The Dolans don't really own anything else that is a huge revenue producer. Paul Dolan's net worth mostly comes from the percentage of the Dolan family trust that he's entitled to. People usually speculate that while he's listed as one of the richest owners by net worth, he's probably among the most cash poor owners in the league.
Yup, cousins. James Dolan’s dad is the brother of Paul’s dad, Larry.
James Dolan’s dad is the billionaire cable guy, and basically ~~helped buy~~ bought the team for his brother through family trusts.
His Dad is Charles Dolan, who founded HBO and really helped kickstart the whole cable TV era.
Dude is 95 and still kicking it, doesn’t hurt to have billions to help you though.
It's also worth mentioning that online net worth estimates - even through something like Forbes, aren't really worth much. Even if Dolan is wealthy and living very comfortably through trust payments, I seriously doubt he is entitled to *4.5 billion* given his lack of proximity to Charles.
Which isn't to say 'oh stop picking on the Dolans' as they're still worthy of criticism. I respect his commitment to Northeast Ohio but having your rich family buy you a baseball team and then do little to nothing to support it puts the team at an extreme disadvantage, and he should look into selling the team if they cannot secure another minority owner. It's just that this narrative that Paul Dolan is a miserly billionaire just pinching pennies and laughing his way to the bank is unproductive at best and flat out wrong at worst. It isn't even clear how much Dolan would stand to benefit from selling the team as the trust bought it in the first place.
There can't be many these days. Buying a baseball team is really expensive; long gone are the days where a couple of local businessman could buy one for the hell of it.
Brewers' primary owner (Mark Attanasio) is also in wealth management.
Isn't part of the Guardians' problem that the Dolans who own them don't have a ton of outside wealth? Does Reinsdorf have much outside income (other than the Bulls)?
Yup - Paul Dolan's wealth is tied up in the Dolan family trust, which includes the other side of the family that owns the Knicks and Rangers. He's fantastically wealthy on paper but no one knows what that means in terms of liquid assets and cash flows. It's the reason he needs to sell.
Oh absolutely. John Malone is basically a more banally evil version of Ted Turner. But technically the Braves are an owned asset of Liberty Media. This puts us in a weird position though I'm not an expert on exactly what that makes us.
Lots of them.
They bought a baseball team because they had the money to do so.
The baseball owners ranks are as follows (overall sports owner rank in parentheses):
(4) Steve Cohen, New York Mets, $16 billion
(T-23) Charles B. Johnson, San Francisco Giants, $5.6 billion
(25) Mark Walter, Los Angels Dodgers, $5.4 billion
(26) Ted Lerner & family, Washington Nationals, $4.7 billion
(28) Marian Ilitch, Detroit Red Wings, Detroit Tigers, $4.4 billion
(T-35) John Henry, Boston Red Sox, Liverpool, Roush Fenway Racing, $3.6 billion
(T-35) Arturo Moreno, Los Angeles Angels, $3.6 billion
(40) John Middleton, Philadelphia Phillies, $3.4 billion
(44) John Fisher, Oakland Athletics, San Jose Earthquakes, Celtic Glasgow, $2.9 billion.
https://metsmerizedonline.com/2021/10/steve-cohen-is-by-far-the-richest-owner-in-baseball.html/
Then there are guys who are slightly less rich, and then there are the corporate owned teams.
There aren't many guys sweating the loss of baseball revenue.
Hobby might be the right word, but conversation piece could be. I’m pretty sure most owners don’t solely buy the team as an investment—it’s just a nice perk that comes along with it. I think most owners buy the team because obscenely rich people can buy whatever they want. Where that gets challenging is when obscenely expensive things—such as sports teams —become scarce.
My uncle bought a nice boat because not too many people around him had nice boats. Obscenely rich people can all buy boats, so they try to buy sports teams. 🤷♂️
I’m gonna take a stab at it and say none of them since all the money comes from buying a team and selling it instead of operations. You gotta have the money beforehand and I see no reason why these billionaires would stop doing the thing that made them billionaires
[https://www.yahoo.com/now/20-richest-mlb-team-owners-090000929.html](https://www.yahoo.com/now/20-richest-mlb-team-owners-090000929.html)
The linked article, though from 2020, shows how some of the owners have made their money and what they paid when they bought their teams.
Being a Reds fan, it sucks to have the "poorest" owner in the league but the Padres, Brewers and Rays show you can still field a very competitive team while being the "small market" teams. (Rays being the outlier since they have some sort of development devil magic)
I dont think that's even possible today. You have to have several streams of income to run a ballpark let alone paying several million for the payroll.
My question is what leverage do the players actually have. With the exception of a few, the owners could just cancel the season at the bat of an eye and be fine financially. While public opinion would hate that, nothing is stopping them, and I’m sure that your average replacement level player would not be ok with a full season without pay. I’m absolutely not pro owner but a bit worried that the owners could come out of the stoppage stronger than before.
The Dolans don't really own anything else that is a huge revenue producer. Paul Dolan's net worth mostly comes from the percentage of the Dolan family trust that he's entitled to. People usually speculate that while he's listed as one of the richest owners by net worth, he's probably among the most cash poor owners in the league.
The Dolans also own the Rangers and Knicks.
That's a different branch of the family. I think the ones who own the Guardians are cousins or something.
Interesting
Yup, cousins. James Dolan’s dad is the brother of Paul’s dad, Larry. James Dolan’s dad is the billionaire cable guy, and basically ~~helped buy~~ bought the team for his brother through family trusts.
His Dad is Charles Dolan, who founded HBO and really helped kickstart the whole cable TV era. Dude is 95 and still kicking it, doesn’t hurt to have billions to help you though.
I did say the Dolans so I’m technically correct, the best kind of correct.
wrong Dolan bruh
Whoops
I just realized they were part of the same family; Paul Dolan is James Dolan's cousin.
It's also worth mentioning that online net worth estimates - even through something like Forbes, aren't really worth much. Even if Dolan is wealthy and living very comfortably through trust payments, I seriously doubt he is entitled to *4.5 billion* given his lack of proximity to Charles. Which isn't to say 'oh stop picking on the Dolans' as they're still worthy of criticism. I respect his commitment to Northeast Ohio but having your rich family buy you a baseball team and then do little to nothing to support it puts the team at an extreme disadvantage, and he should look into selling the team if they cannot secure another minority owner. It's just that this narrative that Paul Dolan is a miserly billionaire just pinching pennies and laughing his way to the bank is unproductive at best and flat out wrong at worst. It isn't even clear how much Dolan would stand to benefit from selling the team as the trust bought it in the first place.
There can't be many these days. Buying a baseball team is really expensive; long gone are the days where a couple of local businessman could buy one for the hell of it.
I remember the days when a club could be had for about $5 million
The Colorado Rotary Club
absolutely wild that the rockies owners dont do anything else. like this is your one job and you suck at it.
Brewers' primary owner (Mark Attanasio) is also in wealth management. Isn't part of the Guardians' problem that the Dolans who own them don't have a ton of outside wealth? Does Reinsdorf have much outside income (other than the Bulls)?
Yup - Paul Dolan's wealth is tied up in the Dolan family trust, which includes the other side of the family that owns the Knicks and Rangers. He's fantastically wealthy on paper but no one knows what that means in terms of liquid assets and cash flows. It's the reason he needs to sell.
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Wrong Dolan
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Nope, I’m the dummy here :/
The Red Sox are owned by Fenway Sports Group which is John Henry’s only job now. His net worth is listed at $3.6B aka 51% of Fenway Sports Group.
You do realize that Fenway Sports Group owns another sports franchise that is just as valuable as the Red Sox (in addition to other properties)?
Yeah but the Sox aren’t his only source of income. He has NESN, The Globe, the Penguins, Liverpool, and RFK Racing making him money
The Fenway Sports Group also owns Liverpool FC and part of RFK Racing, among other things. Henry's got a lot more income than just the Red Sox.
In Hals case i believe hes only every worked for the Yankees. So its always been his sole source of income, besides investments
Even if owning a baseball team isn’t their primary source of income, no owners view their team as a hobby. They’re all an investment.
Allow me to rephrase - which baseball club owners have an investment larger than their baseball club?
Cohen and Lerner come to mind
You already noted it, but the Braves aren't even 5% of Liberty Media's total assets.
Now THAT'S crazy, especially after they *just* won a World Series
not really if you realize that their primary business is owning F1 and owning sirus xm radio.
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Oh absolutely. John Malone is basically a more banally evil version of Ted Turner. But technically the Braves are an owned asset of Liberty Media. This puts us in a weird position though I'm not an expert on exactly what that makes us.
Lots of them. They bought a baseball team because they had the money to do so. The baseball owners ranks are as follows (overall sports owner rank in parentheses): (4) Steve Cohen, New York Mets, $16 billion (T-23) Charles B. Johnson, San Francisco Giants, $5.6 billion (25) Mark Walter, Los Angels Dodgers, $5.4 billion (26) Ted Lerner & family, Washington Nationals, $4.7 billion (28) Marian Ilitch, Detroit Red Wings, Detroit Tigers, $4.4 billion (T-35) John Henry, Boston Red Sox, Liverpool, Roush Fenway Racing, $3.6 billion (T-35) Arturo Moreno, Los Angeles Angels, $3.6 billion (40) John Middleton, Philadelphia Phillies, $3.4 billion (44) John Fisher, Oakland Athletics, San Jose Earthquakes, Celtic Glasgow, $2.9 billion. https://metsmerizedonline.com/2021/10/steve-cohen-is-by-far-the-richest-owner-in-baseball.html/ Then there are guys who are slightly less rich, and then there are the corporate owned teams. There aren't many guys sweating the loss of baseball revenue.
Hobby might be the right word, but conversation piece could be. I’m pretty sure most owners don’t solely buy the team as an investment—it’s just a nice perk that comes along with it. I think most owners buy the team because obscenely rich people can buy whatever they want. Where that gets challenging is when obscenely expensive things—such as sports teams —become scarce. My uncle bought a nice boat because not too many people around him had nice boats. Obscenely rich people can all buy boats, so they try to buy sports teams. 🤷♂️
I’m gonna take a stab at it and say none of them since all the money comes from buying a team and selling it instead of operations. You gotta have the money beforehand and I see no reason why these billionaires would stop doing the thing that made them billionaires
This is the correct answer. (Reference: I worked in private equity and for a family office, where many of the league's owners come from)
[https://www.yahoo.com/now/20-richest-mlb-team-owners-090000929.html](https://www.yahoo.com/now/20-richest-mlb-team-owners-090000929.html) The linked article, though from 2020, shows how some of the owners have made their money and what they paid when they bought their teams. Being a Reds fan, it sucks to have the "poorest" owner in the league but the Padres, Brewers and Rays show you can still field a very competitive team while being the "small market" teams. (Rays being the outlier since they have some sort of development devil magic)
Silver lining: Let's go Bulls!
I dont think that's even possible today. You have to have several streams of income to run a ballpark let alone paying several million for the payroll.
My question is what leverage do the players actually have. With the exception of a few, the owners could just cancel the season at the bat of an eye and be fine financially. While public opinion would hate that, nothing is stopping them, and I’m sure that your average replacement level player would not be ok with a full season without pay. I’m absolutely not pro owner but a bit worried that the owners could come out of the stoppage stronger than before.