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MASN dispute update

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2 minutes ago, weams said:

A huge amount of Peter Angelos net worth is his stake in Orioles MASN 5-10-15 million is a ton. 

Forbes put the Orioles net worth at 1 billion.

Angelos does not own 100% of the team, but factor in the whole amount.

15 Million is a blimp on the radar of 1,000,000,000.

 

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16 minutes ago, Redskins Rick said:

Forbes put the Orioles net worth at 1 billion.

Angelos does not own 100% of the team, but factor in the whole amount.

15 Million is a blimp on the radar of 1,000,000,000.

 

Blimps may not be quite as massive as a fully rigid dirigible, but they still present a large radar cross section.

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5 minutes ago, DrungoHazewood said:

Blimps may not be quite as massive as a fully rigid dirigible, but they still present a large radar cross section.

It would be like asking the guy with 100K in the bank to fork over $1,500.

He isnt going to feel the pain all that much.

 

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56 minutes ago, Redskins Rick said:

It would be like asking the guy with 100K in the bank to fork over $1,500.

He isnt going to feel the pain all that much.

 

Ask my wife how easy it is to get me to fork over $1,500.    

In my experience, one of the reasons rich people get rich is because they are very careful with their spending.    

Now, the MASN dispute was over (depending on how you want to look at it) at least $100 mm, and more when you consider what the Nats originally asked for and also the longer term precedent set by the rulings.    So $5 mm is not that much in that context.    By fighting the original arbitration award, MASN accomplished two things:

1.    They delayed the final ruling by five years, interest-free.    (Interest only began running when the RSDC entered its April 2019 ruling.)    

2.    The new decision is somewhat more favorable to MASN in terms of how it would apply in future periods, and will probably save them a couple million bucks a year over the long run.    

So, if all you are considering are the monetary aspects, the legal fees probably were worth it.   If you consider the damage done to the O’s relationship with the Commissioner’s office and fellow owners, and some bad PR, maybe not.   But that’s subjective.   

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1 hour ago, Redskins Rick said:

It would be like asking the guy with 100K in the bank to fork over $1,500.

He isnt going to feel the pain all that much.

 

Wikipedia lists a rather questionable source for the $2.1B claim.   Forbes had him listed at $1.2B but has since dropped him off of the billionaire's list.   Be that as it may, even at several hundred million, yes, $5M may be lunch money to him.  However, he doesn't strike me as someone who carelessly throws his money around.  You don't get to where he is by doing so.

But Soprano, the Davis contract proves you wrong.  hah.  Yeah, and remember how he also fought Ponson's contract, and that was chump change in comparison.   Free agent deals or trades his GMs tried to make, died on his desk because he wanted to litigate everything.

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6 minutes ago, TonySoprano said:

Wikipedia lists a rather questionable source for the $2.1B claim.   Forbes had him listed at $1.2B but has since dropped him off of the billionaire's list.   Be that as it may, even at several hundred million, yes, $5M may be lunch money to him.  However, he doesn't strike me as someone who carelessly throws his money around.  You don't get to where he is by doing so.

But Soprano, the Davis contract proves you wrong.  hah.  Yeah, and remember how he also fought Ponson's contract, and that was chump change in comparison.   Free agent deals or trades his GMs tried to make, died on his desk because he wanted to litigate everything.

He fought Ripken Jr hard on his salary and finally gave him, what 8.5 mil?

This was your franchise player, the guy who put the fans in the seat, and sold the most merchendise and in spite of Brook's reputation, was clearly Mr. Oriole at the time.

Not to mention, not caring enough to keep HOF candidate Mussina on the team, that just went to 2 ALCS.

Or manage to piss off your winning manager, and look at the nose dive the team too.

But I ramble down my dislike of King Peter.

 

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We will have to see how this impacts MASN and then, more importantly, the Orioles.  

For the Orioles, it represents additional rights fees $ supposedly for player spend and investments just like the Nats.  However, the Os MASN owners may decide to take the $ back as profits to offset lower MASN profits and not invest it into the team.  

As a fan, however, it represents additional $ that the (Os) owners of MASN have short-changed our Orioles going back to 2012.

If MASN has not set all or a portion of this aside, then I would imagine there would have to be a loan involved of some sort to pay off the Orioles and Nats.  MASN owners who have been used to large profit checks may not be receiving such checks for a while as any loan might be paid down and most certainly as MASN profits take a hit.

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1 hour ago, Redskins Rick said:

He fought Ripken Jr hard on his salary and finally gave him, what 8.5 mil?

5/$30 mm, which at the time made him the highest paid player in baseball.    

Context is important.   

https://www.washingtonpost.com/archive/sports/1992/08/25/ripken-signs-the-largest-baseball-contract-ever/9a22ad66-0c74-47b1-9e9b-0beb96b61b79/

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1 minute ago, Frobby said:

5/$30 mm, which at the time made him the highest paid player in baseball.    

Context is important.   

thanks for the update.

For some reason, I thought I remembering Bobby Bonilla getting a bigger contract, maybe it was after Cal was inked.

 

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40 minutes ago, Redskins Rick said:

thanks for the update.

For some reason, I thought I remembering Bobby Bonilla getting a bigger contract, maybe it was after Cal was inked.

 

Cal’s record was short-lived.    Cecil Fielder got 5/$36 mm the next year.  

Bonilla’s deal was about $1 mm less than Cal’s (and, of course, invoked a ton of deferred comp that the Mets are still paying).   

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1 hour ago, Frobby said:

5/$30 mm, which at the time made him the highest paid player in baseball.    

Context is important.   

https://www.washingtonpost.com/archive/sports/1992/08/25/ripken-signs-the-largest-baseball-contract-ever/9a22ad66-0c74-47b1-9e9b-0beb96b61b79/

Wasn't Eli Jacobs the owner when this contract was signed?

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1 minute ago, theocean said:

Wasn't Eli Jacobs the owner when this contract was signed?

Actually, you are right about that.   But I don’t remember any drama with Ripken’s subsequent contracts.   

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4 minutes ago, Frobby said:

Actually, you are right about that.   But I don’t remember any drama with Ripken’s subsequent contracts.   

I was pretty young at the time, but I do remember negotiations over his last extension dragging on for a while. But, anytime an aging hometown hero is in negotiations for their final contract, it seems like some media drama is always involved:

https://www.baltimoresun.com/news/bs-xpm-1997-04-03-1997093096-story.html

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On 8/27/2019 at 9:37 AM, spiritof66 said:

The question that I don't know the answer to, and guess I'll never know the answer to, is whether the Orioles understood that they were agreeing to post-2011 rights fee payments in amounts that were poorly defined and would be determined by unknown persons of unknown competence, loyalties and biases, but concluded that they had no better option.

If Angelos is the great lawyer everyone makes him out to be,  it would be pretty stupid for him not to know this pre-settlement.  In fact, it would be gross negligence on his part not to have documented how these fees would be determined.  A major outflow from your business is not something you just leave to chance and hope it works out for the best.  His minority shareholders would sue him.  Which would be pure comedy. 

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9 minutes ago, Beetlejuice said:

If Angelos is the great lawyer everyone makes him out to be,  it would be pretty stupid for him not to know this pre-settlement.  In fact, it would be gross negligence on his part not to have documented how these fees would be determined.  A major outflow from your business is not something you just leave to chance and hope it works out for the best.  His minority shareholders would sue him.  Which would be pure comedy. 

He was an ambulance chaser type lawyer.  I am not sure anyone ever said he was a great lawyer. 

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