On the way to work, I heard 610 Sports' Bob Fescoe talking about the latest rumor from KSHB Channel 41's buzz-cut sporting sports anchor Jack Harry: Ex-Wal-Mart baron David Glass wants to sell the Kansas City Royals before the 2012 All-Star Game.
Harry claims that's the rumor going around "financial circles" and says the thought "really gets me juiced up." Ew.
Harry claims the Glass family would like to get $350 million out of the franchise, which he bought for $97 million in 2000 (in April, Forbes valued the team at $341 million). However, the Star reported that the term's of the sale to Glass from Ewing Kauffman's estate do not allow Glass to profit from the sale of the team (any profit beyond the purchase price is supposed to be given to charities in the Kansas City area).
Harry goes on to say that a two-year window gives Glass time to dump "high priced talent" so the franchise is more attractive to buyers.So what do you say? Do you want Glass to sell the team? Are you worried that a new owner will move the team? Vote now. Oh, and I realize Harry has been wrong before.
And who's your fantasy owner. Is Mark Cuban, the billionaire owner of the Dallas Mavericks, who made a run at buying the Cubs and may be bidding on the Texas Rangers? I'll take Cuban. How about our own unpotty-trained legend George Brett? Tell us in the comments.
Home page image via the Pitch Flickr pool: Steve Thompson
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Fuck yes you dumbass, sell it and go back to Arkanshit.
Jeeze, why can't we get the usual owner with a HUGE oversized EGO and more money that Goldman Sachs with a short man's syndrome and erectile dysfunction that can ONLY be made whole if the Royals win a world series.
WTF.
Mr. K did a lot of great things for the Royals and Kansas City. Anticipating how the team could be owned and/or sold and exchanged after his death was not one of them.
Glass has used the team as a nice annuity payment. He makes 9 million a year (luxury tax etc) and will not get more that what he paid for the team ($97 million). Hence, he has never had the incentive to field a competitive team.
The Kauffman Foundation is a non-profit organization. I would think the terms of the arrangement would have to be public. I would check with the Secretary of State (or whoever handles annual filings) to get the annual report of the foundation. Also, look for other legal items filed in courts used by the foundation. When Glass bought the team, documents detailing the terms had to be filed somewhere and since it is a non-profit, would need to be accessible to the public.
Yes, because the Royals are just bursting at the seems with high-priced talent. It doesn't make sense to say Butler is untouchable then, since he hits arbitration for the first time this year.
Dear Anony...you don't mind if I call you Anony, yes?
What you take a priori has no basis in fact, or at least none that is documented - while David Glass may turn a profit, it is certain that between emptying Jacason County taxes payers' pockets toward the stadium's manintenance and the hand-shake millions the City kicks in every year, any "profit" that results from the Royals' domicile is probably, at best, a wash, and if not, so what? Is that money returned to Jackson COunty residents in any tangible way: repaired pot holes, new sidewalks,lowered utility rates or even pleasant demeanors from City workers who laugh at our phone calls for service? I think not.
"...if they left the KC sports market would be underserved."
Certainly up for debate, but let's posit you're correct.
So what? As far as I can tell the City is also underserved in traveling plays at Starlight that are less than 2 years old, yet no one has died. My guts tell me (learned this one from Shrub)that the average 16 thousand or so fans who attend home games will survive. Or at least whine as quietly as every other self regarding special interets in town, which, if you're unawares, has settled into a drone that even the summer's cicadas have no problem overriding in their heat.
"KC really is a baseball town..."
I admire faith and loyalty, especially in things that don't exist. I don't understand it, but I do admire it. You keep on truckin', Anony. Hold up that flag for just a few seconds more until the legions of your fellow true believers come to assist you...
"...the ownership of the royals is so incompetent that they haven't been able to turn out a winning team for a whole generation of fans."
You are nearly right: it has been just shy of TWO generations of fans who have subjected themselves to a rather unrewarding form of masochism, Thor knows why. There are more immediate, much more pleasurable and...satisfying...forms of pain and humiliation available locally - just talk to May @ May's Machete...
Nope - there is no good, objective reason for the Royals to stay put or for Jackson County and Kansas City residents to continue to subsidize them.
The Star oversimplifies the stipulation about the Glass family not being able to profit from a sale. It's my understanding that the Glasses would be able to pocket some if not all of the gain.
I've asked the Kauffman Foundation and the Royals for clarification. The former said the information was confidential, and the latter ignored me.
Why would that be better for KC, Nick? The team still turns a profit and if they left the KC sports market would be underserved (KC should at least have 2 teams, or 3). KC really is a baseball town, but the ownership of the royals is so incompetent that they haven't been able to turn out a winning team for a whole generation of fans.
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