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Frobby

MASN: the veil finally lifts

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1 hour ago, Frobby said:

- As a result, the amount the Orioles should have gotten is $296.8 mm in rights fees plus $66.1 mm in profits, for a total of $362.9 mm.    This is about $69.6 mm less than the O’s actually were paid.    

- Per the award, the Nats should have gotten $296.8 mm in rights fees at $12.0 mm in profit, for a total of $308.8 mm, $69.6 mm more than they actually got paid.   

- I’ve been operating under the faulty assumption that MASN did not distribute the profits that were in controversy.      That assumption was wrong.     The O’s were overpaid $69.6 mm by MASN and will have to pay that back if the award is affirmed on appeal.   

The $234.9M distribution of profits went to the Orioles team or to the MASN owners?  My assumption is the latter to keep the numbers down.

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39 minutes ago, TonySoprano said:

The $234.9M distribution of profits went to the Orioles team or to the MASN owners?  My assumption is the latter to keep the numbers down.

The MASN owner is Baltimore Orioles, LP.    That’s where the money went.  

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27 minutes ago, theocean said:

Great work, Frobby. Really appreciate the time you've spent explaining a very complicated issue in a very understandable way.

Yes, exactly. Actually, even though 69 million isn’t exactly what Davis makes in a season, it’s not THAT much and the Orioles can pay it.

if they lose on appeal they have to pay the accumulated interest anyway so why not pay and ha’ don wi’ it?

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2 hours ago, Roll Tide said:

So its fair to assume they really could afford $150 Million + per season in payroll      (150 million + 20 million in player benefits)

The 432mill over 5 years is ~86mill per and they may owe about 15mill per year back, leveling to about 71mill.  I know they have other sources, but I don't see how you get to 150million.

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1 minute ago, Philip said:

Yes, exactly. Actually, even though 69 million isn’t exactly what Davis makes in a season, it’s not THAT much and the Orioles can pay it.

if they lose on appeal they have to pay the accumulated interest anyway so why not pay and ha’ don wi’ it?

Let's give the nats 120mill and Davis and call it done.

  • Haha 1

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6 minutes ago, Philip said:

Yes, exactly. Actually, even though 69 million isn’t exactly what Davis makes in a season, it’s not THAT much and the Orioles can pay it.

if they lose on appeal they have to pay the accumulated interest anyway so why not pay and ha’ don wi’ it?

If they win the appeal they get to keep the money and the interest. 

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4 minutes ago, jerios55 said:

The 432mill over 5 years is ~86mill per and they may owe about 15mill per year back, leveling to about 71mill.  I know they have other sources, but I don't see how you get to 150million.

YES was paying the Yankees about $85M before they sold to Fox, so that's actually not too shabby for a much smaller market.

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1 minute ago, theocean said:

YES was paying the Yankees about $85M before they sold to Fox, so that's actually not too shabby for a much smaller market.

No argument, just curious how he got to 150mill.

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13 minutes ago, atomic said:

If they win the appeal they get to keep the money and the interest. 

But they won’t. Manfred will see to that.

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1 hour ago, Frobby said:

The MASN owner is Baltimore Orioles, LP.    That’s where the money went.  

$362.9M/4 = $$90.725M/year from MASN.  That's more than the projected payroll for 2020.   Maybe I'm mixing up apples and oranges, but how would the Orioles not be profitable before all the revenue sharing from MLB as well as from ticket sales etc.?

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5 minutes ago, TonySoprano said:

$362.9M/4 = $$90.725M/year from MASN.  That's more than the projected payroll for 2020.   Maybe I'm mixing up apples and oranges, but how would the Orioles not be profitable before all the revenue sharing from MLB as well as from ticket sales etc.?

Divide by 5, not 4.    Still, it’s a fair bit of dough.    Of course, you’re on to something about revenue sharing.    The rights fees go into revenue that is subject to being shared.    The profits are treated separately and don’t count.     So, the ruling not only lowers our actual revenue by $14 mm/yr or so, but it increases the portion of revenue that is subject to being shared by $20 mm/yr or so.    So, it hurts the O’s in two respects.    Even so, it’s a ruling the team can live with IMO.     

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1 hour ago, Frobby said:

Divide by 5, not 4.    Still, it’s a fair bit of dough.    Of course, you’re on to something about revenue sharing.    The rights fees go into revenue that is subject to being shared.    The profits are treated separately and don’t count.     So, the ruling not only lowers our actual revenue by $14 mm/yr or so, but it increases the portion of revenue that is subject to being shared by $20 mm/yr or so.    So, it hurts the O’s in two respects.    Even so, it’s a ruling the team can live with IMO.     

$72.58M

Since these numbers were hidden it makes me wonder what did Forbes use in their valuations of profit/loss.  Along those lines, the Orioles may have been more profitable than some surmised.

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