Did MountainStar Sports really pay $20 million for the Tucson Padres? According to this story from Forbes magazine, in 2008 the most valuable minor league team was the Sacramento River Cats, the Oakland A’s AAA affiliate. It was valued at $29.8 million. The twentieth most valuable minor league baseball team, the Kane County Cougars, Oakland’s single A affiliate, was valued at $16.4 million. There are 60 minor league teams in High A leagues, or better, not counting the Mexican League teams.
And the stats from 2008 reflect the frenetic economic climate of 2007. I doubt that baseball teams are worth more, now, in this economic climate.
If MountainStar Sports says they paid $20 million for the Tucson Padres, a team without a real home, with average attendance lower than the Diablos, ranked last in their league, I would have to question either their integrity or their business acumen. Since their ability as businessmen is proven, and a representative of their advertising agency Mithoff Burton, stood at the lectern and told bald-faced lies to City Council at last week’s meeting, I have to wonder.
Of course, MountainStar Sports is a private corporation, under no obligation to tell us how much they paid for the Tucson team, and under no obligation to tell us the truth. But likewise, we’re under no obligation to believe them.
Purchase price of the Padres has no net effect on El Paso tax payers.
Point is Mountain Star Sports wanted to make it happen,
and have the jack to do it. Might as well lie back and enjoy it.
I think that if they over-represented their investment, they over-justified their return. Our poor city government got took, those poor babes.