Rubenstein 1st communication to Orioles fans

[Moose Milligan]

3 minutes ago, NoCilantro said:

In another communcation he said that losing money in sports was very very hard.  That football was printing money all the time but that in basketball and baseball you make money upon selling the team.  I think he isnt going to be skimming profits to have a massive lifestyle was his other money streams dry up.  These new guys are way more wealthy than John Angelos and they actually have worked for their money.  I do not think they will run at a loss but I do think draining every cent out of the Orioles will not be a priorty.  I think they run this team to stay profitable but also as a prestige vehicle for old billionares.  As a new shiny toy.  I think they will want to win.  

 

Just how I see it now.  Maybe after a couple of years things will seem different.  But for now I think they want to win.

First of all, cilantro is perfectly fine. 

That said, I agree with what he said about losing money in sports is hard.  I believe it's a license to print money.

I just don't know what his philosophies on payroll for a sports team are.  I don't know if he'll see a 25-35 million a year salary as being worth it.  

I think they'll want to win, too.  But they already are winners with very low payroll.  It's been mentioned on here time and time again, spending doesn't always equal championships.  

But I know people like to see money being spent because that means that they're trying.

[24fps]

2 hours ago, Moose Milligan said:

I never said that the new ownership would go full private equity teardown on the Orioles.  There's that end of the spectrum, there's the other end of the spectrum where you've flat out expected them to be over 150 million in payroll by 2026.  

I'm assuming it'll be somewhere in the middle.  Probably closer to where your number is, but again it isn't a guarantee.

That's the thing.  We've got a new owner, hopefully he's more adept at the skill of being likable, something that John Angelos wasn't good at.  So far, he's done a great job.

There has been *no mention* of what his thoughts are on spending money and what a payroll should look like.  None.  Zero.

And yet there are posters here acting like Rubenstein is about to go 50 Cent at a strip club, making it rain.

If everyone's so hell bent on thinking that Rubenstein & Co. are going to spend money, bring in shiny new free agents, hand out extensions to our young stars and this is going to be baseball nirvana, then the very same people should also acknowledge the possibility that Rubenstein might be someone who is a big fan of being lean and efficient and not spending unless he absolutely has to.  

I think you have me mistaken for everyone. 

$150 million before 2026 is an increase of $25 million per season.  The increase from 2023 to 2024 is in the neighborhood of $35 million and that's if no one else is added so my expectation is already pretty restrained.  And as I pointed out in my earlier post, that would still be below the median MLB payroll; hardly "50 Cent at a strip club". 

I'm all for lean and efficient, but if you want to talk about extreme ends of a spectrum, the assumption that the new ownership group would be little better than the Angelos family - which is implicit in your post - now that would be extreme. 

I don't believe Rubenstein is going to say anything explicit about funding one way or another at least until MLB signs off on the deal.  If for no other reason then out of respect and simple courtesy to the Angelos family.

[AnythingO's]

7 hours ago, Can_of_corn said:

That's a lie!

He was born in 1949 and the Orioles weren't a team until 1954.

I was also born in 1949 and I resemble that remark, (not a typo) lol. I wasn't cognizant until 1954, yeah that's the ticket. 

[scottbbfm]

1. I don’t believe the expectation is to become the dodgers, but instead be in a situation where finances aren’t a major constraint constantly whined about 

2. Why should we expect this?  David and Co are completely different than Peter. Peter was a one trick pony attorney and still working feverishly when he bought the team because frankly he needed to. 
 

Rubensteins (and other owners) wealth is wildly beyond the Angelos and his success extends beyond his core business.  His philanthropy is unparalleled and is highly respected amongst his peers. And not for being cheap. He’s shown her can compartmentalize a private equity skillset in a way Angelos never could.  
 

3.  I expect significant increases in revenue as changes are enacted. I’m getting constant questions about tickets from my friends - and only after the announcement. 

[cnmilton]

To be fair to Peter, he did spend money on the Orioles, he just spent it on the wrong players.  He spent money on Albert Belle, Tejada, Chris Davis, Adam Jones,  Alex Cobb, Jimenez, etc...

 

 

[Fiver6565]

19 minutes ago, cnmilton said:

To be fair to Peter, he did spend money on the Orioles, he just spent it on the wrong players.  He spent money on Albert Belle, Tejada, Chris Davis, Adam Jones,  Alex Cobb, Jimenez, etc...

 

 

On what planet should Adam Jones be placed with those players in this context?  That’s absurd. 

[Can_of_corn]

1 minute ago, Fiver6565 said:

On what planet should Adam Jones be placed with those players in this context?  That’s absurd. 

Was nothing wrong with the Tejada signing.

[cnmilton]

Sorry, was trying to list a few contracts Peter gave out. Both Tejada and Jones weren't bad contracts. My apologies

[DrungoHazewood]

16 hours ago, Can_of_corn said:

That's a lie!

He was born in 1949 and the Orioles weren't a team until 1954.

There has been a team called the Baltimore Orioles every year since 1882, with the exceptions of 1900 and 1915. He most certainly could have attended hundreds of Orioles games between 1949 and 1953. Four-year-old Rubenstein could have been living and dying with every at bat of Stan Jok.

[DrungoHazewood]

11 hours ago, Moose Milligan said:

I never said that the new ownership would go full private equity teardown on the Orioles.  There's that end of the spectrum, there's the other end of the spectrum where you've flat out expected them to be over 150 million in payroll by 2026.  

I'm assuming it'll be somewhere in the middle.  Probably closer to where your number is, but again it isn't a guarantee.

That's the thing.  We've got a new owner, hopefully he's more adept at the skill of being likable, something that John Angelos wasn't good at.  So far, he's done a great job.

There has been *no mention* of what his thoughts are on spending money and what a payroll should look like.  None.  Zero.

And yet there are posters here acting like Rubenstein is about to go 50 Cent at a strip club, making it rain.

If everyone's so hell bent on thinking that Rubenstein & Co. are going to spend money, bring in shiny new free agents, hand out extensions to our young stars and this is going to be baseball nirvana, then the very same people should also acknowledge the possibility that Rubenstein might be someone who is a big fan of being lean and efficient and not spending unless he absolutely has to.  

I think given that Angelos didn't often spend a lot, and when he did it was often misplaced and mis-prioritized, it's reasonable to think the new ownership group that's coming in in the context and reality of 2024 would be more likely to have better spending habits.

A decent chunk of Pete's cash over the last 30 years went to mediocre 32-year-old free agents, and very little to long-term or forward-thinking investments. I think it's unlikely that the combination of Rubenstein and Elias will do that.

[eddie83]

12 hours ago, Pickles said:

That is how he made his money though.  It's a fair question imo.

Here's a great article: https://blogs.fangraphs.com/the-two-rubensteins/

I haven't see this on the board yet, but I imagine someone has posted it somewhere.

Solid article. I’ve had my thoughts on him but he is 74 years old and a life long fan. 
 

I would be very surprised if he ran the team like he does with his other businesses. Bringing a WS and hopefully more will make him a hero… 

[Orioles5258]

Bottom line, i will take my chances with the guy worth 4 billion over the immature cash poor nepo baby who trashed a hotel room when his dad overruled his decision to move the spring training location to AZ

[Paul in Virginia]

I think one thing hasn't been mentioned solidly enough in this thread to-date.  It appears that Rubenstein is doing this largely/mostly for sentimental/nostalgic reasons. And maybe I misremember, but didn't he make some comments to the effect of "being in my later years" or the equivalent?

Why bother buying a team at that stage of life if your primary motive is making money? Actuarily, there isn't sufficient time to make that "huge capital gain" before selling, which obviously HE wouldn't be around to enjoy. For a guy like him, I'm confident there are better avenues for him to pursue to print cash (and print it NOW) if that's his primary motivation.

Thus, I think it's very reasonable to expect a material increase in payroll. It's clear that he wants to win.

 

[Fiver6565]

50 minutes ago, Can_of_corn said:

Was nothing wrong with the Tejada signing.

Yeah I didn’t even notice that one in addition to Jones. 

[DrungoHazewood]

10 hours ago, Moose Milligan said:

First of all, cilantro is perfectly fine.

Some people have a gene switched that makes cilantro taste like soap. Sucks to be them, I guess.