Lots of people want to buy in to MLBAM, but the owners aren’t selling


Major League Baseball Advanced Media — the baseball subsidiary behind and a lot of stuff about which you have no idea — is a gold mine.  It, more than anything, has been responsible for the sharp increase in baseball revenues in recent years. And as an added bonus, the company just gets stuff right.  I can watch a Mariners-A’s game on a Tuesday night in Ohio if I want to, and I can do so relatively cheaply. And it works. As does most of the stuff they do. Viva MLBAM.

But when you get a money-making enterprise that folks like, other folks will want to invest in it. And as Business Insider reported the other day, lots of private equity groups want to invest in MLBAM.  But baseball is rejecting these overtures, preferring to forgo the instant liquidity in favor of keeping it the league and the owners’ very own private thing.  BI has some possible explanations for this:

A source close to the talks tells us the company gets “call a day” from private equity firms, but that the company isn’t looking to sell a stake for a few reasons:

  • It’s already loaded with cash.
  • Owners are already getting a huge dividend.
  • Selling a billion dollar stake in MLBAM any time soon would make it very hard for owners to argue that they’re broke in upcoming labor negotiations with players.
  • Selling a stake could further complicate the ownership stake and perhaps even force a dreaded shotgun IPO.

Those are all very plausible reasons. I’ll add another one:  The books of major league baseball owners are a thicket of self-dealing and chaos, and there’s no way in hell they want to open them up to anyone they don’t have to lest people see just how ugly they really are.  If you doubt this, just recall the fun stuff we saw when Frank McCourt and Tom Hicks were forced to open their books in litigation. Or when Deadspin reported on a bunch of leaked financials from the Pirates, Marlins and other teams.

It’s less the case than it used to be, but in a lot of ways baseball teams are multi-million dollar businesses being run like a small town auto dealership.  They make money to beat the band, but they’re not about to share that with the Wall Street crowd.

The Cubs clinch World Series berth with NLCS Game 6 win

CHICAGO, IL - OCTOBER 22:  The Chicago Cubs celebrate defeating the Los Angeles Dodgers 5-0 in game six of the National League Championship Series to advance to the World Series against the Cleveland Indians at Wrigley Field on October 22, 2016 in Chicago, Illinois.  (Photo by Dylan Buell/Getty Images)
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After 71 years, the Cubs are headed back to the Fall Classic.

The dominance with which Clayton Kershaw attacked the Cubs in Game 2 of the NLCS was nonexistent in Game 6 as the Dodgers’ ace loaded the bases to start the first inning and scattered five extra bases and five runs over five frames. By the time Dave Roberts pulled his starter in the sixth inning, Kershaw was sitting on a Game Score of 33, the lowest he’s mustered since the start of the 2015 season. Only one of his strikes came via curveball, and whether he was having difficulty locating his off-speed stuff or felt more confident with the fastball-slider combo, it was the fewest curves he’d seen land for strikes all year (per David Adler).

Where the Dodgers were able to give Kershaw the edge in Game 2, they found themselves powerless against opposing hurler Kyle Hendricks. Hendricks turned out 7 1/3 scoreless frames with two hits and six strikeouts, preserving the Cubs’ second shutout of the postseason and the first since they bested the Giants in Game 1 of the NLDS. After his 1-0 loss to the Dodgers early in the NLCS, seeing the MLB ERA leader turn out a gem was a relief for the Cubs, especially one as spectacular as an 88-pitch two-hitter.

With Hendricks effectively stymieing the Dodgers’ best attempts to get on base, the Cubs played to their strengths at the plate. Kris Bryant and Ben Zobrist cleared the bases in the first inning for a two-run lead, followed by a Dexter Fowler RBI single in the second. Willson Contreras came through in the fourth inning for the Cubs, lifting an 87 m.p.h. slider to left field for his first home run of October, while Anthony Rizzo hit his second homer of the postseason on a 1-1 fastball in the fifth.

Neither bullpen allowed a single run from the sixth inning onward. Dodgers’ right-hander Kenley Jansen took the ball from Kershaw in the sixth, scattering four strikeouts over three innings and denying the Cubs so much as a single baserunner through the end of the game. Aroldis Chapman, meanwhile, issued just one walk in 1 1/3 scoreless frames, inducing a Yasiel Puig double play to clinch the Cubs’ 17th franchise pennant.

With the win, the Cubs will face off against the Indians in Game 1 of the World Series on Tuesday at 8 PM EDT. And, in case you needed a reminder:

Video: Willson Contreras blasts first postseason home run off of Kershaw

CHICAGO, IL - OCTOBER 22:  Willson Contreras #40 of the Chicago Cubs celebrates after hitting a solo home run in the fourth inning against the Los Angeles Dodgers during game six of the National League Championship Series at Wrigley Field on October 22, 2016 in Chicago, Illinois.  (Photo by Jonathan Daniel/Getty Images)
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So much for Clayton Kershaw posing a threat tonight. The Cubs got their knocks in early and often against the Dodgers’ ace during Game 6 of the NLCS, racking up three runs in the first three innings before rookie catcher Willson Contreras unleashed his first postseason home run in the bottom of the fourth inning.

According to’s Phil Rogers, Contreras became the 10th Cub to homer in the 2016 playoffs, following big hits by Addison Russell, Anthony Rizzo, Dexter Fowler, Miguel Montero, David Ross, Jake Arrieta, Kris Bryant, Travis Wood, and Javier Baez. Of the ten home run hitters, Contreras joins catchers David Ross and Miguel Montero as yet another backstop capable of driving the long ball (and, less importantly, as another player capable of a sweet, sweet bat flip).

Rizzo, whose last homer was a deep drive to right field off of Los Angeles right-hander Pedro Baez in Game 4 of the NLCS, piled on Kershaw’s five-run outing with another home run in the bottom of the fifth inning. Kershaw called it a night after five frames, and the Cubs currently lead the Dodgers 5-0 in the sixth inning.