Now cut the front office some slack.
Now cut the front office some slack.
Welcome Tyler Kolek or Brady Aiken or Carlos Rodon if not one of them say hello To Alex Jackson.
Meh, not gonna read an article by homer Kap. He is such a suck up to power. He said recently on sportstalk that the farm system was "BY FAR" the worse farm system in baseball the day they took over. What an idiot.
A couple points to add in relation to the Forbes Team Value Rankings....
1) The Cubs are ranked #4 in value overall in baseball. This has no relation whatsoever to how good the Cubs are right now. Forbes is valuing the Cubs as a financial asset. They're calculating value based on expected future revenues, expenses, net income, etc. That valuation is relying heavily on a future TV deal, renovation, and improved team.
2) The Forbes page also states the Cubs had $32.1 in operating income. This probably looks high compared to other teams and may make you think they're not spending everything that they can. However, the footnote states that this number does not account for interest, taxes, depreciation, and amortization. The Kaplan article clearly states that the Ricketts were required to take on $580M in debt. The interest expense on $580M would eat up probably all of that income. That debt also comes with loan covenants from the bank restricting what the Cubs can do. Furthermore, depreciation on Wrigley Field could also eat up a good chunk of that $32.1M.
3) I see a lot of people complaining about the Cubs not "spending like they used to". In the four years since the Ricketts took over, the Cubs have had 4 of the 5 highest payrolls in team history. FACT.
Bottom line. The Cubs' finances are complicated and none of us have enough information to make any grand complaints about the Ricketts being cheap. I don't think they are. So yes, cut them some slack.
Last edited by ChiSportsDaily; 04-25-2013 at 05:15 PM. Reason: correct some wording
I'll just trust you when you say, give them some slack. I have forgave and forgave and given kap chance and chance again, yet he always fails me. No more.
Kaplan has one interesting fact from which he spins a web of embarrassingly sycophantic conclusions.
Fact: The Tribune Co. insisted that whoever buy the Cubs use debt to do it, to save them on taxes.
Conclusion: Nothing bad that has happened is at all Ricketts' fault in any way.
Either Ricketts could have overcome that debt issue with better decision-making, or he shouldn't have agreed to it in the first place. Either way, he still takes some blame.
Great Read...Thanks for sharing!
So if I read that right, we're looking at another few years before we're ready to "put the throttle down"?
1) Bad contracts to Soriano and Marmol to the tune of $30M... Completely gone within two years.
2) Poor revenue streams from TV contracts and ballpark advertising compared to other large market teams... This is the part that will take a few years til the WGN deal expires and the renovation is complete.
3) Poor farm system... The farm system was horrible when the super friends took over, but it's been getting steadily better. Just will take two or three more years for the talented kids to mature.
I'm just absolutely amazed that it was put into writing anywhere that it may be 2015 before Cubs fans can expect to field a competitive team. Not so much by the timing, but that someone like Kap was allowed to put it into print.
I prefer to reserve judgement until BUD Bleachers tells me what to think. In the meantime, I'm going to support the Dodgers by attending one of their games.
Good thing I'm a Pirates fan. We just have to worry about the price of coal.
Citrus prices are also important. Scurvy can derail a whole season if you aren't careful