Stop me if you’ve heard this one: team owner to get divorce, finds himself in sea of financial troubles

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A team owner with nine houses and three-dozen other properties scattered around the world? Crazy spending on cars and baubles? An acrimonious divorce that could impact the course of the franchise? Nah, not Los Angeles.  Seattle.

Geoff Baker has the story of Mariners’ minority owner Chris Larson. A man who, it has long been thought, would one day take over the team from absentee owner Hiroshi Yamauchi. A man who, despite being worth millions, has racked up debts of nearly a quarter of a billion dollars. Because, despite owning some 19 million shares of Microsoft stock from his days as an early-employee, Larson borrowed against them to invest in real estate and live what appears to be a crazy-extravagant lifestyle.

I don’t think I’ll ever understand rich people. Not at all.  The way it should work is that you get rich. You get a nice place to live. One nice place. Maybe one for your parents if they’re still around.  Buy a decent car. Take some trips. Eat at some nice restaurants and go to ballgames.  You should be able to manage all of that on the rounding error of a fortune amassed by 19 million shares of Microsoft stock.

Why does it always have to be so complicated?

MLB sells share of BAMTech to Walt Disney Co. for $900M

Jakub Porzycki/NurPhoto via Getty Images
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NEW YORK – Major League Baseball has sold its remaining share of a streaming service technology company to the Walt Disney Co. for $900 million.

The sale was disclosed Tuesday in Walt Disney Co.’s annual filing report through the SEC. MLB received the $900 million in exchange for the 15% stake it still had in a company called BAMTech, which originally started as MLB Advanced Media in 2000.

The technology helped MLB become a leader in sports streaming in the 2000s.

Walt Disney Co. has been buying chunks of BAMTech for the past five years and now owns 100% of the company. The National Hockey League sold its 10% share of BAMTech to Walt Disney Co. for a reported $350 million in 2021.