Wednesday, June 13, 2012

Monopoly money

Ken Rosenthal, everybody's favorite bow-tie-wearing baseball reporter, writes for that when John Moores sells the Padres, which could be soon, he'll get $600 million plus a big chunk of Fox Sports San Diego's money. The $600 million pricetag should be familiar to readers of This Blog. When Moores first tried to persuade Jeff Moorad to buy the team four years ago, he asked for $600 million, but Moorad talked him down by $70 million to $120 million. Here's that story. The sale of the Padres has taken many twists and turns. The one constant is this: Moores looks like the clearcut winner. This is the Padres we're talking about, right? For $600 million plus $200 million in TV money? If the checks don't bounce, the Texas tycoon's grin should stretch from El Paso to Corpus Christi, where Moores grew up.


  1. One thing that confuses me is how much is cash and how much is assumed debt. Another is whether Moores actually took $200 million from the TV deal. I assume the $600 million is the cash and with assumed debt the price is above $800 million. Others have been touting that $800 million without a breakdown of it.

    The part I REALLY can't understand is how MLB would let Moores walk away with $200 million, when it refused to let Moorad do the same, stating that the TV money should stay with the club. Recouping that with a higher price seems to be what Moores is doing, not taking cash out. Will we ever know?

  2. FWIW, Moorad's group would've assumed about $200 million in debt.