The owners in question that were unwilling to raise the luxury tax were Los Angeles Angels owner Arte Moreno, Cincinnati Reds owner Bob Castellini, Arizona Diamondbacks owner Ken Kendrick, and Detroit Tigers owner Chris Ilitch.
Many fans are quite confused by these owners’ odd views on such an important issue, and understandably so.
One fan on Twitter posted some numbers that showed the net worth of each of these owners and the estimated franchise value according to Forbes.
Team : owner's net worth : Forbes estimated franchise value
LAA : $3.6B : $2.025B
ARZ : $600M : $1.32B
CIN : $400M : $1.085B
DET : $4.4B : $1.26B https://t.co/6Uilci8RfE
— Daniel R. Epstein (@depstein1983) March 4, 2022
Unwilling To Spend
As you can see in the tweet, these owners’ net worth’s are pretty big, especially given that three of the teams are smaller market teams.
Their estimated franchise value is pretty high as well.
This only goes to show how unwilling to spend money several owners are and how they buy into the misconception that owning a baseball team is not profitable.
Why these owners believe that or even say it is confusing given the values shown in the tweet above.
Running a baseball team, or any sports teams for that matter is in fact quite profitable.
The problem is that several owners just do not care about winning and only care about keeping as much money in their pockets as possible, not sharing even an ounce of it with the players.
There just isn’t that spark with the owners right now.
They don’t seem to have the killer instinct to want to win and provide their fans with an impressive product on the field.
To them, it seems as if they just want to run their teams like a business.