Latest Takeover Rumour. The Moores / Noell one

[b4sunryze]

And the most important question, who paid for these players? Did the club pay or did they pony up their own money? Do Baseball teams do yearly accounts, is it possible to "chase the money"?

The team paid for the players from their revenues, but in cases where the team/organization could not pay for it on their own, the owner would have to dip into his own personal savings to cover the costs. Moores did not like to do that unless he had to, because he expected accountability and smart spending. But in cases when the team ran a deficit, he stepped up and paid for it.

As I referenced in another prior post:

"As far as Moores' commitment as an owner, I know his preference is for the team to stand on its own two feet (be self-sustainable), however he's dipped into his own pocket when the team needed to as he did back in 2008 (forbes article): "The San Diego Padres are being squeezed by their debt service on Petco Park. The team financed $173 million of Petco Park's $285 million cost and owns 30% of the stadium. But non-baseball events have been slow to come to the ballpark, and last season's budget included a reported $14 million cash contribution from owner John Moores. The Padres will probably need more capital calls to increase their player payroll. For the past few years Moores has used his own money to build the franchise, investing in a baseball academy in the Dominican Republic, improvements to Petco Park and a bigger bonus pool for amateur talent."

 

[Toffeeslam]

The team paid for the players from their revenues, but in cases where the team/organization could not pay for it on their own, the owner would have to dip into his own personal savings to cover the costs. Moores did not like to do that unless he had to, because he expected accountability and smart spending. But in cases when the team ran a deficit, he stepped up and paid for it.

As I referenced in another prior post:

"As far as Moores' commitment as an owner, I know his preference is for the team to stand on its own two feet (be self-sustainable), however he's dipped into his own pocket when the team needed to as he did back in 2008 (forbes article): "The San Diego Padres are being squeezed by their debt service on Petco Park. The team financed $173 million of Petco Park's $285 million cost and owns 30% of the stadium. But non-baseball events have been slow to come to the ballpark, and last season's budget included a reported $14 million cash contribution from owner John Moores. The Padres will probably need more capital calls to increase their player payroll. For the past few years Moores has used his own money to build the franchise, investing in a baseball academy in the Dominican Republic, improvements to Petco Park and a bigger bonus pool for amateur talent."

does he have a habit of asset stripping ?

not that we have assets left other than the players

 

[Matty_j1878]

The team paid for the players from their revenues, but in cases where the team/organization could not pay for it on their own, the owner would have to dip into his own personal savings to cover the costs. Moores did not like to do that unless he had to, because he expected accountability and smart spending. But in cases when the team ran a deficit, he stepped up and paid for it.

As I referenced in another prior post:

"As far as Moores' commitment as an owner, I know his preference is for the team to stand on its own two feet (be self-sustainable), however he's dipped into his own pocket when the team needed to as he did back in 2008 (forbes article): "The San Diego Padres are being squeezed by their debt service on Petco Park. The team financed $173 million of Petco Park's $285 million cost and owns 30% of the stadium. But non-baseball events have been slow to come to the ballpark, and last season's budget included a reported $14 million cash contribution from owner John Moores. The Padres will probably need more capital calls to increase their player payroll. For the past few years Moores has used his own money to build the franchise, investing in a baseball academy in the Dominican Republic, improvements to Petco Park and a bigger bonus pool for amateur talent."

You might think i'm being rude by asking this but have you any idea of either/both of Moores and Noells Net Worth? Not saying that makes a difference but i'm very curious. The last estimate around 2008 for Moores just shy of USD$1 Billion (that i could find)

 

[Goat]

So they never actually "paid for" the new stadia, they took out a loan and when the club couldnt pay he stepped in.

Hmm thanks @b4sunryze for answering my questions, but still suspect they will loan us up to death and take the payments out of our kitty, which to be totally honest is what the current board would do and in fairness 95% of any other new owners.

Gonna stick with my first instinct regarding these chaps.

 

[b4sunryze]

You are very pro Moores & Noell mate. Knowledgeable about their small details too.

I'm not Pro Moores & Noell and they are not perfect and my experience with Moores as a Padre fan was bittersweet at best. They're not a rich sheik or oligarch.

However I can be confident in saying John Moores had a long-term plan, they "professionalized" a shoddily run organization that was a laughing stock of baseball, they got a new stadium built in a political environment where at the time San Diegans did not want to finance a new stadium, and best of all they hired really smart executives and management to run the organization (some of whom went on to become the best or savviest in the industry like Theo Epstein (think Arsene Wenger or SAF but w/o the coaching aspect just the player acquisition).

 

[b4sunryze]

So they never actually "paid for" the new stadia, they took out a loan and when the club couldnt pay he stepped in.

Hmm thanks @b4sunryze for answering my questions, but still suspect they will loan us up to death and take the payments out of our kitty, which to be totally honest is what the current board would do and in fairness 95% of any other new owners.

Gonna stick with my first instinct regarding these chaps.

I can respect your opinion, I just hope you change it if the facts prove otherwise.

Right now it's all speculation and opinions. I just happen to base my opinions on my experiences as a Padre fan and my research into sports management and economics of baseball.

 

[Goat]

I can respect your opinion, I just hope you change it if the facts prove otherwise.

Right now it's all speculation and opinions. I just happen to base my opinions on my experiences as a Padre fan and my research into sports management and economics of baseball.

Its a much different sport and era tho.

Also he was a much younger man, honestly, thats the thing keeps hitting me in the face, over and over again, his age, to me, suggests smash and group, fast buck, I just cant shake it.

 

[mmmmsnouts]

does he have a habit of asset stripping ?

Asset stripping isn't really possible in American sports. You can't transfer players to other teams for tens of millions of dollars. You can let players go in free agency when their contract is out and save the wages, but that's all.

There have been owners who simply wouldn't spend the money coming in, but I think that era is over. No one over here owns a sports franchise as their primary business anymore. I suspect a lot of the free-spending owners get some good tax benefits out of it as well.

 

[4737carlin]

does he have a habit of asset stripping ?

not that we have assets left other than the players

So in other words we do have assets, valuable assets, which is handy for them but not so good for us if they sell the one thing we want to keep hold of.

 

[Bob Elstone]

Everyone petrified of asset strippers - have you heard of Bill Kenwright and co?

 

[billybeeru]

My suggestion is for everyone to stop trying to analyze what the Padres have done in order to predict how these potential new owners would handle Everton. The dynamics of American sports and Major League Baseball are far too different from the dynamics of English football to compare them apples to apples.

 

[USABlue]

You might think i'm being rude by asking this but have you any idea of either/both of Moores and Noells Net Worth? Not saying that makes a difference but i'm very curious. The last estimate around 2008 for Moores just shy of USD$1 Billion (that i could find)

Thats all I could find as well but the thing for me is when this story first broke near Christmas it stated Moores and Noell were leading "a consortium with investors on both sides of the pond). If that is still true we really have no idea what level of available finances they/the group have

 

[kithnou]

Calm down everyone. Better times are ahead. Allow yourselves to accept change and the beauty it brings with it.

 

[USABlue]

Calm down everyone. Better times are ahead. Allow yourselves to accept change and the beauty it brings with it.

or at least wait to see what the business plans are ffs. all this speculation based on 2 names and twitter rumors. Heard more about the Padres on here than I have the last year in the US lol

 

[QLDBlue]

You are very pro Moores & Noell mate. Knowledgeable about their small details too.

Was thinking the same...
The skeptical Everton fan in me is thinking that the Moores & Noell PR department was in full swing (pre-purchase)

But in all seriousness, @b4sunryze is potentially addressing a lot of the doubts people had. In the end though, like all things Everton, we need to just strap in for the ride and see where it takes us...