Archive for Business

Pete has been agitating about this for a while, but now it’s official: The New York Yankees and Bank of America ended months of negotiations on a long-term, high-profile sponsorship agreement, fallout from the financial industry’s decision to accept aid from the federal government. While the sides never discussed naming rights to the team’s new […]

Phillies’ owner Bill Giles: All right, Scott, how much do you need? Scott Eyre (doggedly): Two hundred and forty-two dollars! Giles (pleading): Aw, Scott, just enough to tide you over till the bank reopens. Eyre: I’ll take two hundred and forty-two dollars. Giles starts rapidly to count out the money. Eyre throws his passbook on […]

I’ve defended the Citi-Mets naming rights deal against the political attacks because those political attacks have tended to be misinformed and hypocritical. The Mets deal is a big fat obvious target, but the criticisms ignore the fact that there’s an underlying contract in place that can’t magically be undone. More generally, these attacks stink of […]

Is Jeff Francouer worth $12 million? Is anyone?

Darren Rovell has a piece about Ken Griffey’s new contract containing a clause that gives him a substantial bonus for an unspecfied attendance bump in Seattle this year. More interesting was the rundown of past clauses: In 1997, the St. Louis Cardinals drew 2.63 million fans. So when they signed Mark McGwire, they agreed to […]

This has only the vaguest of baseball connections — the oh-so-common Moneyball analogy — but I know a lot of lawyers read this blog, so I offer it up anyway: When asked whether his firm might reduce prices in light of the meltdown, Linklaters senior partner David Cheyne replied, “[Clients] might have doubts as to […]

Mets! Yankees! Madoff! Stanford! Johnny Damon, earning $13 million this season, cannot pay his bills. Xavier Nady, earning $6.55 million, cannot purchase an apartment in New York. The Stanford Financial Group scandal extends to Major League Baseball. The issues facing Damon and Nady — both New York Yankees outfielders and both clients of agent Scott […]

At least their ticket office does: The Cleveland Indians may have found their most valuable statistics this season are coming from the ticket office rather than the playing field. Using statistical analysis of ticket purchases to understand the preferences and price limits of their fans, the Indians learned that fireworks after a game draw an […]

A decade late and several hundred million dollars short, Wayne Huizenga has regrets: Outgoing Miami Dolphins majority owner H. Wayne Huizenga bid an emotional farewell to his favorite franchise Tuesday, but for the first time admitted he might have broke up the Marlins a year too soon after they won the 1997 World Series. “We […]

No, I won’t let this die. Here’s the latest piece — this time with numbers and smart people analyzing it and everything — explaining why the Citigroup-Mets deal is actually a good thing: Front Row Analytics, a consultancy that helps sports franchises value sponsorships, says television exposure in New York media market is a $15 […]