Baseball is back! Of course, we are not going to drink beers at Cubbie Bear (thank you very much coronaviruses!) But we will have America’s favorite pastime on our TVs sooner 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 National League teams and how they earned enough money to own a Major League baseball team.
Owner / managing partner: Ken Kendrick
Purchase price: $ 238 million (2004)
Current assessment of the franchise: $ 1.29 billion
Ken Kendrick founded Datatel, Inc., which provides information processing products and software for higher education. He owns the Diamondbacks alongside Jeffery Royer and Michael Chipman. All three have owned at least part of the team since their first season in 1998. Kendrick is a baseball card collector with over 10,000 baseball cards. In fact, Kendrick paid $ 2.8 million for an Honus Wagner T206 card, which is the most expensive baseball card in history. Kendrick is 77 years old.
Owner: John C. Malone through Liberty Media Corporation
2007 purchase price: $ 450 million
Team 2020 assessment: $ 1.8 billion
In 1963 John Malone began his business career at Bell Telephone Laboratories at AT&T, working in economic planning and research and development. For 24 years, from 1973 to 1996, Malone was President and Chief Executive Officer of Télé-Communications Inc. (TCI). Malone is now President of Liberty Media, Liberty Global and Liberty Interactive. In 2011, Malone overtook Ted Turner as the largest private landowner in the United States, owning 2,100,000 acres of land, most of which is in Maine.
Owner: Thomas S. Ricketts
Purchase price 2009: $ 700 million
Team 2020 assessment: $ 3.2 billion
Ricketts is also CEO and President of the Chicago investment bank Incapital LLC and a director of TD Ameritrade Holding Corporation, founded by his father J. Joseph Ricketts. When the legendary baseball team was purchased in 2009, Tom Ricketts represented a consortium of family members who helped make a winning bid of $ 700 million.
Owner: Bob Castellini
2006 purchase price: $ 270 million
Team 2020 assessment: $ 1.075 billion
Bob Castellini is the CEO of the Cincinnati Reds of Major League Baseball. In addition to his baseball business, Castellini works as president of the fruit and vegetable wholesaler Castellini Co., founded by his grandfather in the 1890s. Bob Castellini is a former minority owner of the Texas Rangers and the Baltimore Orioles .
Owner: Richard L. Monfort
1993 Purchase price: $ 190 million MLB expansion fee
Team 2020 assessment: $ 1.275 billion
Richard Monfort is the 66-year-old son of Kenneth Monfort, who owned a meat packaging and food distribution business that he sold for $ 365.5 million to ConAgra Foods in 1987. Richard worked for his family as a cattle buyer for a decade before becoming president of the company from 1984 to 1987. After the family business was sold, Monfort became president of ConAgra Red Meats.
Los Angeles Dodgers
Owner / managing partner: Mark Walter
2012 purchase price: $ 2.15 billion
Team 2020 assessment: $ 3.4 billion
In 2012, a team of investors led by Guggenheim Partners, including Magic Johnson, bought the Los Angeles Dodgers from the much-hated fan base owner Frank McCourt. Water is the CEO of Guggenheim Partners, which has more than $ 290 billion in assets under management. Walter was part of the record 25.35 billion dollar 25-year television contract with Time Warner Cable (now Spectrum) in 2013. However, less than half of the southern California market had access to the channel since that DirecTV and other local providers broadcast it. In April 2020, SportsNetLA finally became available on DirecTV.
Owner: Bruce Sherman
Purchase price 2017: $ 1.2 billion
Team 2020 assessment: $ 980 million
Bruce Sherman co-founded Private Capital Management in 1985. The company sold for $ 1.4 billion in 2001 and Sherman remained at the helm of the new company. Sherman helped Derek Jeter buy the Marlins and instilled him as the CEO responsible for the day-to-day operations of the team.
Owner: Mark attanasio
2005 purchase price: $ 223 million
Team 2020 assessment:$ 1.2 billion
In 1991, Mark Attanasio co-founded Crescent Capital Group, a Los Angeles-based investment company that now controls $ 26 billion in assets. In September 2004, he reached an agreement, on behalf of an investment group, to buy the Brewers from the family of Major League Baseball (MLB) commissioner Bud Selig for $ 200 million. The agreement was approved by MLB at the winter owners meeting on January 13, 2005, and Attanasio became the owner of the Milwaukee Brewers.
New York Mets
Owner: Fred Wilpon
2002 purchase price: $ 391 million (2002)
Team 2020 assessment: $ 2.4 billion
Fred Wilpon founded real estate development company Sterling Equities with his brother-in-law Saul Katz in the 1970s. They bought properties at unbeatable prices and returned them for a profit. Wilpon was controversial for the investments he made with Bernie Madoff in 2008 when Madoff was convicted of running a Ponzi scheme. Wilpon has reportedly lost $ 700 million due to Madoff, which has sparked speculation that he may be forced to sell the team. Finally, Mr. Wilpon agreed to contribute $ 162 million to the Madoff Victims Trust. Thus, the Mets have experienced financial setbacks in recent years, not having enough money to recruit players from the league. Currently, the Mets are on sale with Alex Rodriguez and Jennifer Lopez among the main bidders.
Management partner: John Middleton
1981 Purchase price: $ 30 million
Team 2020 assessment: $ 2 billion
In 1856, John Middleton’s great-great-great-grandfather founded a small cigar production company which, more than 100 years later, launched the Black & Mild brand of cigarettes. The company became the third largest maker of cigars by the time they sold to a division of Philip Morris for nearly $ 3 billion in cash.
Owner: Bob nutting
1996 purchase price: $ 92 million
Team 2020 assessment: $ 1.26 billion
Bob Nutting is the President and CEO of Ogden Newspapers, which publishes over 40 newspapers and a number of media in small markets. The company was founded by his great grandfather in 1890. Nutting also operates three ski resorts not far from Pittsburgh.
Cardinals of St. Louis
Owner: William DeWitt Jr.
1995 Purchase price: $ 150 million
2020 team review: $ 2.2 billion
William DeWitt, Jr. is the founder of investment company Reynolds, DeWitt & Co., which is best known for owning 63 Arby franchises and the US Playing Card Company. He was previously a minority owner of the Orioles and Rangers. Her father was the former owner of the St. Louis Browns and the Cincinnati Reds, Bill DeWitt. The return on investment has been impressive for owner William DeWitt, Jr. – his ownership group bought the team for $ 150 million in 1995. In a quarter of a century, he has seen the value of his franchise grow more 1300%.
San diego padres
Owner: Ron Fowler
2012 purchase price: $ 800 million
Team 2020 assessment: $ 1.45 billion
Ron Fowler is the CEO of beer distributor Liquid Investments, Inc., which distributes Heineken, Miller and Coors and makes more than $ 224 million in annual sales. He was chairman of the Super Bowl XXXVII host committee.
San Francisco Giants
Owner: Charles Johnson
1993 Purchase price: $ 100 million
Team 2020 assessment: $ 3.1 billion
These days, Charles Johnson is best known as the Executive Chairman of the San Diego Padres Major League Baseball team property group. Born Charles Bartlett Johnson in 1933, he made most of his fortune as president of Franklin Resources, one of the largest American holding companies. In 1947, Charles’ father Rupert Sr. founded the Franklin Distributors mutual fund store. Already a graduate of Yale University at the time, Charles took over the company as CEO in 1957 at the age of 24. Twelve years later, with his half-brother, Rupert Junior, Charles developed the business under Franklin Resources. Charles Johnson retired in June 2013, after which his son George became president. Now he is co-owner of the American baseball team, the San Francisco Giants, but he leaves the functions of the team to Larry Baer, the leader of the ownership group. In 2019, her 58-year-old son Greg Johnson took control of the team.
Owner: Ted Lerner / Lerner family
2006 purchase price: $ 450 million
Team 2020 assessment: $ 1.9 billion
In the 1950s, Lerner, now 94, borrowed $ 250 from his wife Annette and founded the real estate empire Lerner Enterprises, which is the largest landowner in the Washington DC metropolitan area. The company owns 750 residential lots, another 7,000 apartments and more than 20 million square feet spread over a wide range of commercial and retail properties. Along with his family, Lerner also owns the Washington Capitals of the NHL, the Washington Mystics of the WNBA and the Washington Wizards of the NBA. The Nationals ‘victory in the 2019 World Series was the first in franchise history and the first for a baseball team in Washington DC since the Washington Senators’ victory in 1924.