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Although I’m just a common poster, BW, as a Cardinal fan since the early 50s I try not to waste anything.
With nearly every post (stats and obvious facts excluded) I treat them as IMO. Unless Mozeliak happens to stop by.
ps. Brian is the closest person to Mo that we have here.
14 – I also know Mo, and sometimes his opinions are wrong too. He’d be the first to admit that. None of us are perfect.
Yes, MO’s opinions are more important than ours by far. Especially because they affect the way the Cards conduct their business.
But I’m sure he would admit that his opinions on Leake, Cecil, Fowler, etc. were a bit askew.Not happening but…. Mo owes all Cardinalland an apology. Especially for the biggest blunder— Fowler’s contract.
Great idea. Have an employer publicly embarrass one of their employees over a matter that cannot be reversed, just to appease a segment of fans. After all, that would cause more good than harm, right? Right?
God bless all of you who are perfect in your job.
Even BDW, who may be one of the better owners in the history of the game and highly respected today by the other owners, missteps with his “profit” statement.
Probably a better thread for this and if it can be moved please do so.
There is an easy and legit explanation for BDW’s statement. You can look at the situation and say that his group invested $100 million and now profits maybe $50 million a year off that investment that now is worth $2.4 billion. Or you can look at as a $2.4 billion asset that only returns $50 million a year which in the scheme of things makes it not a very profitable business.
As a side question, does anyone know what % of the Cardinals the DeWitt’s actually own?
As a side question, does anyone know what % of the Cardinals the DeWitt’s actually own?
Obviously he has controlling interest, but I’ve read he is not a majority owner.
“Controlling interest” is when there is primary owner with more than 50%. My understanding is that DeWitt is “managing partner,” selected by the partners to represent them. MLB calls it the “control person”, the one designated to represent the team in league matters. DeWitt Jr. is also Chairman and CEO of the Cardinals.
Four DeWitts reportedly own shares – Bill and wife and their two sons, including team president Bill DeWitt III. But the percentages held by them and the other partners are not public record. I do recall reading somewhere at some time the same thing that Euro noted, but I could not say if that is Jr. only or his family together. It may be kind of murky, like profitability. 😉
The managing partner means nothing in terms of ownership percentage. Jeter owns just 4% of the Marlins and I am pretty sure he is the managing partner. Pat Croce used to be the managing partner of the 76ets but only owned 2%.
CC said:
The managing partner means nothing in terms of ownership percentage.
You are absolutely right. That is not what I intended to suggest. I updated the earlier post to clarify.
Controlling interest does not necessarily require 51% ownership. It depends on the business arrangement of the corporation/partnership and if decision making authority has been ceded to a controlling owner who is not a majority owner.
Here is a link to a Goold Q&A where he addresses DeWitt’s arrangement.
I know some of BDW’s St. Louis investors, and have met a number of his investors from Cincinnati. When he led the charge to acquire the Cardinals, I doubt if he put up more than 50% of the acquisition equity capital.
Several other St. Louis investors were instrumental on the point in getting the Cardinals acquisition done – Drew Baur, Fred Hanser, and David Pratt. Drew handled the banking. Fred handled the legal aspects. You can google all 3 of them. In Cincinnati, the conduit for equity capital was Mercer Reynolds. You can google him too.
In addition to the immediate DeWitt family, there are currently at least 14 additional investors in the team.
Andrew N. Baur Family
Stephen F. Brauer
James C. Davis
Frederick O. Hanser
G. Watts Humphrey Jr.
Nick D. Kladis Family
Donna DeWitt Lambert
Michael McDonnell
David C. Pratt
Michael E. Pulitzer
Craig R. Stapleton
Mrs. Richard H. Sutphin
Dudley S. Taft
John K. Wallace Jr.Thanks, Brian. Bill is obviously the most visible of the group, but when people talk about Cardinal ownership, they should understand that he has obligations to the other members of the LLC. He may be the Managing Partner, but as said before, he may very well not be a 50%+ member.
Bill Dewitt had a home in Cincinnati, and then also bought one in St. Louis. He has since sold his St. Louis home.
He, Drew Baur, and Fred Hanser all went to the same high school in St. Louis.
Some of the names on BW’s list are from Cincinnati.
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