Tag Archive | "Thomas Boswell"

NEW YORK, UNITED STATES:  Baltimore Orioles' owner Peter Angelos (2nd L) talks at a press conference with Chicago Cubs' CEO Andy MacPhail (L), Major League Baseball President Bob Dupuy (2nd R) and MLB chief negotiator Rob Manfred (R) 16 August 2002 at baseball headquarters in New York. The baseball players association set 30 August 2002 as a strike date if an agreement is not reached with the current contract.  AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)

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Being Thrift with mounting debt and wringing the Belle with an insurance policy

Posted on 16 August 2017 by Nestor Aparicio

(Author note: This is Chapter 12 of my book “The Peter Principles,” which I was working to finish in March 2014 when my wife was diagnosed with leukemia the first time. I will be releasing the entire book for free online this summer – chapter by chapter. These are the true chronicles of the history of Peter G. Angelos and his ownership of the Baltimore Orioles. If you enjoy the journey, please share the links with a friend.)

 

12. Being Thrift with mounting debt and wringing the Belle with an insurance policy

 

I’ve been very productive in my life in baseball. I’m not going to be taken as some amateur or semi-pro trying to build a resume to get a job somewhere else, like a lot of my colleagues have done over the course of time. We really have had a plan of where we’re going, how we’re going to get there, what we’re going to do. And so far we’re very pleased with the progress that we’ve made with this team.”

Syd Thrift

April 2000

 

 

THE LOSS OF MIKE MUSSINA in November of 2000 came as a massive blow to the fans of the Orioles, whom by and large, were still loyal to the team and more so even to Cal Ripken who was clearly coming to the end of the line of what had been a legendary career.

The Orioles not only missed the playoffs the previous three seasons but really never spent a day anywhere near contention despite the many contentious vibes the team had been casting off in the shadow of an owner who had lost his way and was getting attacked on every front in the public eye.

Peter G. Angelos bought the Orioles in 1993 because he was nouveau riche and starved for attention and the power that came along with controlling a civic trust for the local sports community. He wanted to be important. He wanted to be famous. He wanted to be loved.

Now, he had the eyes of the metropolis on his every move and was wilting under the pressure of trying to follow through on his promises to make the team a winner every year. There was little doubt that Angelos wanted to win. He just had no idea how to do it and simply throwing money at players wasn’t the answer to chasing down George Steinbrenner and the New York Yankees, who were the reigning champions and winners of four of the previous five World Series. And now, the damned Yankees took the only thing the franchise had left that was worthy of pillaging – ace pitcher Mike Mussina, who led the evening news in a pinstripe uniform and a dark NY hat because Angelos had essentially botched the negotiations and demeaned him publicly.

Angelos refused to pay Mussina the going rate.

It was never brought to light or reported – mainly because after being transparent regarding the finances of the Orioles in the early days of his ownership, Angelos went silent and became evasive – but the team began truly hemorrhaging money during this era of ineptitude on the field. Angelos admitted that the team wasn’t making money in 1996 and 1997, when wins on the field didn’t translate to profit for the club. The Orioles had the third highest payroll in Major League Baseball in 1997 and led the sport in 1998 and were still massive spenders vs. the marketplace in 1999 and 2000.

Angelos inherited a team with a $27 million payroll in 1993. By the turn of the century, the Orioles were spending $84 million per year despite seeing revenues dropping sharply over the previous three seasons when losing affected everything about the bottom line for the team. Fans who had tickets through corporations began not using them. Concession sales suffered. And attendance was falling because it had nowhere to go but down after the halcyon days of Camden Yards as the stadium approached the decade mark and many other cities had seen their own new stadia and downtown renaissance.

Angelos was quietly writing checks, privately, to fund the tens of million of dollars of losses of the Orioles. He acknowledged to other investors that it was his decision-making – and his alone – that had guided the team into a predicament where it wasn’t profitable and was bordering on dreadful on the field.

And as much as Mussina was one check that Angelos refused to write for $14 million per year, he had another similar check with three more years on the line and $39 million of team payroll still committed to Albert Belle, who struggled mightily during the summer

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Chapter 8 pic

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The Peter Principles (Ch. 8) – That time Peter Angelos tried to buy the Washington Redskins

Posted on 28 June 2017 by Nestor Aparicio

(Author note: This is Chapter 8 of my book “The Peter Principles,” which I was working to finish in March 2014 when my wife was diagnosed with leukemia the first time. I will be releasing the entire book for free online this summer – chapter by chapter. These are the true chronicles of the history of Peter G. Angelos and his ownership of the Baltimore Orioles. If you enjoy the journey, please share the links with a friend.)

 

8. That time Peter Angelos tried to buy the Washington Redskins

“Anyone interested in purchasing a sports franchise would have to be interested in buying the Redskins. It’s a storied franchise, in the nation’s capital – it’s one of the premier franchises in the NFL, and that automatically would make it attractive.”

– Peter Angelos to The Sun 1998

 

 

PETER G. ANGELOS WAS FASCINATED WITH more than just baseball at the end of the disappointing 1998 season. In November, when he was jockeying with Wren for control of the free agency situation, Angelos was also once again moonlighting in areas where he could exert his massive wealth and influence to boost his ego and status.

With the Baltimore Ravens of Ted Marchibroda mired in their third straight losing season since coming to Baltimore and being led by veteran quarterback Jim Harbaugh, Angelos talked openly in the media about still wanting an NFL franchise. And with a quarter of his Orioles fanbase – remember they were never to be referred to as the Baltimore Orioles, just “The Orioles” – coming from the Washington, D.C. area, Angelos thought it prudent and profitable to become a suitor for the true love of the nation’s capital – the Washington Redskins.

On Halloween 1998, Angelos threw his name into the media circus as a bidder for the team that was mired in estate debts left from the death of longtime owner Jack Kent Cooke in April 1997. Angelos had two major hurdles to clear: the NFL desperately wanted the family of Cooke to retain control, and the football owners made it clear they didn’t want cross-ownership issues with Major League Baseball, especially in a different local market.

Of course, that didn’t deter Angelos. The MLB baseball owners didn’t want him to be a part of their little club but he pushed his way in during a bankruptcy auction in 1993. The rules of the NFL owners were pliable, Angelos insisted.

Asked by Thomas Boswell of The Washington Post, if he would relinquish control of the Orioles to own the Redskins, Angelos said: “No, I would not. But I don’t think that question is even applicable. The rule states that in order to own a team in another sport, you have to be within the same market area as the football franchise.”

Angelos was essentially saying that Baltimore and Washington were the same market, a tune he would continue to hum years later when Major League Baseball would seek to put a team in the District of Columbia. During the summer of 1998, speculation suggested that the Redskins would fetch at least $400 million and perhaps as much as $500 million if the spending got aggressive amongst billionaires who would want an NFL membership. “Anyone interested in purchasing a sports franchise would have to be interested in buying the Redskins.” Angelos added. “It’s a storied franchise, in the nation’s capital – it’s one of the premier franchises in the NFL, and that automatically would make it attractive.”

Of course, in Baltimore to mention the word “Redskins” is akin to civic heresy amongst many longtime football fans who grew up on the Colts and hated anything burgundy and gold. The Orioles got plenty of pushback from Baltimoreans over the years as the team wooed D.C. baseball fans. After the Colts departed the Charm City, the subject of “market” was a source of major civic consternation from 1984 through 1995 when Redskins games were shown as “local” games on Sunday NFL viewing, despite Baltimore’s disdain

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