F everyone else as long as you get yours-regardless of honor, laws or morals, huh? Lets someone else do it for you.. You have to give credit to the Rays coaching staff for getting the most out of the ever changing players.. Well said, and STU-pid thinks he can threaten Tampa tax payers with moving the team. The remaining 5 percent of the team is owned by the family of the late Wayne Huizenga, the former Dolphins owner who sold the other 95 percent of the team to Ross. Dates for arbitration and a trial have not been set. Heres a guy who quietly gave everything he had to the org for a decade and came away saying they had no idea what they were doing. Quick solution: I give you the Tampa Bay As, and the Oakland Rays! Championships: 3 (2004 over the Calgary Flames, 2020 over the Dallas Stars and 2021 over the Montreal Canadiens). Howd you do it? To them, their team is a business first. Current value: $1.46 billion (Source: statista.com). Joel-I honestly believe Sternberg doesnt care about the Rays as a sports franchise. The poverty team is currently first place in their division. Sounds like the remaining minority owners do not agree with what Sternberg wants to do & now that his ownership stake is at 85% they are seeing the writing on the wall on their remaining 15% share. The two Major League Baseball teams the Marlins and Rays are owned by consortiums consisting of multiple owners, with majority stakeholders not even claiming 50 percent ownership. That organization was stripped of its ownership and moved because of it. The suit alleges Sternberg has increased his personal share in the franchise from 49% in 2004 to 85% by 2020. Sternberg had sought to have the case settled through arbitration, rather than a jury trial. The lawsuit outlines a series of acquisitions of limited partner interests from 2007 to 2018 giving an additional ownership stake to Sternberg. This guy jumped in when baseball was booming and he as well as other owners are milking the system. Lol people love shoehorning their hate of the radical left into any conversation. They seem to walk in the same circles. Not exactly apples-apples. Earnings before interest, taxes, depreciation and amortization. This is one of the most misinformed takes Ive ever seen. We are finally seeing progress on the As but it took a long time. My fear is youll get that park, but Sternberg wont change how he operates. Since he bought the Rays, he hasnt done much to help the team, the cities, or MLB. Just move them to Charlotte/Raleigh and change the name so we can be done with it. 11. This February, the partners sued companies held by Sternberg and others, alleging they withheld documents key to their review of the teams finances. But the latest one puts that company front and center. Exactly. The Rays, in a statement last year, called the lawsuit deceptive and fraught with error and falsehood.. I say no more baseball for Canada. 63 years with one family of owners. Stuie has hired Rudy Guilianni to represent him. About the sale: Viner became the controlling general partner in 2009 and he and his investors sold the Panthers to Viola in late 2013 after a dismal 2012-13 season. The action alleges that Sternberg has worked to squeeze out minority owners and increase his personal ownership stake in the franchise. The sport is killing itself with all the new BS rules, crappy hitting and players falling apart left and right. The contrast between Sternberg and the competence of the Rays front office and coaching staff is pretty striking. Stop trying to make it out to be one. But hes been holstered by his own petard, or however that expression goes. He will sell off before it happens thsts what guys like this do. 12. It was right there in front of your eyes the whole time! Owners: An investment group headed by principal owner Bruce Sherman and CEO Derek Jeter. Have the Rays traded Wander Franco yet? tbh if the rays actually moved a few miles east into tampa and they cut a deal with st. pete to allow the move im sure more than 5k in fans would show up. You hit the nail on the head in terms of our Pharma industry and how our overpayments have built an industry the world needs. This group helped bring the Magic to Orlando. And if they dont build one,Nashville will. Some other public money that went to MLB baseball teams, but not the Rays, was Hillsborugh County fully funding the construction of Steinbrenner Field in 1996 and then adding another nearly $50 million in renovations over the past 15 years. The Texas Rangers Major League Baseball (MLB) franchise was established in 1961 as the second incarnation of the Washington Senators, an expansion team awarded to Washington, D.C., after the old Washington Senators team of the American League moved to Minnesota and became the Twins.The new Senators remained in Washington through 1971 playing at Griffith Stadium in their first season and at RFK . By 2020, he had increased his stake to 85 percent by buying other general partnership stakes, including those held by the family of former owner Vince Naimoli, making him both managing partner and sole general partner. He cares about making m0ney and when the time comes, he will sell and happily walk away with even more riches in his pockets. Canada is making a name for itself arresting pastors in the middle of the street. Not baseball. Wait, you mean the guy who is trying to act like a poor baseball owner to con his city to building him a free baseball stadium is only looking out for his own interests? Local revenues divided by metro population with populations in two-team markets divided in half. Additionally, with how much hate Manfred gets, do you really want him to be the one making these types of decisions? A group of the Tampa Bay Rays' minority partners filed suit against principal owner Stuart Sternberg this week, alleging he improperly enriched himself by secretly transferring. I havent been to a game in 25 years. Unsurprisingly, the City of St. Petersburg stated a few months later they would not grant the organization permission to embark on that concept. For Sternberg's part, his ownership share has risen to 85 percent in 2020, from 49 percent back in 2004, the plaintiffs said. NOTE: This story has been updated since its original publication to include a statement from the Tampa Bay Rays. Weaver was the founding owner of the Jaguars. Then he threaten the TB Area with playing games in Montreal. 6 more years & the team can do whatever it wants. Wait, you mean the guy is only looking out for his own interests? The Rays bought the Tampa Bay Rowdies of the ASL and their stadium. Problem solved! About the sale: Sternberg purchased 48 percent of the team for roughly $65 million in 2004. Prior owner: Jeffrey Loria, who purchased the team in 2002 for $158.5 million. It claims that Sternberg, without communicating. Insultingly, based on information and belief, these secret negotiations have been going on since the spring of 2014.. STU-pid is one of the worse most greedy owners in mlb. It sounds like Sternberg has been trying to make a backroom deal with Bronfman and the other owners know theyll be iced out of the deal. Dont you know that, averagejoe? How is cheating, lying and backstabbing seen as so abhorrent when poor and average people do it, but at the same time excused and even lauded when done by the rich? Neander et al operate under no financial consequences of their actions; keep Snell, you draw flies; trade Snell, you draw flies. If you are married and are having an affair doesnt someone usually get upset if they are made to wait that long Chargers general manager Tom Telesco stressed once again at the NFL Combine that removing the veteran Allen from the roster isnt an option as L.A. tries to squeeze under the salary cap. Tampa Bay Rays, fans respond to lawsuit filed against principal team owner Despite a red-hot May, a cloud hangs over the franchise in the form of a lawsuit recently filed against principal. Thanks for fixing my comment, Mr. Sternberg. By posting a comment, I have read, understand and agree to the Posting Guidelines. Baseball wont die if people enjoy again. I thought we had all moved past dragging every single discussion into the COVID pit. Green Bay Packers president Mark Murphy said, "We try to keep our tickets as affordable as possible.". shame on them for prioritizing public health. The states franchise deemed to be the most valuable using information from statista.com is the Miami Dolphins, at $2.9 billion. Florida lawmakers take up plan to shield businesses from lawsuits, Florida migrant flights lawsuit dismissed in wake of Legislature passing law, Records lawsuit filed against Christopher Rufo, New College, US court strikes down Gulf of Mexico charter boat tracking rule, Florida official unsure if Vertol will still handle migrant relocation program, 10 big issues to watch in Floridas 2023 legislative session, Its time for tort reform in Florida | Column. 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Current value: $295 million (Source: statista.com). Contrary to what people seem to think, the owners also want to make as much money as they can, just like the players. Take a look at the investments each of the Vinik and Glazier families have made not only to the sports franchises but the Tampa Bay community not like an owner that just takes .., marlins should be a lesson to all. Hopefully they can get a new stadium in Tampa. If there are requirements that the majority owner works for the benefit of all the partners, that changes everything. If not Tampa, then another city. This guy is a piece of garbage. Senior Director, Partner and VIP Relations. For the allegations that will go to arbitration, the minority owners are seeking a financial audit and damages in excess of $30,000. There is technically another way, called a guaranteed payment, but that would have to be in the partnership documents. The Athletic was first to report on the lawsuit. Darkside makes terrible takes from time to time this one is one of many. The Tampa Bay Rays have agreed to a three-year, $40-million contract with right-hander Zach Eflin, the largest contract ever given to a free agent by the franchise. Wealthy people suing other wealthy people for the privilege of lobbying municipal leaders into funding their stadiums. About the sale: The Lightning were the worst-performing team in the NHL between 2007 and 2010, with a combined record of 89-118-39. He purchased an additional 45 percent of the team from Huizenga about a year later for another $550 million, making his total purchase price $1.1 billion. This is one of the most misinformed takes Ive ever seen. We have abided by thepartnership agreement and the Tropicana Field use agreement.. Im not talking about another postseason appearance, but by a better and more accessible park, and along with that the hope your best players dont automatically get traded. Sternberg, as managing partner of the organization, has a fiduciary duty to prioritize the interests of the partnership over his own. Your email address will not be published. It's believed to be the first change in general manager . Hell simply pocket the additional cash. Current value: $980 million (Source: statista.com). Here are our top picks for 2023. You mean the Las Vegas As and The Montreal Rays. About the owner: Viola is the former chairman of the New York Mercantile Exchange (NYMEX), and the founder and chairman of Virtu Financial. Three of them, Bryan, Joel, and Edward, took over the day-to-day operations of the team. Translation through the BS: The team is getting ready to be sold and the minority owners feel they are not going to get their fair share from it. (https://web.archive.org/web/20120824051451/http://law.marquette.edu/images/sports/nhl22.pdf). Its always take pity the poor owner. A group of minority Tampa Bay Rays owners can proceed with part of a lawsuit seeking to expel Stuart Sternberg as a general partner in the team, a judge ruled Wednesday. Please login to leave a reply. Your California Privacy Rights / Privacy Policy. Owners: An investment group headed by principal owner Bruce Sherman and CEO Derek Jeter. https://www.hollywoodreporter.com/news/general-news/charlotte-rae-dead-facts-life-896111/. ================================================================== By Mike Ozanian Forbes Staff . I dont know much about baseball ownership but business ownership majority makes the final decisions within regulatory reason of course. Rob doesnt have that level of authority. goodness, its teams like TB, PIT, and OAK that are really holding back the growth of the game. The Rays cry poverty, but Sternberg has said he has no intention of selling his money-losing ownership, exposing the lie. The state of Florida is fortunate to have nine pro sports teams among the Big 4 sports. Thats your opinion. The minority shareholders allege hes instead used his authority to decline to acquire potentially advantageous interests for the partnership as a whole, only to then personally acquire those interests and increase his own stake in the partnership. What is neglected in that rant is the financial props in the US helped develeop and introduce the vaccine quickly in the 1st place, then the US RIGHTLY made 1st it was used in the US 1st and that is where most of the early product went. The lawsuit alleges, among other claims, that Sternberg and the Rays Baseball Club entity failed to disclose a $376 million payment from regional broadcast partner Fox Sports Sun, which was received after the ownership of the club and franchise had been transferred out of the partnership and into RBC.. Hes not even the worst owner in the province of Ontario. at Unsurprisingly,. the limited partners have had to pay taxes on their ownership shares, and the complaint said . Jun 29, 2022 A group of Tampa Bay Rays minority owners has filed a third lawsuit against lead owner Stu Sternberg, alleging that their ownership "has been reduced to a mere shell,. There would be no other way in a situation like this for a general partner to be removed, she said. Let alone he was warned and did it anyway. ESPN is a cable TV channel that's included in many cable TV packages. Im so glad years ago gave up my mlb season tickets for the lightning. He wasnt even here 4 years and was one of the faces of the franchised. He is already under a magnifying glass for how he handles the rays now finding out hes screwing his partners with investments they should have had first dibs on. The Rays, for their part, have issued a statement on the matter: We are disappointed that a handful of our limited partners have filed suit. It isnt quality baseball. He received an engineering degree while working at automotive manufacturing company Flex-N-Gate Corporation. You see the results of his efforts everywhere, including here. The minority owners who filed the suit are Robert Kleinert, Gary Markel, Stephen M. Waters and a trust bearing his name, and the MacDougald Family Limited Partnership, LLLP. second when i got across the bay to st. pete where the trop is in a industrial district, nothing around the trop is attracting to fans unless you like hanging out around factories and warehouses. The Nashville market likes this news. Baseball has become a very boring version of itself. Franco is coming but so is his trade. The Athletic doesnt even have a reporter covering the team because the fan clicks are non-existent. The Rays majority owner is being insincere and trying to accumulate the best bang for his buck in the shortest of terms? These actions have stripped plaintiffs of the value of their long-held investments in the franchise and team, the lawsuit says. Sorry, Eugene is not the worst owner in sports. Are we really going to halt the growth of baseball around the world because of a once in a lifetime pandemic? MWeller, Im not sure what you mean by that. But hes killing the sport. The latest filing marked the third time this year that the minority owners have sued Sternberg during an escalating legal battle over control of the Rays. For the second time in a year, a group of minority Tampa Bay Rays owners have sued companies held by principal owner Stuart Sternberg, alleging they withheld documents key to a review of the team's finances. this is a bb site not the x-files if i wanted to hear about arguments about inoculations/politics then i would join a reddit site about said issues. Well, congratulations, Suffer, youre my first mute! The statement said: We are disappointed that a handful of our limited partners have filed suit. Where is Robert Irsay when you need him. ), its a much fairer playing field. Add your idea below. With all due respect to the Mayor of St Pete the city is losing leverage every year that goes forward & Sternberg is uninterested in staying in St Pete long term since they do not get many walk up fans & a good % of their season ticket holders live outside of St Pete (like myself). Owners net worth: While the net worth of Richard DeVos children is not listed, the elder DeVos was worth $5.4 billion when he died. The latter wasa successful tax attorney who had tried to purchase the Los Angeles Rams and had advised NFL owners on financial matters. That like me going to buy a share of amazon and telling Jeff Bezos that his entire business model and we need to be more like wish. 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