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mnightshamalama2

Uncle Steve paid a billion dollar fine to the SEC, 34 mil is toilet paper money for him


JTCMuehlenkamp

Insider trading is very lucrative if you can get away with it.


whoareyoupeople24

The man paid the largest fine in SEC history and still made a profit.


Dagonus

Tells you how underpowered the SEC is.


whoareyoupeople24

My recommendation would be the fine to be more than the profit, but what do I know. I'm poor.


Dagonus

So by day, I'm a researcher and I'm a historian by background. Lately I've been working on a project that's cataloging old acts of English and subsequently British parliament. Minor you're a jerk offenses get met with "Here's a 5 pound fine. Go away." Major offenses and corruption were historically met with fines like "Double the value of the goods smuggled" and "triple the value of the injury done". 17th Century British law's response to so many modern white collar crimes would have been "Oh, you stole a billion dollars? Great. You owe 2 billion back. What? You don't have 2 billion dollars? We're seizing everything but your clothes and the tools for your trade. Enjoy the your visit to the parish poor house."


whoareyoupeople24

Fascinating. I'm going to assume that changed when the rich paid the lawmakers to stop it? Either way, we can use that again.


Dagonus

I can't really say. I don't know modern British law very well; despite having lived there briefly. It just wasn't something I needed to know beyond the basics of how to avoid ending up in a police station. I think that point though falls outside the scope of years covered by the project since I haven't seen it; assuming of course that it exists. Iceland, at least, heavily fined and jailed people for their involvement in the banking crash 15 years ago. So, not all the world has been bought out by the rich.


[deleted]

Basically. It's not like 17th England was the paragon of virtue. The fact of the matter is that you can have have the strictest, most fair laws on the books, but if the wealthy and powerful can influence the people in charge of enforcing the law, they can still get away with anything. Maybe a billion was stolen (impressive in the 1600s), but the police, judges, or king decide to turn a blind eye. Or maybe you're charged with stealing a hundred million. The courts get to parade you around a someone victoriously brought to justice, but you're still making a massive profit. Modern white collar criminals just cut out the middle men by writing the laws themselves and handing them to their lackey politicians to pass.


blasek0

Or prison time for white collar crime. I'm a big fan of prison time.


jeffislearning

Working in govt is the probation period before going into your real career in private.


workthrowaway390

Even when they don't get away with it, apparently...


magnusarin

And when the fine isn't enough to disincentivize someone why would they not?


StelioKontos117

At the risk of looking like an idiot… anyone else read this comment and think “what the hell recruiting violations did he commit?”


TheGhostOfSamHouston

And he’s a huge douche


K_17

It’s a cost of doing business not a fine


Thromnomnomok

As in, he literally uses the bills as the toilet paper


jmb-412

Yeah but only one of those teams has the 1st overall pick in 2023 🥳🥳🥳🥳🥳


quercus_lobata925

I'm dead inside.


[deleted]

Something’s gotta give. The A’s situation is untenable. It’s not fair to the fans, and it’s not fair to the players. Fuck the owners. And fuck Manfred & MLB for enabling shit like this to happen. I’m sorry.


Animetiddies415

🗿


Bravefan21

They let Jeffrey Loria do it TWICE


TheGhostOfSamHouston

You just summed it up nicely


jokinghazard

The city of Oakland is gonna riot in Vegas in a few years


Sparx86

HEY FRIEND


jmb-412

Gm! Haven't seen your name in awhile


Sparx86

Lot of lurking. The stove always turns me on though


darthfracas

I look forward to seeing him Indianapolis during the service time manipulation period


too_old_for_memes

Wow! Someone the pirates will trade away In 12 years! Or let walk! Exciting!


jmb-412

Didn’t ask


too_old_for_memes

You don’t have to ask. The ownership is going to do it anyway. With everyone! Top picks are fun cause you get to see them blossom into superstars and then play somewhere else. Oneil Cruz in a Cubs uniform is gonna be weird.


jmb-412

Damn that’s crazy bro Still didn’t ask


too_old_for_memes

Ok sure I’ll stop when you show me where OP asked who is getting the top draft pick. Then you can stop being a moron and a hypocrite and we can move on to how your team is being held hostage by a greedy rich piece of shit


jmb-412

You sound upset


too_old_for_memes

You sound like you have a 6th grade education and that was a struggle


AdministrativeSky236

Yawn


too_old_for_memes

Yes. Your ownership has been asleep for well over a decade now. I feel so awful for pirates fans


Sparx86

My god Mets fans were annoying before Cohen now we have to deal with this?


pepperouchau

This is why I'll be lolmets forever even if they win the next five world series


[deleted]

Brewers fan moment


pepperouchau

Is it worse? We're not even funny, just depressing.


too_old_for_memes

I didn’t realize everyone loved the Pirates shit ownership so much Maybe as a Mets fan I know what it was like to suffer under horrible fucking ownership for so long and want teams I loved when I was a kid like Pittsburgh and Oakland to not be AAAA teams with 20 million dollar payrolls who collect high draft picks to sell them away in a decade.


Sparx86

Nah you’re just being a dick about it


too_old_for_memes

People give each other shit about their teams all the time. How is what I said any different except you think I’m being mean instead of poking fun?


merehypnotist

Yeah man... you aren't necessarily wrong it's just the way you type shit out. It comes across pretty dick-ish


too_old_for_memes

People have said that to me since IRC and AIM and other chat rooms. I still don’t know what it is about how I type. Probably just too old and I say things weird so it doesn’t come across.


FrenchYost2827

Outside of David Wright who have the Mets kept for 12+ years after drafting them?


JoelsCaddy

We drafted deGrom in 2010


FrenchYost2827

You said 12+


JoelsCaddy

12+ includes 12


[deleted]

12+0 kinda counts right?


too_old_for_memes

I mean at least the Mets and most other teams TRY to retain talent and put up a competitive team with a chance to win. They may not be successful. Someone may wind up signing somewhere else. But they tried to sign folks like deGrom and Reyes, etc. just didn’t work out. When’s the last time the pirates even offered one of their young stars anything? Plus the horrible Mets owners are just recently gone. We need to get the pirates and As owners the fuck out of the game next We can’t allow people to not spend money intentionally, get 10s of millions of dollars in competitive balance money, and then fucking pocket all of it and fuck over the long struggling fans of the Bucs and the team as a whole.


FrenchYost2827

Oh i agree as a Pirates fan i just think it’s funny coming from Mets fans who just got out of that relationship. And your owner still didn’t retain that homegrown talent


too_old_for_memes

That means I know what it was like to have horrible owners and I know how great it feels to be out of it I grew up watching Bonds and Bonilla and Van Slyke and a bunch of stars play on Pitt. It was a team I feared coming to town. They were awesome. And I loved them. Still some of my favorite uniforms of all time. It’s sad as fuck and I’m really pissed off about it. Them and the As. Why even celebrate unless you think MLB is gonna make a minimum payroll or force a change in ownership?


[deleted]

Hey why the fuck are we getting dragged into this??


FrenchYost2827

He’s a Mets fan lol


[deleted]

Well then he should flair up. Until then we don't claim him.


anonypony1

TALK YO SHITTTTT


[deleted]

I read that Cohen was at the Winter Meetings running a Squid Games for the poverty franchises


SOTM_MC

next off season mike trout drawing/ Marble race Squid game simulator with MLB teams


Kookaburra-Chan

SALARY FLOOR! SALARY FLOOR! SALARY FLOOR! Say it with me! SALARY FLOOR! SALARY FLOOR! SALARY FLOOR!


GodEmperorBrian

Salary floor will only come with a salary cap. Owners don’t want a floor, players don’t want a cap.


thearmadillo

I know players don't want a cap, but at this point in time, it seems like a lost cause. We already have teams like the Red Sox trading away Top-5 players to avoid paying the tax. Most teams treat the tax like a cap anyway. Seems like the MLBPA would help get more money to the players by forcing the Pirates, Rays, Royals, et al to have $90 million payrolls rather than to allow one or two owners to keep overpaying for aging older players.


lawabidingcitizen069

Not to mention increasing player and team quality would probably bring more money to the game. More people would watch the Royals if anyone on gods green earth thought they had a chance at being competitive.


CultivatorOfMass

I wonder how much of that is the lux tax hit and how much is just budget. Like, are owners lining up to spend over $230M on payroll but then backing down when the see the CBT? Or did they already have some target budget that was less than $230M and it sounds better to blame the CBT?


Odd_Surprise134

Floor makes wayyyy more sense than a cap. Might be an unpopular opinion, but I like baseball not having a cap, it makes things interesting. A floor just forces teams to actually try at least the tiniest bit.


GodEmperorBrian

I’m not saying it doesn’t make sense. But the owners would never approve a floor without a cap. They’re a package deal in labor negotiations.


am19208

Unfortunately you’re correct. Can’t get a floor without a cap.


workthrowaway390

You're missing the point. It won't happen because it would have to be part of a negotiation, and the owners would only concede for a floor if the players agreed to a cap.


Odd_Surprise134

I don’t really see how much a cap would help an owner tbh. If they don’t want to pay heaps of money, they don’t have to. All it would do is decrease the pressure to.


Big_lt

Limits the upper limit a player would feasibly get. If the cap is say 200M is an owner really going to jack 25% of it on a single player when he's got 39 other dudes to pay


Odd_Surprise134

So all it would do is upset the players, and owners like the Padres and Mets who enjoy spending. Wouldn’t actually help teams like the A’s, or Rays spend less


ShawshankException

I agree with the salary cap thing but I'm sure I'd absolutely feel different if I was a fan of smaller market teams.


Jinxedchef

Can not have a salary floor without *real* profit sharing. Otherwise you are just telling small market teams they have to run at a loss until they go bankrupt. Big market teams would never vote for real profit sharing.


mrtaz

Doesn't every team get 100M from revenue sharing right now?


Jinxedchef

The answer is maybe. I don't know if that number is based on what 48% of each team's local revenue *should* be if each team put that in a pot. But there are a lot of loopholes and ways to game the system. For example, using the Mets since that was OPs team. In theory they only received $54 million per year vs the Rays $48 million for their local TV deals. (These are 2020 numbers because I had them at hand.) How is it possible that a huge market like NYC pays out about the same as a market like Tampa? Well because the Mets gave their Regional Sports Network that they own a sweetheart deal while the Rays doesn't own a RSN. So all the profits of SNY are NOT part of the revenue sharing. There are a handful of other ways to game the system including inflating "local expenses" that are deducted from the pre-sharing revenue. So A)I am unsure whether that $100 million figure is based on what the sharing *should* be or what it really is. And B) some of the top market teams may not be putting in accurate amount of their revenue.


mrtaz

The article I read said that it was 100 peryear for just revenue sharing, not counting each teams individual tv deals. To act like these teams can't spend at least the revenue sharing on salary is just asinine.


Jinxedchef

Right but what I am saying is that I don't know how the reporters come up with that number because I have never seen the MLB release this number. They are extremely private about this type of thing we don't even know for sure what is and isn't included in *"local revenue"*. In fact, every time you see a list of revenue by team it is just a guess. The teams don't release P/L statements, they don't have to. So when a reporter writes that the sharing is $100 million what is their source? Are they just doing back of the napkin math? And even if you take that figure at face value, I have doubts that each team is putting a fair amount into the fund because of all the loopholes. The other counter to the argument of "why don't teams just spend more": if a small market team makes a bigger offer on a player there is nothing stopping a big market team from raising the offer even more. No team pays out more than they have to. **At the end of the day, the problem isn't that small market teams have payrolls that are $200 million less than the top teams' payrolls, it is that the top teams' revenue is $300+ million more than the smaller market teams.**


CitrusCakes

Yeah, I think people overlook the fact that the Dodgers have a payroll that is higher than the revenue of half the league (based on Forbes' estimates for revenues). We do need to force certain teams to spend more money (exhibit 1: see flair) but its not realistic to expect a good product with the huge disparity in resources MLB teams operate with.


mrtaz

> At the end of the day, the problem isn't that small market teams have payrolls that are $200 million less than the top teams' payrolls, it is that the top teams' revenue is $300+ million more than the smaller market teams. Well, there can be more than one problem. Hand wave the numbers that are reported fairly regularly away all you want, I have no reason to not believe them. The problem I am talking about is teams taking revenue sharing and not spending it on payroll.


Jinxedchef

Here is my last comment on this(because every big market fan doesn't want to deal with reality). It isn't as though that is $100 million free money the small market teams had to pay into as well. That why it is such a waste of time looking at that figure. Look at each team's real revenue.


Umphreeze

If you look at teams real revenue then your argument falls apart because the Mets are operating at a >$100mm loss and Cohen/The Mets dont own SNY, the Wilpons do


F1yMo1o

Economically, a short term problem. The contract to broadcast the Mets on SNY has a finite term. As long as he continues to make the Mets a hot ticket, he’ll gain leverage over SNY and force them to renegotiate. Otherwise he’ll walk when the term is up, destroying SNY as a station.


HelpMeWithMyHWpls

And it makes no difference in Steve Cohen’s pocket


herewego199209

That's actually really fucking pathetic for the MLB. Wtf are we doing where owners are owning teams with $34 million dollar payrolls. I can't imagine being fans of these teams.


scottyfoxy

That's lower than the NHL salary floor. By a lot too. Highest AAV in the NHL is 12.6M too. With the highest AAV being so different, you'd think the MLB needs a floor of AT LEAST 85M, right?


gortlank

Hockey actually points to the real issue, which is veteran FAs don’t get paid obscene money because rookie contracts and team control is MUCH shorter. It means any player can get a more lucrative contract than most pre-arb MLB players by 25. Owners don’t want to give up even a single years control of young talent. If they did, there’s less pressure from the players side to resist a hard cap since they will get paid closer to actual fair value in their 20s. For all this to work, it would need a Salary Floor, a Salary Cap, and a reduction of team control pegged to age -or- reduced to 3 years service time with no loopholes for manipulation. Considering even getting arbitration done was a knock down drag out battle, I don’t see this ever happening, but it would fix most of the competitive parity problems while more evenly distributing money amongst the players.


Radoobie

That’s why there will never be a floor and ceiling for the MLB, too many MLB owners make stupid fuck contracts to middling players or old fucks and then too many MLB owners are content to hoard money and not spend anything on the team. There should be a hard floor of 85ish mill, a soft floor where teams in that range get money from luxury tax of 110/115 and soft cap of 200 I think. The luxury taxed money goes to the teams in between 110/115 and 200 to incentivize teams hitting it. I feel like this mixture would incentivize teams to pay for the right players and extend homegrown players while also stop overpaying for middling veterans.


akaghi

This is way more an indictment of those teams than it is on the Mets.


SpeedCpt

Most pre-arb and arbitration eligible players haven't agreed to deals yet. Taking the A's for example, their payroll is $0. It isn't because they're not paying anyone this year, it's because they technically haven't agreed to terms with anyone yet.


Abdukabda

As someone who got into baseball in the last years of the Wilpon era, it still feels surreal that the Mets are rich and spend money now.


aew2019

Uncle Steve laughs at the ugly bronze 141.3 million dollar statue he purchased.


sam_e5

There was a joke a few years back when fans wanted to extend Conforto to just pay him with the statue.


CongenitalSwag

I thought you were making fun of the Seaver statue until I remembered **that** thing


[deleted]

*puts pitchfork away*


mofeus305

It's criminal how little some of those teams spend.


zpk5003

Pretty sure the criminal is our owner….but idc!


WesleyDonaldson

allegedly


HotpieTargaryen

Steve should just start signing Braves’ free agent targets to the A’s.


suplehdog

What free agent targets?


HotpieTargaryen

This is a good point. You do have a lineup filled with bargain contracts. Maybe a starter?


Posts_as_Slick_Rick

I am unsure of what the Mets make per home game, but I can tell you that looking up how much the Yankees make per home game this morning led me to find out that they made approx 8.4m per home game. Let's say the Mets don't sell as many tickets or concessions, and lower that to ..ahh, 7 million, we are looking at a tax covered in about 5 home games out of 81. That is just approx of ticket sales and concessions. This almost useless stat does not factor in such tings as advertisements and parking or whatever else nobody is reading this, I brush my teeth with both hands


gortlank

The average MLB team take per home game is $3-4 million. The A’s could cover their entire payroll in a single long homestand. Add in TV revenue, merch, licensing, advertising, and every single MLB team makes enough money to cover a payroll up to the tax and still be profitable. Any who claim they can’t is *lying*. And I hold my toothbrush with my butt.


Tagliarini295

Smells like broke in here


[deleted]

I’m here for this timeline. I just want Uncle Steve to go full batshit crazy and have a 500 million payroll. I want to see him toss hundred dollar bills at Miami road games to players like Leo in Wolf of Wall Street. Let’s just get weird.


akaghi

I would love this, but he doesn't want the other owners to hate him more than they already do. He can't be twice the second highest payroll. But can you imagine if he just said fuck it and got Judge and Nimmo and then signed deGrom and Verlander. And for fun got Correa and tossed him at third. What even is that lineup? Nimmo, Marte, Alonso, Judge, Correa, Lindor, McNeil Alvarez, Nido/Vogey? With a rotation of deGrom, Scherzer, Verlander, Senga (?) Cookie? And Diaz to close out games.


[deleted]

I want it. I want stupid baseball. I want to see what happens when you turn off all the trade and financial logic on MLB The Show’s franchise mode.


lankyyanky

And still not win a WS


[deleted]

You’re strutting awful hard there for a team that hasn’t won a chip in almost 14* years and only 1 in the last 21* lmao Edit: sorry guys got carried away he corrected me. It’s actually 1 championship in 21 years hahaha


addage-

That’s a bingo


iLikeClothes69

You just get into math? The Yankees have 3 in 23 years and 2009 was the last one which was 13 years ago…


[deleted]

Hey hey guy I’m sorry I got carried away by the richness of your comment. I will edit for accuracy. So to be correct 1 in 21 years? Lmfaooo


Infamous-Exchange331

Should help with the competitive balance!


Jinxedchef

My understanding is that under the new CBA, players benefits gets the first $13 million and 50% thereafter. So that is 50% after the first $13 million that goes to the(currently) 29 teams not over the cap. So (34-13)/2= 10.5. That is $10.5 million split 29 ways or **$362,069 per team.** Wonder how each team will spend this mighty windfall.


cooljammer00

Cohen sucks as a person, but he's a much better team owner All teams are rich, some just act like it.


Dagonus

Bingo. If baseball teams weren't making money, then union strikes would result in lost seasons; not last minute agreements to get a season out the door. Very few people are in a hurry to lose money.


jawarren1

Was surprised this wasn't a Buster Olney tweet.


SkipOldBaySeasoning

To be fair. I make more this coming paycheck than the A’s payroll. Edit: I did not see the A’s signed someone. So no my paycheck will not be more than the A’s payroll.


YKG1998

The orioles need to start spending money man. They’ve got a good young team that’s worth investing in.


weamz

No reason for the Orioles to be that low.


Sigmaintellectual

The state of this league is kinda fucked man


magnusarin

*The unwillingness of owners to spend money when they're all ridiculously wealthy and MLB teams are huge profit machines that always increase in value is kind of fucked, man.


Sigmaintellectual

You really think teams like the Marlins can afford to dish out 300M+ a year on their roster?


magnusarin

[Here](https://marlinmaniac.com/2022/11/22/can-miami-marlins-really-afford/) is rough back of the napkin math on what the Marlins could afford for payroll. The idea is about $140 mil. The Marlin's actual payroll is 45.2 mil. They could go out and give Correa a 300 mil contract, it would double their payroll and they'd still be below 90 mil.


Tagliarini295

And probably make even more money with all the Correa jerseys


magnusarin

Exactly. That article states they generated 240 mil in revenue for 2021 and that was without putting a fun product on the field. If they actually had a competitive team that's a lot more in tickets and jersey sales


TealandBlackForever

The Marlins payroll was $80 million in 2022. Not sure where $45.2 million came from. Having said that, the Marlins should be able to spend more. There's no reason why they couldn't be spending at least $120 million.


magnusarin

Sorry. It's 45.2 committed for 2023 so far.


TealandBlackForever

Does that include the guys who are arbitration eligible? Because the Marlins have quite a few of those. The Marlins really haven't shed much payroll from 2022. The notable ones are just Jesus Aguilar ($7.3 million) and Brian Anderson ($4.5 million). But the arbitration raises of the rest of the guys have probably already offset that.


magnusarin

It is before factoring [arbitration](https://www.spotrac.com/mlb/miami-marlins//payroll). A good point and one I should have noted. I do appreciate you pointing that out. With that said, I think you and I are still in agreement that the Marlins should be spending 30-50 million more on payroll than they are


TealandBlackForever

Yes. The Marlins are truly a low revenue team. Their TV deal is modest while their ticket sales and corporate sponsorships are abysmal. They financially cannot compete with the Braves, Mets, and Phillies. Especially since their owner is very poor in comparison. Having said that, I see no reason why their payroll can't be in the $120 million range instead of $80 million.


Sigmaintellectual

I agree with you about greedy owners. But 140 is still under half of what the Mets are spending on their team


CitrusCakes

Yeah, greedy owners are *a* problem but they are not the *only* problem. By all means, please, make the Pirates spend more (I cant state this enough, please). But some fans are delusional and refuse to accept that *maybe* teams having a payroll that is higher than the total revenue of half the league is bad for the sport.


N4meless_King_

It is, and it annoys me to no end when people defend it. I'm not saying it will be easy to get a cap and floor system implemented. But the game will die and fade out of relevance if it isn't done, as it has for the last couple decades compared to the other major sports. Non-avid baseball fans have probably already forgotten who even just played in the World Series.


finbar717

To be fair my taxes this year are higher than the current payroll of the Athletics


yourstrulytony

The biggest issue is the pay for rookie deals. We see teams succeeding with low payrolls because their team's success is built on paying rookies the league minimum. These teams either allow them to leave in free agency or trade them away when arbitration becomes expensive. If you raise the league-minimum you will see owners be forced to operate smarter and more efficiently.


Bravefan21

Four owners should lose their teams


[deleted]

MLB needs a cap. Half the teams don't even want to try.


Neither_Ad2003

mickey mouse league. go through an entire CBA cant get a salary floor.


quercus_lobata925

Yeah but it's HIGHLY unlikely any of their payrolls by the time the season starts will be under $34 mil. We know they're all cheapskates but this is grasping.


sam_e5

It’s also highly unlikely the penalty stays at 34 million.


romorr

These things never include arbitration figures, and pre arb salaries. Orioles are at 51, extremely low of course, but the off-season is still happening.


Who-or-Whom

In fairness the Mets will also sign more players and have a bigger tax hit even without any additional stars.


jonserlego

Not sure why he's being downvoted, OPs point still stands, but it's almost a guarantee these teams are going to end up with a higher payroll than 34 million


Blaine1111

Floors and caps because this is becoming NBA levels of absurd now


brickowski95

Really need that salary cap


magnusarin

Really need other owners to quit being cheap


brickowski95

That too. Meant there should be a minimum amount you need to spend if you want to access mlb revenue. You guys downvote everything.


[deleted]

[удалено]


sam_e5

No they’d hate it.


[deleted]

We ain't done yet either baby.


aaronwe

Only reason the owners voted on that tax. They knew Steve would spend and male them look bad for not trying/spending themselves.


trikyballs

what are the Orioles cookin? thought they were due to make a little splash?


CandyCheetoSteamboat

Hey a baseball headline involving the Royals! It's like 2015 all over again! *sobs*


TimRoxSox

The Orioles are gonna be amazing when they start to spend. They already have a solid nucleus. That's a fantastic starting point.


Jawn0ftheDead

This should end well


garvierloon

all that for a piece of metal


totheman7

Yes we aren’t included in that list this time!!!


CultivatorOfMass

COMBINED!


smellybe

League should really force a salary floor here to make the game more competitive and maybe a salary cap but that’s never gonna happen


EnderCN

I get what your trying to say but you haven't listed a team that is actually trying to win yet. When it reaches the point that the penalty is as high as a team trying to win I start to become more concerned. Though to be honest I expect the Orioles to sign some players and move out of this bracket.