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October 30, 2009

Newstex Interview

An interview I did with Newstex,  the excelllent content syndicator, can be found here.  If you’re not familiar with Newstex, they syndicate content to a variety of outlets including Reuters and Lexis-Nexis.  You can find out more about what they do here.

Posted by Mark

October 29, 2009

North American Sports Day

Sunday will be a groundbreaking day in the annals of North American sports  As far as I’ve been able to determine, Sunday will be the first day on which all four/five major professional sports leagues have played regular season or playoff games on the same day.  So far as I can tell, there have never been games that count in MLB, NBA, NFL, NHL and MLS all on the same day.  Thanks to Bud Selig, who seems to think that baseball has somehow become a winter sport, the World Series is being pushed further and further into the football season.  The NBA season kicked off this week and the NHL has been playing games for the last couple of weeks.  The MLS playoffs start this weekend, but you knew that.

Add in college football and the CFL for our friends up north, which has a game this Sunday and you have a full complement of sports. Oh, and just to be inclusive, there is a PGA tournament for those pros still trying to get their tour card and the WTA is holding its year-end championship in Doha, Qatar.

If you are a sports fan, outside the Olympics, you will never have more variety than this weekend

Posted by Mark

The McCourt divorce is going to be the gift that keeps on giving this season.  Already, 700 pages of documents have been dumped on Los Angeles Superior Court, and the fight is just beginning.  We’re talking about preliminary motions here; we haven’t even gotten to any of the really good stuff.


So far, Jamie has demanded to be reinstated as CEO of the Dodgers and to be restored to her $2 million per year salary.  She has also demanded spousal compensation of $487,634 per month, which would be reduced to $320,967 if she were reinstated as CEO.  What, $2 million a year isn’t enough for you?  Although if you read here, you can see why it might not be.


Frank today charged Jamie with having an affair with none other than the bodyguard and charging the Dodgers for their little romantic tryst in Israel and France.  Rather tawdry and common of Jamie to hook up with the bodyguard, don’t you think.  Surely she could have done better than that.

Posted by Mark

October 28, 2009

Coyotes Sold to the NHL

Phoneix, your long nightmare appears to be over.  Jerry Moyes has agreed to sell the Coyotes to the NHL.  While the deal must still be approved by the bankruptcy court judge, that would seem to be mostly formality at this point since the deal was struck under his guidance, or shall we say stern warnings and nasty stares and other signs of what exactly he wanted to have happen.  All of this was going on in and around a Monday bankruptcy court session called to get his honor’s guidance on how to make the NHL’s bid acceptable to the court.  After much lawyer work and billing, I think that was achieved and the NHL has committed to fund the interim losses while the deal makes its way through the court system.

The league is moving on to find a buyer for the club, with its priority being to keep the club in Phoenix, however misguided a notion that may be.  Bettman and the other owners may not have liked Jim Balsillie but he was right about one thing – this team needs to move to Canada, and Hamilton is the logical place.  If New York can support three teams, and Los Angeles can support two, there is no reason Greater Toronto can’t support two.

Posted by Mark

Marcus Jordan is an 18 year old college freshman basketball player at UCF, formerly referred to by its proper name: the University of Central Florida.  When Marcus was being recruited by the UCF coaches he was promised that he could wear a particular shoe when he played for the Knights.  What was so special about a shoe that it elicited a promise during recruiting wars – it was a Nike Air Jordan, and yes, Marcus is the son of that Jordan.

The only problem was the coaches making the promise had neglected to clear it with the athletic administration.  UCF has a school-wide contract with adidas and is in the middle of negotiating a six year, $3 million extension.  Adidas is in no mood to make an exception for a basketball player in a contract that requires every athlete in every sport to wear adidas product.  
Not only has the coaching staff stepped into it big time here by promising something they can’t deliver, but they may be jeopardizing the university’s adidas contract.  In addition, should the university attempt to stand firm against Marcus’ in his decision to wear only Air Jordan’s, it could find itself facing a lawsuit (funded by Nike?) asserting a student’s right to wear the clothes that he chooses.  After all, he is not the one receiving endorsement income from adidas for wearing its shoes; the coach is.  
Posted by Mark

There is a must read story in the New York Times today catching up with former Florida State defensive back Myron Rolle, who put the NFL on hold to accept a Rhodes Scholarship and a year at Oxford.  All too often we hear coaches, athletic directors and university presidents talk about student athletes and it’s a myth.  In this particular case, it’s no myth and his story should be an inspiring one to young kids everywhere to know that you really can combine academics and athletics at a high level for each.

Posted by Mark

The NFL is holding its annual regular season game at London’s Wembley Stadium Sunday. This year features the New England Patriots playing the Tampa Bay Bucs, who are owned by the Glazer family, owners of the English Premier League and European Champion League’s defending champion Manchester United.  Speaking at a conference while in town for the game, NFL Commissioner Roger Goodell made his annual announcement that the NFL would eventually put a franchise in London.

I don’t think there is any doubt that the league would eventually like to put a team in London, right after it puts a team in Los Angeles, Toronto, Monterrey Mexico, Vancouver and perhaps Mexico City.  All North American cities currently without franchises, some with ready-made stadiums, and all much more convenient than London.  The key word in Goodell’s speech was “ultimately.”  That is a timetable for the sometime in the next twenty to fifty years, which is about how long I think it may be before a franchise relocates to London.

On the flip side, Patriots owner Bob Kraft expressed once again his interest in owning a Premier League team. However, he wisely tempered his enthusiasm for the EPL saying that he had no interest in buying a club until the league adopts a salary cap. Since there has been some talk but no movement on that front in recent years, I think Mr. Kraft has a wait on his hands. Enjoy American football Bob – you’ve got a good thing going.

Posted by Mark

This is a non-political blog and while I have strong political views and am very active in politics, I have not used this blog to discuss those views or issues, save the joy I felt, and still feel, with the election of President Obama.  However, I am breaking that stance for a moment and if you don’t want to read anything political feel free to skip this although I really hope you don’t.  This post is really all about you and your economic well being.  

More specifically it’s about the rape, pillage and plunder of the American Middle Class.  Official unemployment is running at about 9.5%.  Total unemployment and underemployment is somewhere in the neighborhood of 12-14%.  Meanwhile, we have no idea where the $700 billion bailout money that was given to the banks in the first bailout went.  Elizabeth Warren, the Harvard law professor who chairs the Congressional Oversight Panel appointed to oversee the TARP program had this to say about the initial bailout:

We don’t know where the $700 billion dollars is because the system was initially designed to make sure that we didn’t know. When Secretary Paulson first put this money out into the banks, he didn’t ask for ‘what are you going to do with it.’ He didn’t put any restrictions on it. He didn’t put any tabs on where it was going to go. In other words, he didn’t ask…


I recommend that you read this guest post written by John Bougearel, Director of Futures and Equity Research at Structural Logic at the excellent blog Naked Capitalism for a much fuller exposition of this topic and a full-throated call to action. 
Posted by Mark

Los Angeles Dodgers fans better enjoy the memory of this year’s run to the NLCS.  It may be the last time the team gets there for a while if what has happened to other team’s whose owners went through bitter divorces are any indication.  Dodgers’ owners Frank and Jamie McCourt are estranged and in the process of a not very pleasant divorce.  Today, it was revealed that Frank has fired Jamie from her position as CEO of the Dodgers.  The exact timing of the termination is a bit unclear, but Jamie’s response is not.  Her lawyer’s comments to the L.A. Times when asked about the termination can be summed up in four words, words that Dodgers’ fans don’t really want to hear, “see you in court.”

If the McCourts wind up in a bitter, protracted divorce, litigating everything from their claims to houses to Jamie’s employment rights to their interests in the Dodgers, ownership Jamie is likely to want, it is inevitable that the organization will get caught up in the drama.  Direction will be lacking. The decision making structure will break down with no clear authority at the top, meaning major personnel decisions may go unmade and free agent signing will be unlikely.
If you want an example of what a divorce can do to a team look no further than the Dodgers National League neighbor to the south.  The Padres had built a contending team well suited to its new Petco Park.  Then owner John Moores and wife Becky decided to get divorced, and the club goes on the club is sold, in installments to a group headed by player agent John Moorad.  The deal involved Moorad’s group buying one-third immediately and the rest over five years, with John Moores staying on as Chairman and control person for MLB purposes.  Moorad became CEO, causing Sandy  Alderson, the Padres immensely capable CEO and former MLB COO, to resign.  It will take the Padres several years to recover from the turmoil of the divorce and that one was relatively short and while not amicable was at least conducted in a manner conducive to private resolution of issues, as it was done through mediation.  The McCourts don’t appear to be headed down that path, much to the detriment of the Dodgers and their fans.
Posted by Mark

Tiger Woods stands atop the sports world’s under forty year old business people, according to Fortune’s Forty Under Forty list, unless you consider Twitter, which is being used constantly to comic effect, by athletes everywhere, a member of the sports world.  Tiger ranked 6th on the list, the founders of Twitter checked in at five.  James Murdoch, Rupert’s son and heir to the Fox kingdom is 3, but being heir to News Corp has never been a comfortable position and whether James is in favor this week is hard to tell.  It does pay to be family, however, as James came in second on the list of highest paid (Tiger, Jay-Z excluded as they were not salaried) with a cool $10.1 million.

Other sports related names on the list include: Kevin Plank of Under Armour at 15, followed by Jay-Z of the New Jersey/Brooklyn/Moscow Nets at 16.  Casey Wasserman of Wasserman Media Group came in at 39.
I know Erin Burnett doesn’t have much to do with sports, but she is a business anchor, nobody from ESPN made the  list and she was the best I could come up with on short notice.
At the other end of the age scale, Fortune named 8 over 80, which included three with significant sports ties: T. Boone Pickens, of the Pickens, oops, Oklahoma State University Cowboys, O. Bruton Smith, of Speedway Motorsports, which owns 8 NASCAR tracks, and Sumner Redstone, the controlling shareholder of  CBS and Viacom.
Posted by Mark

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