MLB Network Radio: Arte about to sell?

[Inside Pitch]

12 hours ago, Lazorko Saves said:

Oh no, not the moronic "depreciation is a benefit to business owners" nonsense again.

Does the "Award-Winning Attorney" in his article explain what depreciating purchase price does to your capital gains tax when it comes time to sell the team?  Oh he didn't did he?  So he lied by omission to push a stupid myth about depreciating nontangible assets are some special carve-out that benefits sports team owners.

And he even implies that player salaries can be double deducted as operating expense and depreciable asset, with no offset.  This is an outright lie.  The player contract depreciation has an offset in the capital gains tax the owner will pay when he sells the team.  The capital asset gets written down to zero by year 15.  When the owner sells the team, the cost basis is reduced by that same amount.

Note to self: Do not hire Martin J. Greenberg to do any work for me.  Not even to mow my lawn.

I don't think it's an attempt to lie by any stretch -- Andrew Zimbalist author of Baseball and Billions and a dozen other sports/tax/economics books basically argued the entire point of it was to push the tax burden back until the sale. Team sales and turnovers seemed to be much higher at that time and maybe that influenced his view of it but when you consider McCourt paid 460 mil in cap gains on his initial 430 mil investment, I don't think most owners would care. 

[Taylor]

25 minutes ago, Lazorko Saves said:

What word are you trying to spell there?

https://www.merriam-webster.com/dictionary/dammit

[Stradling]

My bad. 

[Pancake Bear]

3 hours ago, Stradling said:

Asked my buddy about Arte selling, the exact quote, “don’t hold your breathe” 

It's inevitable at some point. He's getting up there and afaik nothing has changed with his family wanting to run the team. He's stopped showing up to team stuff, Ohtani has gone, and the budget seems to have dropped a solid bit. Since allegedly the reason he pulled the team off the market was he still wanted to take another shot at winning, he's not operating like a guy who is in much of a hurry to do that unless he's planning on sticking around for a partial rebuild, which seems unlikely at his age. 

[Duren, Duren]

2 minutes ago, Pancake Bear said:

It's inevitable at some point. He's getting up there and afaik nothing has changed with his family wanting to run the team. He's stopped showing up to team stuff, Ohtani has gone, and the budget seems to have dropped a solid bit. Since allegedly the reason he pulled the team off the market was he still wanted to take another shot at winning, he's not operating like a guy who is in much of a hurry to do that unless he's planning on sticking around for a partial rebuild, which seems unlikely at his age. 

Fans focus on his dealings with the team. Take age, health, family, and other private things we know nothing about into consideration.  And his past failures of being pro active. It's not surprising that he hasn't tried to move the needle with the Angels.

Some thought that the Ohtani loss (especially to the Dodgers) would create a reflex response. A big move to compensate and change the narrative. Obviously that hasn't happened. 

I expect a rather modest, low key season ahead with Arte not in the spotlight. Just Perry working  incrementally to put together a respectable season. And a partial rebuild. 

[Stradling]

1 hour ago, Pancake Bear said:

It's inevitable at some point. He's getting up there and afaik nothing has changed with his family wanting to run the team. He's stopped showing up to team stuff, Ohtani has gone, and the budget seems to have dropped a solid bit. Since allegedly the reason he pulled the team off the market was he still wanted to take another shot at winning, he's not operating like a guy who is in much of a hurry to do that unless he's planning on sticking around for a partial rebuild, which seems unlikely at his age. 

All that is true.  But my buddy would know if it’s imminent. 

[Vegas Halo Fan]

IMO it's impossible in this day and age to clandestinely sell a major league sports team. There are too many people who are too well connected for something not to leak if anything was going on. If nothing else, one of the bidders might mention an attempt to buy a particular club. It will obviously happen at some point, but imminent? I don't see any signs of it. Besides, league owners have to approve any sale.

[Erstad Grit]

33 minutes ago, Vegas Halo Fan said:

IMO it's impossible in this day and age to clandestinely sell a major league sports team. There are too many people who are too well connected for something not to leak if anything was going on. If nothing else, one of the bidders might mention an attempt to buy a particular club. It will obviously happen at some point, but imminent? I don't see any signs of it. Besides, league owners have to approve any sale.

The Orioles seemed to happen quickly and sudden. Maybe it was more public and I just didn't notice.

[Vegas Halo Fan]

5 minutes ago, Erstad Grit said:

The Orioles seemed to happen quickly and sudden. Maybe it was more public and I just didn't notice.

It was pretty widely known that the owners were shopping the club.

[Pancake Bear]

59 minutes ago, Stradling said:

All that is true.  But my buddy would know if it’s imminent. 

Sure, I'm mostly commenting on long term. But just out of curiosity, would your buddy have known if the deal happened like the Baltimore sale? The reason I ask is that the Angels went on the market and then off again without any reporters getting a whiff of it, so it seems like unless your guy is really well connected that it could be progressing without his knowledge. But that's just me speculating since I obviously have no experience buying or selling a franchise. 

[Stradling]

44 minutes ago, Pancake Bear said:

Sure, I'm mostly commenting on long term. But just out of curiosity, would your buddy have known if the deal happened like the Baltimore sale? The reason I ask is that the Angels went on the market and then off again without any reporters getting a whiff of it, so it seems like unless your guy is really well connected that it could be progressing without his knowledge. But that's just me speculating since I obviously have no experience buying or selling a franchise. 

My work friend’s, friend and neighbor is as connected as you can possibly be to the Angels organization.  

[mmc]

1 hour ago, Erstad Grit said:

The Orioles seemed to happen quickly and sudden. Maybe it was more public and I just didn't notice.

It was announced back in December that Rubenstein was in talks to purchase the team

[ThisismineScios]

2 hours ago, Stradling said:

My work friend’s, friend and neighbor is as connected as you can possibly be to the Angels organization.  

Did the idea that they will add players come from him? I just feel this has been such a strange offseason for the team, and for Moreno considering what he's stated. 

[Inside Pitch]

5 hours ago, Erstad Grit said:

The Orioles seemed to happen quickly and sudden. Maybe it was more public and I just didn't notice.

The Orioles were expected to be sold and it was talked about when Arte moved to sell and "un-sell" the Angels.

[ScruffytheJanitor]

Once this information was "leaked", my assumption is that the sale of the team would happen after the season -- maybe late summer if someone makes a strong bid. I figure a couple months to sort through bids and another month or two for the TV contract situation to clear up.  That puts us at July at the earliest. Add in some time for waffling, negotiating, and what other nonsense, and September seems like a reasonable timeline. 

[Taylor]

12 hours ago, Stradling said:

My work friend’s, friend and neighbor is as connected as you can possibly be to the Angels organization.  

Is it this guy?

[Lazorko Saves]

19 hours ago, Taylor said:

https://www.merriam-webster.com/dictionary/dammit

Merriam-Webster now contributing to the overall societal decline.

[Lazorko Saves]

1 hour ago, Taylor said:

Is it this guy?

That's Sam Elliott's less-talented brother.  He works down at the marina.  Keeps Arte's yacht topped up with marine diesel.  They let him in to the ballpark for free, but he doesn't have a place to sit.  So he stands there for the entire game, 81 times a year.

[Taylor]

Just now, Lazorko Saves said:

That's Sam Elliott's less-talented brother.  He works down at the marina.  Keeps Arte's yacht topped up with marine diesel.  They let him in to the ballpark for free, but he doesn't have a place to sit.  So he stands there for the entire game, 81 times a year.

Wrong. It's Lou (RIP)'s sister's neighbor, Wyatt Earp (Tombstone). He's an importer/exporter in the textile industry. TORS has been to his house a couple times for parties.

[RallyMo]

On 2/5/2024 at 1:04 AM, jsnpritchett said:

Possible, but doubtful. David Rubinstein of the Carlyle Group is a lifelong Orioles fan (and a Duke grad! Woo-hoo!).

Duke, Duke, Duke.

How I loathe this classic ACC rival of ours.

[Ace-Of-Diamonds]

Right!! Fool me once shame on you, fool me twice shame on me...

[Ace-Of-Diamonds]

On 2/4/2024 at 10:41 AM, AngelsLakersFan said:

The Angels will never win with Arte.

bring back Disney.

kidding

sort of

[Inside Pitch]

Give up the dream, boys.... You're just gonna get "Buttercupped" ... something something, unfinished business.

[jeskola]

If Mark Cuban buys the Angels, what are the chances Luka Doncic attempts a Michael Jordan?