Texsox Posted September 29, 2004 Share Posted September 29, 2004 (edited) Yeah that was a fun waste of an afternoon... So what are we going to argue about today? Baseball teams as not for profit? OK you and I will be captains, I got 4E, your pick Edited September 29, 2004 by Texsox Quote Link to comment Share on other sites More sharing options...
DBAHO Posted September 29, 2004 Share Posted September 29, 2004 Yeah that was a fun waste of an afternoon... So what are we going to argue about today? Or a fun waste of a late evening, at least for the early part of the thread for me. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 IMHO a case could be made that any team that receives sizable tax breaks in the form of public stadiums, tax abatements, etc. should be run as a not for profit. Not for profits, can still turn a small percentage profit. And looking at the numbers that the Sox submit to MLB, I think they would be within those perameters. Maybe our accounting experts can expound on the GAAP ramifications here. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 Baseball teams as not for profit? OK you and I will be captains, I got 4E, your pick If you got first pick, I get the next two picks! I take Steff and babybearhater. Quote Link to comment Share on other sites More sharing options...
Texsox Posted September 29, 2004 Share Posted September 29, 2004 Not for profits, can still turn a small percentage profit. And looking at the numbers that the Sox submit to MLB, I think they would be within those perameters. Maybe our accounting experts can expound on the GAAP ramifications here. Is it considered profit or retained earnings? I thought the so called profit was primarily operating dollars. I don't think not for profits (charities are different) have a mechanism to distribute "profits" as such. Perhaps in the form of year end bonuses?? Quote Link to comment Share on other sites More sharing options...
Steff Posted September 29, 2004 Share Posted September 29, 2004 If you got first pick, I get the next two picks! I take Steff and babybearhater. Step right up boys... I've had a bad morning... Quote Link to comment Share on other sites More sharing options...
israel4ever Posted September 29, 2004 Share Posted September 29, 2004 This "not-for-profit" concept is very interesting. Since fans have more than a passing interest in the success of their team(s), ball clubs shouldn't be run in the same way as corporations are operated. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 Is it considered profit or retained earnings? I thought the so called profit was primarily operating dollars. I don't think not for profits (charities are different) have a mechanism to distribute "profits" as such. Perhaps in the form of year end bonuses?? Which is pretty much what most teams do. Very few actually take profits out. Most roll their profits back into the team as capital. Being as cash intensive of a business as it is, I can't imagine 90% of teams being successful without it. Quote Link to comment Share on other sites More sharing options...
DBAHO Posted September 29, 2004 Share Posted September 29, 2004 Is it considered profit or retained earnings? I thought the so called profit was primarily operating dollars. I don't think not for profits (charities are different) have a mechanism to distribute "profits" as such. Perhaps in the form of year end bonuses?? You'd have your gross profit and your net profit I'd say, but I'm only studying Accounting in College. Steff would probably be the person to ask about this subject. But it would be interesting to see what the operating revenue and expenses for the Sox yearly were for sure. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 Step right up boys... I've had a bad morning... Excellent Quote Link to comment Share on other sites More sharing options...
israel4ever Posted September 29, 2004 Share Posted September 29, 2004 Step right up boys... I've had a bad morning... I don't want to go toe-to-toe with Steff...she is dangerous! Quote Link to comment Share on other sites More sharing options...
Steff Posted September 29, 2004 Share Posted September 29, 2004 Which is pretty much what most teams do. Very few actually take profits out. Most roll their profits back into the team as capital. Being as cash intensive of a business as it is, I can't imagine 90% of teams being successful without it. The Sox included. Accoring to Forbes, the Sox made 12 million in '03...anyone want to guess how much the '04 payroll went up...? :rolly Quote Link to comment Share on other sites More sharing options...
DBAHO Posted September 29, 2004 Share Posted September 29, 2004 Step right up boys... I've had a bad morning... I nominate anyone but me. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 This "not-for-profit" concept is very interesting. Since fans have more than a passing interest in the success of their team(s), ball clubs shouldn't be run in the same way as corporations are operated. Problem is as long as baseball has an anti-trust exemption, none of that matters. And that bothers me. As much public funding as goes into sports now a days, there needs to be more oversite, IMO. Quote Link to comment Share on other sites More sharing options...
Steff Posted September 29, 2004 Share Posted September 29, 2004 You'd have your gross profit and your net profit I'd say, but I'm only studying Accounting in College. Steff would probably be the person to ask about this subject. But it would be interesting to see what the operating revenue and expenses for the Sox yearly were for sure. That info will not be accessable for another month or so.. but I've got a request in for it. Quote Link to comment Share on other sites More sharing options...
israel4ever Posted September 29, 2004 Share Posted September 29, 2004 The Sox included. Accoring to Forbes, the Sox made 12 million in '03...anyone want to guess how much the '04 payroll went up...? :rolly Damn she's good! Quote Link to comment Share on other sites More sharing options...
DBAHO Posted September 29, 2004 Share Posted September 29, 2004 That info will not be accessable for another month or so.. but I've got a request in for it. Isn't it nice having networks you can count on. Appreciate all the financial effort there Steff. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 Damn she's good! That's my #1 draft pick. Now I just have to figure out a way to beat her in salary arbitration Quote Link to comment Share on other sites More sharing options...
Texsox Posted September 29, 2004 Share Posted September 29, 2004 Step right up boys... I've had a bad morning... Putting 2+2 together Steff said in the HoF Thread Doesn't being a moody PMS'ing female give me even a slight edge...?? post-4-1074910704.gif laugh.gif [/ducking for Mexico] actually I am heading to Mexico, anyone need anything? Fake Oakleys, Rolex, Viagra . . . Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 29, 2004 Share Posted September 29, 2004 Putting 2+2 together Steff said in the HoF Thread [/ducking for Mexico] actually I am heading to Mexico, anyone need anything? Fake Oakleys, Rolex, Viagra . . . Mas Tequila Quote Link to comment Share on other sites More sharing options...
israel4ever Posted September 29, 2004 Share Posted September 29, 2004 Putting 2+2 together Steff said in the HoF Thread [/ducking for Mexico] actually I am heading to Mexico, anyone need anything? Fake Oakleys, Rolex, Viagra . . . Buy yourself some Absinthe! The stuff tastes nasty as hell, but, what a buzz!!! Where are you going in Mexico? Quote Link to comment Share on other sites More sharing options...
Texsox Posted September 29, 2004 Share Posted September 29, 2004 Mas Tequila Don Julio tequilla is awesome. At $200 per bottle I don't have an opportunity to indulge very often. Imagine sipping smooth tequilla. For you ss, I think I can find a $3 bottle of mezcal with teh worm . . . Quote Link to comment Share on other sites More sharing options...
Steff Posted September 29, 2004 Share Posted September 29, 2004 Putting 2+2 together Steff said in the HoF Thread [/ducking for Mexico] actually I am heading to Mexico, anyone need anything? Fake Oakleys, Rolex, Viagra . . . LOL... actually, it's traffic again first.. then my idiot boss who sent me an email at 6:30 last night wanting to see me... not realizing that I had left for the day.. then b****ed at me cause I didn't come see him. :dips*** I'm a little closer to being fired this morning.. Quote Link to comment Share on other sites More sharing options...
Texsox Posted September 29, 2004 Share Posted September 29, 2004 Buy yourself some Absinthe! The stuff tastes nasty as hell, but, what a buzz!!! Where are you going in Mexico? Progresso, just across the border about :30 minutes from my house. Regular shopping trip, no big deal. Not much different than going to Milwaukee. Might drop into a dentist for the $7 cleaning. Quote Link to comment Share on other sites More sharing options...
DBAHO Posted September 29, 2004 Share Posted September 29, 2004 LOL... actually, it's traffic again first.. then my idiot boss who sent me an email at 6:30 last night wanting to see me... not realizing that I had left for the day.. then b****ed at me cause I didn't come see him. :dips*** I'm a little closer to being fired this morning.. It's things like that, that make me glad I'm in college, and don't have a full - time job. Quote Link to comment Share on other sites More sharing options...
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