Mar
26

Jeter wants to ‘call the shots’

By

Derek Jeter would like to own a baseball team, he told the Associated Press yesterday. In an interview that probed Derek’s post-retirement plans, Fred Goodall of the AP talked ownership with the Yankee Captain, and Jeter made it clear that he wants a real piece of the action a la Michael Jordan and not just a token share of a team. “The only interest I have in ownership is to be able to call the shots. I’ve said that time and time again,” Jeter said.

This isn’t the first time we’ve heard talk about Derek’s interest in team ownership. In fact, just a few weeks ago, I talked about how Jeter could become a part-owner of the Yankees. Suddenly, that zany idea doesn’t seem as far-fetched as it once did. Whether Jeter would be a good savvy owner obviously remains to be seen, but he has spent his career around some pretty powerful sports business figures.

Categories : Asides, News

51 Comments»

  1. ADam says:

    As long as he doesn’t sign Kwamee Brown… I’m cool with that

  2. currambayankees says:

    I seriously doubt he gets a piece of the Yankees pie. Owner maybe somewhere like Tampa. Don’t see the Yankees doing that.

  3. A.D. says:

    Jeter has a lot of money, but not necessarily that much money. Could potentially pull together an ownership group for a struggling team down the road.

  4. TheZack says:

    Have former players EVER made good owners? I can think of Lemieux, but otherwise?

    I would have a hard time seeing Jeter put aside his ego and let others run the team. I’d also have a hard time seeing him be able to put together the money to have enough of an ownership stake to have his voice matter at all.

    • OldYanksFan says:

      Nolan Ryan? Not an owner but has been good for his team, no?

    • Rick in Boston says:

      Branch Rickey owned a part of the Dodgers in the late 40′s. Connie Mack owned the A’s after his career ended.

      That’s all I can think of for baseball. Did you know the Jays have only been owned by corporations (Labatt’s & Rogers).

  5. Tank Foster says:

    I cringe.

  6. (thinks about this logically)

    Teams Derek Jeter could flat-out never afford (unless he starts a company that discovers cold fusion): (20)
    Yankees, Red Sox, Mets, Dodgers, Cubs, White Sox, Cardinals, Mariners, Phillies, Braves, Giants, Angels, Orioles, Rangers, Rockies, Astros, Padres, Indians, Tigers, Nationals (they’re actually 6th on the 2009 Forbes value list at $440M; no, seriously)

    Teams Derek Jeter might possibly be able to afford as the leader of an ownership group (but still not all by himself) but probably won’t be sold anytime soon: (6)
    Reds, Brewers, Twins, Rays, Royals, Pirates

    Teams that are realistic targets for a Derek Jeter ownership group: (4)
    Diamondbacks, Blue Jays, Marlins, A’s

    That being said, I’d imagine that when the D-Backs, Jays, Marlins, and A’s all change ownership hands at some point in the next 10-15 years or so, Jeter’s group would probably quickly get outbid.

    Odds: 5%.

  7. vinny-b says:

    who cares.

    contrary to popular belief, Derek Jeter is not God

  8. Steve H says:

    Hopefully he puts on his owners hat when he’s ready to sign his next contract as a player.

  9. Mattingly's Love Child says:

    I’m not sure how successful he’ll be since he just got the reins, but if Jordan succeeds with Charlotte, maybe he would make a good partner for a Jeter ownership group of a baseball team?

    • Jordan will probably have his hands full as it is. The NBA isn’t a very financially sound league at the moment.

      • Mattingly's Love Child says:

        I’m thinking down the road, 5-10 years. Jeter probably has another 5 years left in the league. And I doubt he jumps right into ownership. He’s gonna have to spend a couple of years in retired life, destroying Charles Barkley in golf and the like. His jones for competition would come back, and then he’d be looking to own. So we’re about 7 years. If the NBA is still f’ed in 7 years, it’s doneski.

        • Sure, perhaps.

          Crazy (but not that crazy) idea: Jordan and Jeter form a triumvirate ownership LLC that collectively own the Charlotte Bobcats Carolina Flyers and the Tampa Bay Rays as co-owners, with Jeter running the Rays, Jordan running the Flyers, and a third silent party providing the big financial capital to keep both organizations running.

          The third party?

          Tiger Woods. Your mind: BLOWN.

  10. Hughesus Christo says:

    You don’t become Derek Jeter by setting realistic goals. I can definitely see him finding a Nolan Ryan situation somewhere. Perhaps after they clean house in NY for assembling a 120 million dollar starting rotation of 35 year olds.

    • The problem is, Ryan’s situation isn’t really what Jeter is claiming he wants.

      Ryan’s a minority owner. He gets to serve as team president and thus wields more power than most minority owners, sure, but he serves as team president at the pleasure of majority owner and CEO Chuck Greenberg. His power can be eliminated at the blink of an eye.

      • Mattingly's Love Child says:

        Of course, canning Nolan Ryan, in Texas, would be rather foolish for business reasons (I’m thinking sponsorship, not fans). But he is much more dependent on the good will and sanity of the majority owner.

        No way Jeter puts himself in that position.

  11. “Suddenly, that zany idea doesn’t seem as far-fetched as it once did.”

    Yes it does, for all the reasons that it did then.

  12. king of fruitless hypotheticals says:

    he wants to be an owner and shot caller.

    That just means he needs to either be the majority owner or have enough silent partners with the right contracts.

    oh, and a billion dollars just ain’t what it used to be either…if he’s been working towards having that much to be able to buy a team since he started, he may very well be closing in on that mark.

    (dont laugh…dude started working towards being the yankee shortstop when he was six. look where that got him.)

    • Let’s say Jeets never really spent any of the money he earned, though, he just bought a modest 250k house in Rockland county somewhere and kept rolling a Toyota Corolla. No bling, no island resorts, none of that. Get paycheck, place in bank.

      B-R.com says he’s made 182M in his career from direct salary. He’s probably going to add around another 100M to that before he retires (the last year of this deal + whatever he gets in an extension). That’s 280M.

      Maybe he’s got another 100M in endorsement money over his career; let’s go nuts and say $150M. That’s probably high, but whatevs. You’re looking at a man who, if ALL his assets were straight liquid, has probably 350-450M to his name, total. (But I’m sure he’s spent some of it.)

      The Rangers just got sold for 500M. The Cubs sale price was $900M.

      Even the lowest valued teams who struggle to compete, draw fans, and have fucked up stadium situations, like the Rays/A’s/Jays would probably sell for a 350-400M price point say, 6-10 years from now when Jeter would actually be retired and able to place a bid on a team, meaning he’d have to sink every cent he has (and possibly some that he no longer has) into a team.

      He’ll get outbid.

      • Tubby says:

        But he’s not going to be paying cash for a team. Even if he ‘only’ has $200 million sitting in a low interest checking account, that’s plenty of money to finance the purchase 51% of team. If he wants to buy a team, money won’t be the issue.

        • Snakes on the mother effin Temple Of Doom says:

          Agreed. There’s this little thing called leverage. It’s what happens when you pile debt onto equity in a capital structure.

          He could easily leverage his personal net worth by 2 – 10x depending on the projected cash flows of the underlying business.

  13. Snakes on the mother effin Temple Of Doom says:

    By the way, do we have any specific reason to believe that Derek Jeter would make a good shot caller? Yeah yeah he works hard. But…the rest?

    • pete says:

      that. It sounds to me more like he’s asking for a position in the FO, rather than the Board, since there’s just no way he can purchase significant enough ownership to become a “shot-caller” that way. And, IMO, if he wants to work in the FO, he needs to start as an intern just like everyone else. Being good at baseball does not make you good at being a GM, or something similar.

  14. cr1 says:

    Regarding DJ’s total worth, unless he’s kept it buried in the basement it’s been busily multiplying itself through investment and interest, so there’s more there than whatever the checks add up to.

    Also, I’ve read that he has in fact been putting money together towards an eventual ownership group for some time and that he already has others in on it, starting with Posada (who has also been quoted in the media on the subject of such a joint ownership group).

    No idea how good the sources were for such stories, but the idea doesn’t seem on the face of it completely without credibility.

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