Comments on: What if the Nuttings Are Losing Money? http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/ So much crap, so little time. Tue, 06 Jan 2009 18:17:10 +0000 http://wordpress.org/?v=2.6.3 By: JP http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/#comment-665 JP Sat, 30 Jun 2007 02:27:00 +0000 http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/#comment-665 Don't know if you caught the statement from Mr. Nutting after tonight's game on FSN. However, the point is, he passed this over as a protest against the players. After this latest remark of his, I like the chant NUTTING OUT! McCLATCHY OUT! Maybe this would get the message across to him. We want the players to know, it's not them. It's the ownership and coaching staff that must go. Don’t know if you caught the statement from Mr. Nutting after tonight’s game on FSN. However, the point is, he passed this over as a protest against the players. After this latest remark of his, I like the chant NUTTING OUT! McCLATCHY OUT! Maybe this would get the message across to him. We want the players to know, it’s not them. It’s the ownership and coaching staff that must go.

]]> By: Jeff Irvin http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/#comment-639 Jeff Irvin Thu, 28 Jun 2007 03:47:31 +0000 http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/#comment-639 No way this group is losing money. I see the point you where making and I agree with the overall verdict that they are shitty owners but they are making money and here is why. We can argue all we want about salary caps and operating income but the one fact that no one ever seems to talk about is the value of the franchise. In 1996 the McClatchy/Nutting Group purchased the Pirates for $92M. According to Forbes, the Franchise in 2006 is valued at $274M. That is a $182M increase over 10 years. The equity gained in the franchise is coming in at $18M + per year. These bastards are getting rich just on the equity increase alone. It is basically the same principle of you or I gaining equity in our house and then taking out a home equity loan. Then they have the nerve to tell us they do not collect dividends or a salary but use revenue sharing money to, "Pay down Debt". That Debt is the original $92 M they borrowed to by the team. And you know what paying down that debt does?? It increases the overall equity in the Franchise thus creating even more wealth to the Nuttings. And here is the kick in the nuts. How come teams like MIL and CIN can have so much higher payrolls that PIT? Well, because they borrow against the assessed value of the franchise and use that money for payroll and minor league development. Not the Pirates. They operate on a year-to-year balance sheet method. Money in, Money out. If they did open the books this is what it would show and it would show they where breaking even. But in reality that is not the case b/c of the paying down of debt and yearly increase of the franchise they are making a killing. At the minimum a $182M over 10 year killing. Sorry for the long rant, had to get that off my chest. See you on Saturday. No way this group is losing money. I see the point you where making and I agree with the overall verdict that they are shitty owners but they are making money and here is why.

We can argue all we want about salary caps and operating income but the one fact that no one ever seems to talk about is the value of the franchise.

In 1996 the McClatchy/Nutting Group purchased the Pirates for $92M. According to Forbes, the Franchise in 2006 is valued at $274M. That is a $182M increase over 10 years. The equity gained in the franchise is coming in at $18M + per year.

These bastards are getting rich just on the equity increase alone.

It is basically the same principle of you or I gaining equity in our house and then taking out a home equity loan.

Then they have the nerve to tell us they do not collect dividends or a salary but use revenue sharing money to, “Pay down Debt”. That Debt is the original $92 M they borrowed to by the team. And you know what paying down that debt does?? It increases the overall equity in the Franchise thus creating even more wealth to the Nuttings.

And here is the kick in the nuts. How come teams like MIL and CIN can have so much higher payrolls that PIT? Well, because they borrow against the assessed value of the franchise and use that money for payroll and minor league development.

Not the Pirates. They operate on a year-to-year balance sheet method. Money in, Money out. If they did open the books this is what it would show and it would show they where breaking even. But in reality that is not the case b/c of the paying down of debt and yearly increase of the franchise they are making a killing. At the minimum a $182M over 10 year killing.

Sorry for the long rant, had to get that off my chest. See you on Saturday.

]]> By: David Conway http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/#comment-638 David Conway Thu, 28 Jun 2007 02:36:28 +0000 http://www.theaveragewhiteguy.com/2007/06/what-if-the-nuttings-are-losing-money/#comment-638 I am a displaced Pirate fan from albuquerque New Mexico. When I heard about your protest, I was imediatly infactuated with the idea to protest the regime that has turned this once proud franchise, into the laughing stock of the entire leauge. It turns out i will be here in pitt. for the next series and two games into the brewers series. I have another idea for the future however. I think it would be benificial to have fans go on the rotunda for an entire inning and chant NUTTING OUT! McCLATCHY OUT!I think it would hurt them mentally and would also create a big media buzz.. I also think fans would really catch on to the chant, and it would become a regular chant untill these goons are out! David Conway age 18 Albuquerque NM I am a displaced Pirate fan from albuquerque New Mexico. When I heard about your protest, I was imediatly infactuated with the idea to protest the regime that has turned this once proud franchise, into the laughing stock of the entire leauge. It turns out i will be here in pitt. for the next series and two games into the brewers series. I have another idea for the future however. I think it would be benificial to have fans go on the rotunda for an entire inning and chant NUTTING OUT! McCLATCHY OUT!I think it would hurt them mentally and would also create a big media buzz.. I also think fans would really catch on to the chant, and it would become a regular chant untill these goons are out!

David Conway age 18
Albuquerque NM

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