Baseball is back! Of course, we are not going to swallow the Dodger dogs and have a beer at Chavez Ravine (thank you very much Coronaviruses!), But we will have America’s favorite pastime on our TVs sooner rather than later. There are plans to have a 60-game mini-season starting in late July, at least for now. With Covid-19 raging out of control from coast to coast, things can change quickly. Behind the scenes, owners of Major League Baseball teams have been trying to find ways to make their sport viable during a global pandemic. Cable sports channels broadcast classic games. Basically, the public wants baseball. Fortunately, we don’t have to wait too late. Let’s take a look at the owners of the American League teams and how they earned enough money to own a Major League Baseball team.
Owner: Peter angelos
1993 Purchase price: $ 173 million
Team 2020 assessment: $ 1.4 billion
Peter Angelos is a legendary lawyer from Maryland. He has made billions in judgments against the tobacco industry and for customers in asbestos lawsuits. As successful as his legal career is, Angelos is considered a controlling and impatient owner, the wrong way. The turnover of its executives is about the worst in the league. In fact, in 2009 Angelos received the title of “worst baseball owner” from Sports Illustrated.
Boston Red Sox
Owner: John Henry
2002 purchase price: $ 380 million
Team 2020 assessment: $ 3.3 billion
John Henry began his career in agricultural futures trading and opened his own company, John W. Henry and Company, in 1981. He began to market his management to the largest commodity brokerage companies in America. In 1989 Henry moved to Westport, Connecticut. Henry, a former owner of the Florida Marlins, bought the Boston Red Sox in 2002 for the express purpose of “breaking the curse of the Bambino”. In October 2010, Henry’s Fenway Sports Group took over Liverpool FC. Henry owns the Boston Globe.
Chicago White Sox
Owner: Jerry Reinsdorf
1981 Purchase price: $ 20 million
Team 2020 assessment: $ 1.65 billion
Jerry Reinsdorf made his money in real estate partnership tax shelters. In 1982, he sold his company to American Express for $ 102 million. He is probably most famous for being the owner of the Chicago White Sox and the Chicago Bulls. He has headed both teams for over 35 years and has had both great success and controversy over his management of key team members, such as Michael Jordan and Phil Jackson. Reinsdorf is one of the anti-union owners of MLB.
Owner: Lawrence Dolan and Paul Dolan
2000 Purchase price: $ 323 million
Team 2020 assessment: $ 1.15 billion
Charles Dolan is the patriarch of the family. He founded Cablevision in 1973 and sold it for $ 17.7 billion in 2016. Larry Dolan is his brother and Paul Dolan is his nephew. In the 20 years of the Dolan family’s detention by the Indians, there have been only four principals and three directors general.
Owner: Marian Ilitch
1992 Purchase price: $ 82 million
Team 2020 assessment: $ 1.25 billion
Mike and Marian Ilitch founded Little Caesar’s Pizza in 1959. Mike died in 2017, but his wife still owns the pizza chain that earns more than $ 4 billion in annual sales. The Ilitch family also owns the NHL Detroit Red Wings. Today, Christopher Ilitch leads the Tigers and the Red Wings.
Owner: Jim Crane
Purchase price 2011: $ 680 million
Team 2020 assessment: $ 1.8 billion
In 1984 Jim Crane borrowed $ 10,000 from his sister to found Eagle USA Airfreight, which eventually became Eagle Global Logistics. Eagle Global went public in 1995 and, at its peak, had hundreds of millions of annual revenues and more than 100,000 employees. In addition to owning CCG, he is also a shareholder of Western Gas Holdings and Crane Worldwide Logistics, LLC, and he is also a director of Fort Dearborn Life Insurance Company and Champion Energy Holdings, LLC. He is also the first CEO golf player in the country and owns the Floridian National Golf Club. The Astros won the 2017 World Series. It was later revealed that the team had cheated.
Kansas City Royals
Owner: John Sherman
Purchase price 2019: $ 1 billion
Team 2020 assessment: $ 1.025 billion
John Sherman is the founder of Inergy, which merged with Crestwood Holdings in 2013 to create one of the largest energy companies in North America. Sherman was a minority owner of the Cleveland Indians for three years before buying the Royals. He bought the team from David Glass, who had owned it since 2000.
Los Angeles Angels
Owner: Arturo Moreno
2003 purchase price: $ 183.5 million
Team 2020 assessment: $ 1.9 billion
Arturo Moreno is the first American-Mexican owner of an American professional sports team. A Vietnam veteran, he started his career in outdoor advertising when he was hired by Eller Outdoor in the early 1980s. In 1984, he moved to Arizona where he went to work for a company called Outdoor Systems. In 1996, at that time, he headed the company and was a major shareholder, Arte listed the company on the stock exchange. The IPO was extremely successful. In 1998, Infinity Broadcasting acquired Outdoor Systems for $ 8 billion in shares. He took over the Anaheim Angels from the Walt Disney Company in 2003. He then renamed the team as Los Angeles Angels.
Owner: Jim Pohlad
1984 Purchase price: $ 44 million
Team 2020 assessment: $ 1.3 billion
Jim Pohlad’s father Carl bought the Twins. Jim succeeded his father’s death in 2009. He and his brothers, Bill and Bob, manage a group of more than 30 companies based in Minneapolis from which they inherited from their father. Carl Pohlad was a self-taught billionaire who founded a banking and financial services business in the 1950s. Jim graduated from USC with a degree in accounting and is a CPA by trade. He is the face of the franchise and is accessible to fans and the media.
New York Yankees
Owner / managing partner: Hal steinbrenner
1973 Purchase price: $ 10 million
Team 2020 assessment: $ 5 billion
Hal Steinbrenner inherited the team from his father, George Steinbrenner when he died in 2010. George was most famous for having owned the New York Yankees for 37 years. His tenure as owner of the Yankees is the longest in the team’s history. Steinbrenner, along with several partners, bought the New York Yankees from CBS Broadcasting in 1973 for just $ 10 million. Steinbrenner contributed only $ 170,000 on the purchase price of $ 10 million. Over time, he acquired about 60% of the team. Today, the Yankees are worth $ 3 billion to $ 4 billion. The team has won 11 pennants and 7 world championships under its ownership.
Owner: John fisher
2005 purchase price: $ 180 million
Team 2020 assessment: $ 1.1 billion
John Fisher is the son of the founders of Gap, Doris and Donald Fisher. John used his inheritance to buy the Oakland A. Fisher has a BA from Princeton and an MBA from Stanford. He also owns two soccer teams, the MLS San Jose Earthquakes and Scotland’s Celtic FC. He is responsible for making a deal for a new stadium to keep the A’s in Oakland, but get them out of their decrepit house at the Oakland Coliseum.
Owner: John Stanton
2016 purchase price: $ 1.2 billion
Team 2020 assessment: $ 1.6 billion
In the 1980s, John Stanton ran a number of wireless companies. Today he is president of the private equity firm. Trilogy’s international partners. In 2016, it was reported that John W. Stanton held $ 45 million in shares in companies such as Columbia Sportswear and General Communication Inc. In 2014, he joined the board of Microsoft. Stanton was a minority owner of the Seattle Mariners before being appointed new CEO in 2016 and officially bought the team later that year.
Tampa Bay Rays
Owner: Stuart Sternberg
2004 purchase price: $ 200 million
Team 2020 assessment: $ 1.05 billion
In 1978, Stuart Sternberg began his professional career in part-time stock option trading on the American Stock Exchange while studying at the University of St. John’s, where he earned a degree in finance. After college, Sternberg was hired by the investment group Spear, Leeds & Kellogg, eventually becoming a partner in the company before moving to Goldman Sachs, retiring from this company as a partner in 2002. Sternberg purchased a 48% controlling interest in the Devil Rays (now known as the Tampa Bay Rays) in May 2004 and assumed the role of Associate Managing Director in October 2005. He organized his controlling interest offer in the team with partner Goldman Sachs, Matthew Silverman, whom he hired as team chair. .
Owners / co-chairs: Ray C. Davis, Bob R. Simpson
2010 purchase price: $ 593 million
Team 2020 assessment: $ 1.75 billion
Ray Davis co-founded Energy Transfer, the pipeline and natural gas company in 1995. In 2017, the company completed work on the controversial Dakota Access Pipeline. In 2010, Davis partnered with XTO Energy founder Bob Simpson to buy the Texas Rangers for $ 593 million. Simpson sold XTO Energy to ExxonMobil for $ 41 billion in 2010.
Toronto Blue Jays
Owner: Edward S. Rogers III
2000 Purchase price: $ 165 million
Team 2020 assessment: $ 1.625 billion
Edward Rogers III is President of Rogers Communications and Rogers Bank and Director of Maple Leaf Sports & Entertainment. Rogers was instrumental in launching the Blackberry via Rogers wireless.