For the third consecutive year, the D'Backs are "facing
a severe cash shortage," according to Pedro Gomez of the
ARIZONA REPUBLIC. MLB sources say that the team recently
borrowed $20M from an "unidentified bank" to meet its
operating expenses, and the cash-flow problems were "so
acute that the lender ... demanded that MLB co-sign the
sizable loan." Gomez notes the team "made substantial cash
calls in each of their first two seasons," acquiring a total
of $29M from the 29 limited partners during the expansion
season in '98 and then landing another $24M late last
season. The team "went outside for cash this time, fearing
another cash call would have been met with resistance." One
"highly placed" source: "You can only have so many cash
calls." Gomez writes "within MLB's New York offices, the
Diamondbacks are mockingly referred to as the Arizona Cash
Calls." Also, the team's need for a "sizable infusion of
cash for the third straight year" has several MLB execs
"concerned with what they believe to be exorbitant spending
habits" by the team. A payroll that has "skyrocketed" from
$32M in '98 to $66M last season and is "hovering" around
$80M this season, coupled with a "decline in attendance, are
primarily to blame for the need for cash." One baseball
source: "They've spent more than they're taking in.
Everyone wants to win, but you have to be realistic. If you
have $800 in your checking account, you can't go out and
spend $10,000" (ARIZONA REPUBLIC, 8/15).