Word: owners
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Dates: during 1970-1979
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...Owners have publicly declared that they were losing money with the former reserve clause and will now be ruined without it. But would any sane businessman have purchased either of the two expansion franchises last year for $10 million each if they were certain financial losers? A baseball team can be used as a tax shelter for rich men like McDonald's owner Ray Kroc or Seagram's magnate Charles Bronfman, but shrewd businessmen do not generally invest in predictably unprofitable enterprises...
...this game: men like George Steinbrenner, Gene Autry, or Ray Kroc. If they offer Reggie Jackson $400,000 a year for five seasons, they take a costly risk which they gamble will prove fruitful. The competitive price of labor will, most certainly, prove prohibitive for someone like Minnesota Twins owner Calvin Griffith, who has no outside business to provide cash for premium players' salaries. The few teams without significant capital backing may, unfortunately, find it difficult to remain competitive...
Have you ever wanted to own your own professional baseball teams? Two Harvard students want to make the dream of sitting in the owner's box at the World Series come true...
...seem to be off to a good start. The Yawkey estate, the current owner of the team, is only asking $18 million for the Sox, and Campbell and Shepard have already paid for the $140 ad totally with other fans' donations...
Investors like Jimmy Goldsmith, the banker-owner of the French magazine L'Express, helped Frost meet his $2.5 million in production costs. Frost will retain about half of all profits...