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Padres took out $50 million loan to cover payroll
Posted on 11/1/23 at 5:14 pm
Posted on 11/1/23 at 5:14 pm
quote:
Despite selling more tickets this season than all but one Major League Baseball team, the San Diego Padres took out a loan for about $50 million in September to address short-term cash flow issues and meet their obligations, including player payroll, people briefed on the team’s finances told The Athletic.
quote:
“If the question is, despite all that revenue growth, why would we need to be borrowing more money? I mean, you can connect those dots,” said a Padres official who was not authorized to speak publicly. “The levels of payroll that we’ve been at have probably reasonably been in excess of what we could have supported, but it was part of the larger plan.”
LINK
At least the players got paid I guess.
23
Posted on 11/1/23 at 5:22 pm to Kinderman
This is a real bad look.
Posted on 11/1/23 at 5:24 pm to Kinderman
That franchise. Lmao.
Posted on 11/1/23 at 5:26 pm to Kinderman
Juan Soto is a Yankees.
They've kind of locked themselves into payroll hell. Manny, Bogarts, Tatis, Darvish and Musgrove are all locked into pricy long term contracts.
They've kind of locked themselves into payroll hell. Manny, Bogarts, Tatis, Darvish and Musgrove are all locked into pricy long term contracts.
Posted on 11/1/23 at 5:28 pm to Kinderman
Next Year is the Padres year! 
Posted on 11/1/23 at 5:31 pm to Kinderman
Are they having trouble with Bally and cord cutting?
Posted on 11/1/23 at 5:31 pm to Kinderman
Dave Winfield
Posted on 11/1/23 at 5:34 pm to Kinderman
I was wondering where they got the money to throw at every good FA that came along
Posted on 11/1/23 at 5:38 pm to Kinderman
Barry bonds
Posted on 11/1/23 at 5:40 pm to chalmetteowl
quote:
Are they having trouble with Bally and cord cutting?
Bally gave back their contract in bankruptcy, MLB owns the rights now.
Posted on 11/1/23 at 5:40 pm to Kinderman
quote:
despite all that revenue growth, why would we need to be borrowing more money? I mean, you can connect those dots,”
Posted on 11/1/23 at 6:31 pm to Quidam65
quote:
Bally gave back their contract in bankruptcy, MLB owns the rights now.
Bally/Sinclair met some of their obligations, but the Padres were one of the teams that they quit paying.
MLB’s takeover ensured that their games remained available on TV, but the revenue for the Padres were owed wasn’t paid.
Posted on 11/1/23 at 6:39 pm to Kinderman
What is the issue? Padres ownership could do this every year for the next two decades, and still make a killing when they sell the team along with any debt.
Posted on 11/1/23 at 6:40 pm to Kinderman
These video game salaries have to stop sometime.
Posted on 11/1/23 at 6:41 pm to Kinderman
Who is their ownership, George Shinn?
Posted on 11/1/23 at 7:33 pm to Kinderman
Ballys deal going bad is what F’d this up for them
Posted on 11/1/23 at 7:57 pm to Kinderman
The Padres low key are a mess.
Posted on 11/1/23 at 8:00 pm to Basura Blanco
quote:
What is the issue? Padres ownership could do this every year for the next two decades, and still make a killing when they sell the team along with any debt.
Only if the creditors believe in the MLB.
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