Griffey v.24 or the thing that would not die

by dyspeptic on Aug 12, 2005 3:11 PM CDT

From the Sun TImes

"According to a source, New York Yankees general manager Brian Cashman has said his team would not put in a claim for Griffey if the Cincinnati Reds put him through the waivers process. The Yankees, who are in dire need of a center fielder, are the only playoff-caliber team that would seem to have the financial backing to stand behind a Griffey claim if the Reds decide they are willing to turn over the slugger and his hefty contract."

This smells fishy. Why wouldn't the Yankees do it? They need Griffey more tha the Sox.

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What they are saying

is that the Yankees are the only team who would possibly claim Griffey, though I think even that is unlikely. This would mean that should the Reds OK it, the Yanks would be on the hook for the entire gaudy contract.

Our situation is that we're hoping that nobody claims him, making him eligible to be traded to any team, with Cincy taking a bite out of that contract.

AIM: SouthSideCheat

by The Cheat on Aug 12, 2005 3:32 PM CDT reply actions

I understand that...

no one else wants to pick up his salary. But money doesn't seem to be the object in NY and their CFs suck. Does Bernie Baseball's legacy mean that much that they are willing to forego a guy who would upgrade their defense and might fly-out for 4 or 5 HRS in 6 weeks in the shrine?

I don't see the advantage to Cashman to saying he wouldn't. That's why it's fishy, at least in my twisted little mind. If he goes an waivers and the Yanks claim him, their bargaining power improves dramatically. The reds would have to pull him off or work out a deal with the Yanks:The sox deal is dead and the yanks can negotiate with the reds and get him without giving up as much.

Don't get me wrong, i do the deal, which is probably why I'm paranoid. As previously posted I want his bat and his glove and I think the disruption in a 6 week season is minimal.

Jacatta est

by dyspeptic on Aug 12, 2005 4:31 PM CDT up reply actions

He costs more for NYY

They're over the luxury tax, so not only would they have to pay his salary, they'd have to pay about an extra 40% too.

Cashman has said they're pretty much maxed out in terms of salary.

AIM: SouthSideCheat

by The Cheat on Aug 12, 2005 4:56 PM CDT up reply actions

Ding!

Money isn't an object...

.......until you've spent over $210 mil.

AIM: BrentBrookhouse

by Brent Brookhouse on Aug 12, 2005 9:25 PM CDT up reply actions

when your revenues

are 60% higher than anyone elses the rules are different.

alia iacta est - win now

by dyspeptic on Aug 13, 2005 1:38 AM CDT up reply actions

it isn't about the money

it's about strategy and need. the finances are secondary.

I did some research this am (with a whopper of hangover, I'll have you know) and here's what the finances look like.

Stadium operations (tickets and concessions) will exceed $200 million. (Think about the 4 million they're going to draw and the $90 boxes that make up the plurality of the seats) TV revenue is going to be about $100 million. Advertising (all advertising) and radio are not available but looking at some numbers from the past should put these numbers at $50mm. They own the stadium. (there's a great article in Baseball prospectus on how stadium construction is a deductible item in the luxury tax accounting and how all of baseball will bear a substanital amount of the cost of the new stadium.)

Simply put,the Yanks are financially healthy this year, big surprise, at this or a even higher salary structure. They can spend more if they want to.

Yes they've spent almost $200mm on salaries this year. That's a substantial investment but all existing costs are sunk costs. They don't matter when you have to make a calculation whether future spending will be appropriate. Do they need a centerfielder and another very good bat? Will it make it more likely they will succeed?

Sunk costs aside, It does look a lot worse if they don't go to the playoffs. Like bad enough to fire the GM.

Each playoff game at Yankee stadium generates $5mm in ticket revenue alone. If Griffey gets them into the playoffs, which I think it would, 2 home games pay for this year and most of next year's salary and luxury tax. And that's if they picked all his salary.

Which, as I a metioned earlier, is why I think Cashman is laying in the weeds. The scenario I laid puts the Reds in a corner and they get Griffey at a lower price.

Going to take a nap now

alia iacta est - win now

by dyspeptic on Aug 13, 2005 11:57 AM CDT reply actions