check first premier bank secured credit card application status compare credit cards for travel rewards nationwide online loan quote credit limit calculator c++ disputing credit card charges american express neiman marcus credit card services phone number visa credit card application what is the best credit card to build credit fast capital one visa platinum credit cards random credit card number visa venture capital one credit card no annual fee apply for credit card with poor credit score barclays credit card lost us sbi credit card online application hdfc credit card toll free number hdfc credit card customer care number surat how do credit card companies make money on 0 visa credit card offers for college students what is the best way to consolidate my credit card debt free credit card numbers that work 2014 best reward credit card offers 2013 secure credit card wells fargo magento storing credit card information payday cash loans online credit card search engine uk net pay advance contact credit card debt mortgage difference between gold and platinum hdfc credit cards halifax credit card minimum payment rate bank of america credit card services login best payday loans over 3 months capital 1 credit card sign in alaska airlines visa credit card canada td canada trust gold visa card credit card 0 interest balance transfer united airlines credit card promotion 2012 best international credit card 2011 free online credit card processing for small business 0 transfer credit cards australia going over credit limit chase credit card 12 months no interest standard chartered credit card payment india online chase visa business credit card walmart 24 month interest free credit card barclays credit card contact telephone number bank of america prepaid credit card to build credit best credit card rates 2012 intuit small business credit card processing credit card fraud detection using data mining techniques fnb credit cards applications do all credit cards have 16 digits new york credit card for bad credit best smartphone credit card apps
Home Pete Toms LWIB: More Blame for Selig over Club Debt Problems, MLBAM turns 10, NCAA “no-agent” Rule, plus Tidbits

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 846 guests online

Atom RSS

LWIB: More Blame for Selig over Club Debt Problems, MLBAM turns 10, NCAA “no-agent” Rule, plus Tidbits PDF Print E-mail
User Rating: / 12
Pete Toms Article Archive
Written by Pete Toms   
Tuesday, 29 March 2011 22:56

Last Week in Bizball by Pete Toms

This week in “Last Week in BizBall, more blame for Selig over MLB’s debt troubles, BAM turns 10, NCAA “no-agent” rule, plus tidbits.


LWIB, Forbes published their annual valuations for all MLB franchises. Commissioner Selig must be proud. Despite the recession, Forbes estimates that the average MLB franchise value grew 7% over last year to a record high of $523 million. And you likely know that, again, despite the recession, industry wide revenues last year were a record $7 billion. The bullish outlook was bolstered by this report in the SportsBusiness Journal that MLB is forecasting a 3% to 7% increase in attendance this season. When the subject is the business end of MLB, it must be difficult to find fault with the commissioner’s performance, yes? Evidently not, as LWIB saw another round of Selig bashing in the media (see this LWIB from last month on the first round)

over his negligence in allowing some owners to pile up excessive amounts of debt on their franchises. Monte Burke wrote a piece for Forbes titled Inside Baseball’s Debt Disaster. Burke’s piece details the debt problems of the Dodgers and Mets, both marquee franchises, and lays the blame squarely on Selig for allowing the owners of both franchises to amass such debt on their teams. The report also criticizes MLB (ok, Selig) for allowing former Rangers’ owner Tom Hicks to circumvent rules governing franchise debt by loading it onto a holding company (Hicks Sports Group). HSG defaulted on $500 million plus of debt which eventually led to the Rangers being auctioned off in bankruptcy proceedings. From Monte:

…In numerous interviews with sports bankers and baseball insiders for this article and in preparing FORBES’ annual valuation of baseball franchises, worries over the consequences of debt in the league continually cropped up.

…The debt troubles could also make it more expensive for teams to borrow, dragging on the value of the entire league. At the very least lenders are likely to start demanding to be paid a little extra, now that some banks have been stuck holding on to Mets debt because of baseball’s restrictions on who can purchase it. “We are a pretty stupid industry, but eventually we will realize this paper should be yielding up by a couple hundred basis points,” says one banker.

MLB has indicated it may finally be ready to address some debt issues, but regulating owners is tricky. So far Selig seems unwilling to challenge owners who may resent any meddling in their finances.

The day following the publication of Burke’s Forbes piece, Josh Kosman reported in the New York Post that MLB (ok, Selig) has begun discussions with the MLBPA over changing the rules governing franchise debt:

The move, aimed at avoiding a Mets-like cash squeeze or a Texas Rangers bankruptcy-type scenario, will be centered on widening the definition of team debt, sources close to the situation said.

For example, MLB wants teams to include holding company loans and not just what is directly on team's books when determining total debt, a source with direct knowledge of the talks said.

The new debt rule would be part of MLB's collective bargaining agreement talks with the players' union -- talks that have just begun.

Monte Burke reacted to Kosman’s report: While the exact nature of the rule change is not yet known, it is worth noting that several Major League Baseball teams are currently carrying debt that’s more than 50% of their enterprise value. Those teams: the Mets, the Dodgers, the Detroit Tigers, the Chicago Cubs, the St. Louis Cardinals and the Washington Nationals.

Although I think Baseball’s Debt Disaster is an overstatement, Selig must find a solution. However, he walks a fine line in search of a structure that will be acceptable to both owners and PA. Tighter lending rules could have a negative impact on franchise values. League intrusion into the non-baseball finances of owners could result in more corporate ownership in MLB. The PA needs assurances that franchises can meet payroll and deferred compensation obligations but are also aware that owners’ capacity to borrow contributes to growth in both revenue and franchise values.

You might argue that MLB is a victim of it’s own success. The importance of the Rangers (Hicks Sports Group loan default), Dodgers (McCourt divorce) and Mets (Wilpon/Madoff) in the wider financial entanglements of their owners results from the enormous worth of these franchises. Last month, NYU sports business professor Robert Boland wrote in the SportsBusiness Journal that we should expect more of the same: Perhaps the next lesson of franchise ownership is to recognize that teams can no longer be kept at arm’s length from the rest of an owner’s portfolio. They are simply too valuable now…..teams are targets. Given their huge valuations, franchises will be the target of creditors, especially when they overreach trying to jump to a higher foothold.

It has become evident this year that the conclusion of the Rangers’ bankruptcy did not mark the end of MLB’s debt troubles (it may have marked the end of Bob DuPuy’s stint as MLB’s COO). Reports this year indicate that it may have only been the beginning.



MLBAM (Major League Baseball Advanced Media, aka BAM) is 10. In light of that, LWIB, the SportsBusiness Journal published a BAM retrospective penned by Eric Fisher. Formed by MLB owners as an entirely separate entity from MLB, the role of BAM was to centralize the league’s digital revenues. You know the story, the owners started BAM with a collective investment of $75-$80 million and the asset is now reportedly worth in excess of $2 billion. I have repeatedly questioned in this forum the degree to which the players share in the success of BAM. In other words, how much of BAM’s near $500 million 2010 revenues (according to Fisher) end up in MLB’s central fund? The “leaked financial docs” of last year indicated that clubs are receiving about $2 million a year from BAM. Some believe that picture was incomplete, that BAM’s contribution to the “central fund” is greater. The amount of money BAM contributes to the central fund also, at least ostensibly, also impacts on competitive balance. (Again, at least ostensibly, the motive behind centralizing revenues) MLBAM head Bob Bowman commented to Reuters last year on the owners’ BAM strategy. "As to the right dividend policy ... there's a real push and pull as to how much," he said. "You can probably remit higher dividends, but you're investing in your business and creating an asset." According to the aforementioned SBJ report, the owners appear set to continue with their approach of re-investing BAM profits. Fisher notes that one ancillary benefit to the owners of growing the value of BAM is the direct impact it has on franchise values.

MLBAM also is starting to stake a position as sort of a venture capital firm investing in smaller tech companies. Its recent alignment with Bay Area firm Auditude to develop a new platform for ad serving in live games to mobile devices includes MLBAM taking on a single-digit percentage minority equity stake.

More of these types of equity investment deals are likely for MLBAM. While it has not shown interest in an initial public offering of its own, despite a constant run of calls from investment bankers and years of rumors of IPO valuations of at least $2 billion, investing in other companies still gives the 30 MLB clubs that own MLBAM some additional financial upside.

Those team owners to have been repaid threefold on their initial investment in MLBAM, estimated at $80 million in total, and still retain 100 percent ownership of the company. That’s only a fraction of MLBAM profits over the past decade. The rest continues to be plowed back into the company to fuel more growth. Beyond that, the Nationals, Braves, Cubs, Padres and Rangers over the past half-decade each saw their sale prices boosted by MLBAM’s surging value.

Maybe I’m way off target on this one, I don’t read anybody else questioning this. Maybe BAM’s contribution to increasing franchise values filters down to the players and, combined with payments to the central fund, the PA is content with the status quo. Or, maybe the PA should ask for more from BAM.


Probably because I’m Canadian, I’ve never followed NCAA sports. But I do somewhat follow the litigation and controversies in NCAA baseball over the so called “no-agent rule”. LWIB, Jim Callis of Baseball America wrote about the most recent suspensions of 2 pitchers. Jim contrasts the baseball suspensions with the NCAA’s actions involving Cam Newton (and his dad) and the memorabilia scandal involving football players from Ohio State:

Baseball players don't declare for the draft. They're eligible based on their standing in school or their age. As long as they're not receiving tangible benefits, players should be allowed the benefit of counsel when dealing with a professional baseball team.


Major league teams, college coaches and agents acknowledge that almost every decent draft prospect relies on an adviser. That's not going to change, but the misguided and random persecution of players should. If the No Conscience Athletic Association needs something better to do, I'd suggest taking a harder look at college football.


  • As previously mentioned, LWIB saw Forbes publish their annual valuations of all MLB franchises. The Forbes valuations are always followed by allegations that their numbers are…I’ll be polite…not accurate. This year, Dejan Kovacevic was quick off the mark in calling BS on Forbes for their valuation of the Pirates. (HT Joel Hammond)
  • Greg Hinz updates us on Tom Rickett’s plans to finance renovations to Wrigley Field. Greg tells us that the Cubs owner has already met with Mayor-elect Rahm Emanuel on the subject. There is also some stuff in there about how much money the Cubs could make off signage inside Wrigley and how that is tangled up in the “landmark status”. Also, Ricketts mentioned to Hinz something about closing Sheffield Avenue for a Red Sox-like street festival, although I‘m not sure if that is an idea that was already floated stiffed. (HT Ed Sherman)
  • Fox wants to use “cable cams” over the field of play and would also like umpires to wear cameras this season. Read Michael Hiestand (scroll down)
  • The Nats want new spring training digs. Their current spring training home is in Viera, on FLA’s east coast. Evidently the Nats are happy with the digs but are increasingly geographically isolated from other clubs. Read Ballpark Digest if you are interested.
  • In 08, MiLB bundled all their club web sites together to from BIRCO (Baseball Internet Rights Co.) BIRCO’s partner is MLBAM, which operates all the sites. Earlier this month, Josh Leventhal reported in Baseball America that the formation of BIRCO antagonized some MiLB owners, who would have preferred retaining autonomy over operating their club’s web sites. I’m guessing, but is that what is behind the appointment of a new chairman of BIRCO’s board? Read Ballpark Digest.

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



Should MLB Force Jeffery Loria to Sell the Marlins?