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Sep 28, 2005 05:04 PM
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New York, 7:23 AM
Wed Feb 10
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We're not saying that baseball owners who claim they're losing money are full of horse manure or anything, but a report in The New York Post says that Major League Baseball will not be offering MLB.com up as an IPO because owners don't want to open up their financial records to the public.
Marlins blogger Fish Stripes is eager and just in calling bullshit.
Something doesn't add up here. Think about it. If you were crying poor (from your mansion) and I offered you $100,000,000 dollars if you'd only let me verify that you were poor, wouldn't you do it? Of course you would. But baseball isn't doing that here because they don't want to be called to the carpet about how the sources of their losses (in reality it's book losses like depreciation that cause a team to "lose money"). All of that would come out if this IPO would come to be.
So, what we've learned is that keeping their financial details private is worth (on average) more than $100,000,000 per team. That's amazing.
Baseball Owners Turned Down $3 Billion From Potential IPO [CNN/Money]
Marlins Turn Down $100 Million [Fish Stripes]
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