Dodgers must pay Manny Ramirez $8.33 million by June 30

17 Comments

Dodgers owner Frank McCourt already had to draw cash advances just to cover the June 1 payroll and now Molly Knight of ESPN Los Angeles reports that the team must pay Manny Ramirez $8.33 million in deferred money by June 30.

Ramirez’s two-year, $42 million contract with the Dodgers included three deferred $8.33 million payments due in 2011, 2012, and 2013, the first of which represents a larger figure than the standard every-two-weeks payroll McCourt has been struggling to meet.

According to Knight the Dodgers have yet to comment on the Ramirez payments, but last week USA Today did report that McCourt had enough money to cover the June 15 payroll. Hopefully there are still a few couch cushions McCourt hasn’t looked under yet, although even with all their issues presumably the Dodgers have been aware of the impending payment to Ramirez this whole time. MLB is no doubt hoping they didn’t plan ahead.

Each owner will get at least $50 million in early 2018 from the sale of BAMTech

Getty Images
3 Comments

Earlier this year Disney agreed to purchase the majority stake in BAMTech, the digital media company spun off from MLB Advanced Media. We know it as the source of the technology for MLB.tv and MLB.com, but it’s far more wide-ranging than that now. At present it powers streaming for MLB, HBO, NHL, WWE, and, eventually, will power Disney’s and ESPN’s upcoming streaming services.

The company was started by an investment from baseball’s 30 owners, so they’re getting a big payout as a result of the acquisition. Earlier this morning Jim Bowden dropped this regarding how much of that payout is in the offing in the short term:

That’s probably on the low end, actually. Some people I’ve spoken to who are familiar with the acquisition say the figure is more like $68 million in Q1 of 2018.

Good for the owners! It was a savvy, forward-thinking investment that, in the past, baseball owners might not have made. Bud Selig, Bob Bowman and others deserve credit for convincing the Jeff Lorias and Jerry Reinsdorfs of the world to think big and long term. It’s money out of the sky, raining down upon the owner of your baseball team for, basically, doing nothing.

Money which should be remembered when your buddy complains about a relief pitcher getting $6 million for only pitching 65 innings. Money which should be remembered when your team’s GM says that he has to cut back on payroll in the coming year.