Venerable New York Times sport columnist Murray Chass reports that Twin owners Carl Pohlad (estimated net worth: $3.1 billion) is the richest of all baseball team owners. I knew, of course, that Pohlad (at right) was wealthy, but I didn’t know that he was three times richer than Yankees owner George Steinbrenner.
This stuff usually drives me crazy when I think about the decade-long Twins campaign to get taxpayer subsidies for a new stadium. Chass puts it into a different context, in which the Twins are usually excused for letting the Torii Hunters and the Johann Santanas move on to teams in bigger because they can’t afford to pay the big bucks. I get Chass’ point, and even (being a Twins fan myself) agree with it. But I can’t bring myself to waste too much my available hand-wringing over the moral problem of whether the billionaire owners are paying the millionaire players enough.
Eric -
While I completely agree that taxpayer subsidies of ballparks is unseemly, there is no way around the process for now. If the state or local agencies didn’t step up to the plate, there are many other cities who will. The economic impact of professional teams on retail and hospitality is not questioned, and governmental agencies often end up profiting from the expense.
The article itself proves one thing, though. Never trust a banker with your passions - they alway look out for their interests first!
Actually, the economic impact of professional sports teams on cites is almost nil, and the taxpayer funded stadiums don’t come close to paying for themsleves. The claims of economic benefits have been so thoroughly debunked that teams don’t really make them anymore.
http://www.boston.com/news/globe/ideas/articles/2006/03/19/ballpark_figures/
I agree that there is no way around the process, though, and like having sports teams, so I don’t have a problem paying for the stadiums.
As to Carl Pohlad, he must think he can take it with him. At least he earned the money. Once he goes (and finds he can’t take it with him) the team will be run by his kids, who just have the money handed to them. Exhibit A for why the estate tax should be kept around.
I do not fault Carl Pohlad for running the Twins as a business. He is obviously good at running businesses, or he would not have so much money. His teams have been good more often than not. Minnesota baseball fans could have it much worse.
I do not buy the argument that public subsidies were necessary to keep the Twins here. The Twin Cities market is too large not to have a team in MLB, where there are 30 teams. The public subsidy was given because Carl Pohlad is smarter than the voters.
In Torii Hunter’s opinion, the new stadium will keep the best players away. The outdoor stadium will keep me away, also, especially in April and October.
Anyway, if Carl Pohlad does not want to spend on his team, I am okay with that. Even as a baseball fanatic, I can envision better uses for his money.