BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Red Sox catcher pays price for not understanding business of baseball]]>http://www.bloggingstocks.com/2009/01/22/red-sox-catcher-pays-price-for-not-understanding-business-of-bas/http://www.bloggingstocks.com/2009/01/22/red-sox-catcher-pays-price-for-not-understanding-business-of-bas/http://www.bloggingstocks.com/2009/01/22/red-sox-catcher-pays-price-for-not-understanding-business-of-bas/#commentsFiled under:

Many homeowners are now running into trouble with their mortgages because they didn't understand what they were getting themselves into when they signed up for artificially low payments with teaser rates. Then the payments exploded upward and now they're facing foreclosure. Similarly, free agent catcher Jason Varitek has cost himself millions of dollars because he didn't understand Major League Baseball's arbitration process.

Varitek served as the Red Sox catcher from 1998 through 2008 but at age 36, his numbers have been in decline for the last two years. At the end of the season, the Red Sox offered him arbitration -- a process by which Varitek and the team would exchange proposed salaries and an independent arbitrator would pick which number was most appropriate. Because of MLB rules, the least Varitek could have made was $10 million for the season.

Varitek rejected the offer of arbitration and became a free agent and because he is a Type-A free agent, any team that signs him will have to surrender a first round draft pick to the Red Sox.

Continue reading Red Sox catcher pays price for not understanding business of baseball

Red Sox catcher pays price for not understanding business of baseball originally appeared on BloggingStocks on Thu, 22 Jan 2009 17:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BaseballJason VaritekJasonVaritekRed SoxRedSoxThu, 22 Jan 2009 17:15:00 EST<![CDATA[Are the New York Yankees for sale?]]>http://www.bloggingstocks.com/2007/08/04/are-the-new-york-yankees-for-sale/http://www.bloggingstocks.com/2007/08/04/are-the-new-york-yankees-for-sale/http://www.bloggingstocks.com/2007/08/04/are-the-new-york-yankees-for-sale/#commentsFiled under: ,

Is the most-storied franchise in baseball history for sale? The New York Times Dealbook speculates that with YES, the Yankee's television network currently up for sale, that the team itself might not be too far behind. Much of the speculation is based on a recent article in Fortune magazine. There are rumors that owner/lunatic George Steinbrenner's health is deteriorating, and he has been less openly crazy than in the past. (Full disclosure: I am a die-hard Red Sox fan, and one of the highlights of my life was watching Jason Varitek stuff his mitt in A-Rod's face.)

According to Fortune:

The topic of a sale "comes up all the time" in conversations with the other partners, says Yanks minority owner Edward Rosenthal, a retired steel executive. Adds another Yankees limited partner: "If I were handicapping it, I think we're looking at a sale of the team within three or four years."

The Yankees are estimated to be worth around $1.5 billion, but with hedge fund/private equity managers lining up to cash out their stakes with IPOs, it seems like it could go for even more -- perhaps a lot more.

Assuming The Boss's health is OK, that still raises the question: How much longer before he gets sick of losing?

Are the New York Yankees for sale? originally appeared on BloggingStocks on Sat, 04 Aug 2007 09:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>A-RodDealbookEdward RosenthalEdwardRosenthalGeorge SteinbrennerGeorgeSteinbrennerinthenewsJason VaritekJasonVaritekNew YorkNewYorkNY Yankeessports franchiseSteinbrennerThe BossTheBossYankeesYESSat, 04 Aug 2007 09:40:00 EST