There was a Wall Street Journal article published about a week ago siting 6 or 7 franchises being sold. The Anaheim Angels, The LA Dodgers, The Atlanta Braves, as well as the Atlanta Thrashers, Milwaukee Bucks, and many others that were in Bankruptcy like the Ottawa Senators and the Buffalo Sabres. It seems to me that the recession and problems with management have been a problem with these teams. It seems that sport franchises aren't as profitable as they once were. I wonder if this will affect the ability of MLS to get investors being that the market is so weak or if these investors once they sell will see a new possibility in MLS and its Single Entinty Management. Any thoughts?
The Atlanta franchises are ina slightly different category, I believe. These teams were all owned by Ted Turner, then Turner Enterprises. Turner then merged w/ Time Warner which subsequently merged w/ AOL. These teams were Ted's plaything. Now, they are part of one of the worst mergers ever and on the books of a company that has lost more money than they can shake a stick at. Additionally, they are not considered "core businesses" of the overall organization. These are some of the reasons these teams are for sale. I just wish Uncle Teddy hadn't lost 7 Billion so he could buy back the teams.
I think it's partly the recession...alot of money was committed based on the assumption that the good times would keep on rolling. But I also think that beyond the recession, there were hopes placed on new entertainment technologies that didn't pan out.
i think maybe it has a little bit to do with both the recession and just people losing money. prior to 9-11 some teams Montreal and Tampa Bay (baseball) were possiblly folding after the 2001 season. but now as you see even more teams are going down the drain its a mixed thing but now its leaning over to 9-11 worries being the problem
I can see why it wouldn't be profitable anymore Of course Pro sports aren't as profitable as they once were, LOOK AT THE SALARIES THESE CATS MAKE!! I KNOW we don't need to get into the topic of overpaid/underpaid crap...but it is quite absurd. I work in sports and I can tell you, I am of more worth to my franchise then some of these clowns that sit on the bench making a million dollars to cry about playing time. I think MLB needs a salary cap, bad. I think the NBA needs a stricter one. NFL is actually doing great things in my book. The NHL is doing alright as well, although, needs to tighten things up so the stupid Communists up in Michigan quit winning everything. It's getting so boring watching them. We keep increasing salaries and pretty soon, it's going to cost YOU, the consumer, about $100 per game to sit in the LAST ROW!! Of course, this doesn't mean soccer players, well, at least American players, or even MORE specifically, MLS players. They can't possibly get paid what they're worth because the league doesn't make enough money. But as to the topic of why these owners aren't making money, it's because the Player's Associations' are greedy as hell. Enough is enough.
Re: I can see why it wouldn't be profitable anymore I think an exception being the NFL (hopefully Mr. Cam won't come trolling around), but I believe the money each team receives from the national TV contracts pays for the salary cap itself. With Red McCombs, I've heard he's tired of trying to get a new stadium and might bail out, but the value of the Vikings is worth twice more than he bought it for.