April 13, 2018
This athlete investor, about whom I've written previously - is off to a very rough start, early in his inaugural season. His team looks even worse on the field than most people expected, and that's really saying something. Attendance has plummeted - cut in half, even when adjusted for changes made to how it gets publicly reported. In fact, they have already set their stadium's "record" for the fewest number of fans buying tickets to a single game, on 3 separate occasions.
As someone who saw the deal terms from the inside, the financial projections forecast both cost cutting AND a revenue increase in year 1. The entire financial plan, which justified the massive price tag his investor group paid for the team - relied upon that trend to continue in future years. The way things are going, his investors will see most of their investment value evaporated - through taking on additional debt to fund operations, in about 3-4 years.
Derek Jeter
This athlete investor, about whom I've written previously - is off to a very rough start, early in his inaugural season. His team looks even worse on the field than most people expected, and that's really saying something. Attendance has plummeted - cut in half, even when adjusted for changes made to how it gets publicly reported. In fact, they have already set their stadium's "record" for the fewest number of fans buying tickets to a single game, on 3 separate occasions.
As someone who saw the deal terms from the inside, the financial projections forecast both cost cutting AND a revenue increase in year 1. The entire financial plan, which justified the massive price tag his investor group paid for the team - relied upon that trend to continue in future years. The way things are going, his investors will see most of their investment value evaporated - through taking on additional debt to fund operations, in about 3-4 years.
Derek Jeter
I wonder if you could use a baseball stadium for money laundering purposes, it sure would explain a lot.
ReplyDeleteUnfortunately Hedge this wasn't much of a BI. Barry Jackson sportswriter for the Miami Herald exposed Jeters deal months ago. And now they have incorporated the LLC in the British Virgin Islands as of last week.
ReplyDeleteWow this team was a mess even before Jeter.
ReplyDeletehttps://www.theatlantic.com/entertainment/archive/2013/03/the-biggest-ongoing-scam-in-professional-sports-is-in-miami/273644/
THAT'S WHERE I WANT TO GO
ReplyDeleteTO DEREK JETER'S TACO HOLE!
ugh this story is just as boring as the sport of baseball.
ReplyDelete@Brayson87, the way to money launder off a stadium is by faking attendees who pay in cash. Happens all the time in Latin/South American countries. Doesn't seem possible here though since they're focusing on attendance.
ReplyDeleteBaseball is a dying sport.
ReplyDeleteI guess the computer version of the game is more popular than sitting in the stands.
Wow! A high school graduate used to having his ass kissed turns out not to be business genius...who would have guessed.
ReplyDeleteThat's a lot of cash Jeter could have put towards Valtrex.
ReplyDeleteHehehe, fuck you, Jeets.
ReplyDeleteObviously Derek Jeter. This is an easy one. No one expected the Marlins to go anywhere this season especially after dealing Stanton to the Yankees.
ReplyDeleteOhhhhhh....nothin' could be leeeetler
ReplyDeletethan Derek Jeter's lil peter
down at his
taaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaco hole!
There are teams with worse records. Let's yuck it up at them!
ReplyDelete