New Bucks Owners Open To Local Investors Sources: Islanders Draw New Suitors Colts To Remain With Irsays Long Term Herb Kohl Sells Bucks For $550M Kohl Praised For Dedication To Milwaukee Arthur Blank, Atlanta Officially Awarded MLS Team Raptors Unveil New "We The North" Campaign NBA Kings Reaping Benefits Of New Owners Franchise Notes Bruins, Celtics Headed In Opposite Directions
Upcoming Conferences and Events
SBD/May 29, 2013/Franchises
Angels, City Of Anaheim To Open Negotiations Over Lease, Stadium Upgrades
Published May 29, 2013
MONEY FOR NOTHING: The L.A. TIMES' Shaikin wrote of the Angels and Dodgers' on-field struggles, "You can almost hear the heartland owners, laughing at the L.A. teams falling on their moneyed faces." Dodgers President & CEO Stan Kasten said, "I'm sure of that, because I used to say that." The Dodgers have MLB's largest payroll in history and are in last place, while the Angels spent $375M on RF Josh Hamilton and 1B Albert Pujols and have a losing record "even after winning their eighth consecutive game Sunday." Angels President John Carpino in an e-mail said that the franchise takes "a long-term view" and added that the club "continually modifies its seven- and 10-year business plans." But Shaikin wrote the team "appears to have bumped up against its spending limit." Meanwhile, the Dodgers "might operate above the luxury tax this year, and for a few years to come, but Kasten said that is not part of the long-term business plan." Kasten: "We understand that you can't win by just writing checks. For us, in our market, with this fan base, we felt it was something we needed to do for now. But it is not our long-term strategy. Our long-term strategy is one you might recognize from my history." Shaikin wrote if the Dodgers and Angels "do not sell out their four games this week, that is a referendum on what they got for their money, not whether they should spend it" (L.A. TIMES, 5/27).