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The 2015 Cleveland Indians
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EdMonix11
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Indians acquired Michael Choice from Texas for cash. He was recently DFA'd. The Indians were linked to him pretty heavily in the 2010 draft when they took Pomeranz. Once considered a top prospect.... he's worth the shot in the dark.
JFT
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EdMonix11
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Cleveland Indians owner Paul Dolan is hoping to sell a significant minority stake in the club for a rich price — but he may be playing on a field of dreams.
Dolan, who is under fire from fans for one of the smallest payrolls in the big leagues, hired boutique investment bank Allen & Co. several months ago to shop roughly 30 percent of the team, The Post learned.
He doesn’t have deep enough pockets and is looking to a new investor to ramp up spending on salaries, sources said. The club’s payroll of $76 million ranks 26th among Major League Baseball’s 30 teams.
So far, Dolan, who is the cousin of New York Knicks and Rangers owner James Dolan, is having a difficult time finding an investor, sources said.
One problem is price. Dolan believes the franchise is worth around $800 million, which is rich considering the team is just breaking even.
There are also other strikes against the Cleveland club, according to potential suitors.
The Indians don’t own a regional sports network and are early in a long-term media rights deal that it cannot renegotiate.
“Where’s the upside?” asked one a source familiar with the sale process.
The San Diego Padres fetched $800 million in 2012. While not a winning team at the time, the Padres attracted investors thanks to a $1.2 billion TV deal.
Without a big TV contract, sports industry sources say, the Indians are worth about $600 million.
Meanwhile, in Tribe Town, fans have been calling on Dolan to sell the entire team
“He’s not interested at all in giving up operating control,” one source said.
Dolan has failed to deliver a championship team to fans starved for a title and is getting blamed for not spending more on salaries.
This year has been particularly painful for fans, whose hopes were dashed despite high expectations at the start of the season, thanks to the team’s young talent.
“This is a team that should be in the hunt (for an American League Central Division title),” Dolan said in April to the Cleveland Plain-Dealer. “We should be in the picture.”
But with the baseball season nearing the end, the Indians had a record of 60 wins and 66 losses as of Thursday.
The Dolan family’s roots are in Cleveland. Larry Dolan and his family bought the Indians for $323 million in 1999 from Richard Jacob. Under the Dolans’ ownership, the team made the playoffs in 2007 and 2013, but has mostly disappointed.
When Jacob owned the team, player salaries were among the highest, and games were frequently sold out. Under the Dolans, payroll has been near the bottom — and so has attendance. The Indians have the second-worst home attendance in baseball, averaging 18,309 fans a game.
The Indians did not respond for comment.
http://nypost.com/2015/08/28/the-indians-want-a-new-minority-owner-but-the-price-isnt-right/
Dolan, who is under fire from fans for one of the smallest payrolls in the big leagues, hired boutique investment bank Allen & Co. several months ago to shop roughly 30 percent of the team, The Post learned.
He doesn’t have deep enough pockets and is looking to a new investor to ramp up spending on salaries, sources said. The club’s payroll of $76 million ranks 26th among Major League Baseball’s 30 teams.
So far, Dolan, who is the cousin of New York Knicks and Rangers owner James Dolan, is having a difficult time finding an investor, sources said.
One problem is price. Dolan believes the franchise is worth around $800 million, which is rich considering the team is just breaking even.
There are also other strikes against the Cleveland club, according to potential suitors.
The Indians don’t own a regional sports network and are early in a long-term media rights deal that it cannot renegotiate.
“Where’s the upside?” asked one a source familiar with the sale process.
The San Diego Padres fetched $800 million in 2012. While not a winning team at the time, the Padres attracted investors thanks to a $1.2 billion TV deal.
Without a big TV contract, sports industry sources say, the Indians are worth about $600 million.
Meanwhile, in Tribe Town, fans have been calling on Dolan to sell the entire team
“He’s not interested at all in giving up operating control,” one source said.
Dolan has failed to deliver a championship team to fans starved for a title and is getting blamed for not spending more on salaries.
This year has been particularly painful for fans, whose hopes were dashed despite high expectations at the start of the season, thanks to the team’s young talent.
“This is a team that should be in the hunt (for an American League Central Division title),” Dolan said in April to the Cleveland Plain-Dealer. “We should be in the picture.”
But with the baseball season nearing the end, the Indians had a record of 60 wins and 66 losses as of Thursday.
The Dolan family’s roots are in Cleveland. Larry Dolan and his family bought the Indians for $323 million in 1999 from Richard Jacob. Under the Dolans’ ownership, the team made the playoffs in 2007 and 2013, but has mostly disappointed.
When Jacob owned the team, player salaries were among the highest, and games were frequently sold out. Under the Dolans, payroll has been near the bottom — and so has attendance. The Indians have the second-worst home attendance in baseball, averaging 18,309 fans a game.
The Indians did not respond for comment.
http://nypost.com/2015/08/28/the-indians-want-a-new-minority-owner-but-the-price-isnt-right/
EdMonix11
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CLEVELAND, Ohio – Owner Paul Dolan confirmed Saturday that he has hired an investment broker to help find a buyer interested in purchasing a minority share of the Indians.
"We have always been interested in having a minority partner," said Dolan. "To that end I can confirm that we've hired Allen & Co. to assist us in that process. It's been in place for nearly a year."
The New York Post reported Saturday that the Indians have hired Allen & Co., a privately held boutique investment bank located in New York City.
Dolan added, "We have no intention of selling our majority control interest."
The Post story said the Indians were looking to sell 30 percent of the team. But it's believed a bigger chunk of the team could be on the market.
According to the Post, Dolan might be seeking too much money for a limited share of the Indians. The Post said Dolan values the team at $800 million while industry sources say its worth $600 million.
The Dolan family purchased the Indians for $322 million.
There has been annual speculation about the Indians willingness to sell part of the team. But with the hiring of Allen & Co., this is by far the most serious-minded effort by the organization.
The potential sale of a percentage of the team, according to a source, is in not connected to Indians President Mark Shapiro possibly leaving the organization. The Toronto Blue Jays are interested in hiring Shapiro as their president and a decision could be made this week.
When the Dolans purchased the Indians from Richard Jacobs in 1999, they bought out several minority owners. In doing so, they became one of the few teams in MLB to be owned strictly by one family.
MLB is the only major professional sport in the county without a salary cap and partners be they vocal or silent are necessary to be competitive. The Indians have had one of MLB's smallest payrolls for years. They produced winning teams in 2013 and 2014, but finished with dismal attendance figures each year.
After last year they did extensive renovations to Progressive Field. The renovations have been well received, but the Indians have a losing record this season and attendance is poor again.
In past years when the Indians have shown potential minority owners the nuts and bolts of owning a piece of a big league team, it has not gone well.
Perhaps things will change this time.
http://www.cleveland.com/tribe/index.ssf/2015/08/owner_paul_dolan_has_no_intere.html#incart_m-rpt-1
"We have always been interested in having a minority partner," said Dolan. "To that end I can confirm that we've hired Allen & Co. to assist us in that process. It's been in place for nearly a year."
The New York Post reported Saturday that the Indians have hired Allen & Co., a privately held boutique investment bank located in New York City.
Dolan added, "We have no intention of selling our majority control interest."
The Post story said the Indians were looking to sell 30 percent of the team. But it's believed a bigger chunk of the team could be on the market.
According to the Post, Dolan might be seeking too much money for a limited share of the Indians. The Post said Dolan values the team at $800 million while industry sources say its worth $600 million.
The Dolan family purchased the Indians for $322 million.
There has been annual speculation about the Indians willingness to sell part of the team. But with the hiring of Allen & Co., this is by far the most serious-minded effort by the organization.
The potential sale of a percentage of the team, according to a source, is in not connected to Indians President Mark Shapiro possibly leaving the organization. The Toronto Blue Jays are interested in hiring Shapiro as their president and a decision could be made this week.
When the Dolans purchased the Indians from Richard Jacobs in 1999, they bought out several minority owners. In doing so, they became one of the few teams in MLB to be owned strictly by one family.
MLB is the only major professional sport in the county without a salary cap and partners be they vocal or silent are necessary to be competitive. The Indians have had one of MLB's smallest payrolls for years. They produced winning teams in 2013 and 2014, but finished with dismal attendance figures each year.
After last year they did extensive renovations to Progressive Field. The renovations have been well received, but the Indians have a losing record this season and attendance is poor again.
In past years when the Indians have shown potential minority owners the nuts and bolts of owning a piece of a big league team, it has not gone well.
Perhaps things will change this time.
http://www.cleveland.com/tribe/index.ssf/2015/08/owner_paul_dolan_has_no_intere.html#incart_m-rpt-1
The Wizard of Moz
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Fuck Dolan
The Wizard of Moz
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AZ_
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Nobody is asking you to sympathize, but people having an understanding why the Indians payroll is what it is wouldn't be wholly out of line.
CBBI
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Stark
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Shawn Armstrong (up from Columbus), Chris Johnson (off 15-Day DL), and Gavin Floyd (off 60-Day DL) are the first to be called up for roster expansions.
EDIT: Just noticed that the Indians have Michael Choice on their 40-man roster. When did that happen?
EDIT: Just noticed that the Indians have Michael Choice on their 40-man roster. When did that happen?
Otsego Mar
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I wonder why they brought Floyd up? Is that just a gesture to the vet?
BimboColesHair
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We traded for him after Texas designated him for assignment a few weeks ago when they traded for Will Venable...just sent cash...good bet for a reclamation project, similar to Detroit with JD Martinez...guy was a consensus top 100 prospect before last season.
Stark
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Maybe to see what he has for next season. Perhaps we can have more good luck turning a starter into a reliever like we did with McAllister.