Mark Cuban to get into MLB?

[Galaxy]

http://news.com.com/Mark+Cuban+eyes+...3-5937178.html
Mark Cuban eyes Pittsburgh Pirates


Mark Cuban already owns a basketball team. Now, according to sources, he is interested in a baseball franchise.

Cuban, who owns the Dallas Mavericks of the National Basketball Association, is exploring an acquisition of his hometown Pittsburgh Pirates, sources said Friday.

One of the sources said that baseball is Cuban's sport of choice and had a baseball team been available in 2000, when he purchased the Mavericks for $285 million, he would have chosen the diamond over the hardwood.

A banking source said that any buyer would not be making the move for financial reasons, one reason why Cuban might be a perfect fit. This person valued the Pirates at around $225 million, about the same as the Milwaukee Brewers. The source added that the demographics aren't favorable to a new ownership group, and since Pittsburgh is a football town, the Pirates have a tougher time drawing fan interest than do the National Football League's Steelers.

Neither source could say how far along any negotiations might be, just that there is interest by Cuban in owning the team and interest from Pirates owner Kevin McClatchy in selling it.

The news comes during a flurry of merger and acquisition activity in baseball. On Thursday, Robert Castellini and a group of local businessmen acquired a 70 percent to 80 percent stake in the Cincinnati Reds for $270 million. And the auction for the Washington Nationals, which has been going on since 2003, should conclude within 10 days.

The Pirates have struggled on the field over the past 15 years. They haven't had a winning season since 1992 and McClatchy, a member of the family that controls publisher McClatchy Co., is either unwilling or cannot afford to pay top dollar to keep talent. Despite a new stadium, few fans attend Pirate games as the team routinely finds itself in last place in the National League Central division.

The Pirates ranked 27th in attendance among 30 major league teams this year, drawing just under 1.8 million fans. By contrast, the New York Yankees led the majors in attendance with nearly 4.1 million customers.

The banker said McClatchy has been potentially looking for a new owner, and the source has been hearing the news for around three months.

Cuban has previously said he would be interested in an ownership stake in the Pirates, should it become available. The usually accessible Cuban did not return e-mails on Thursday or Friday.

McClatchy acquired the team for $90 million through his investment vehicle, Pittsburgh Pirates Acquisition, serving as CEO and managing general partner. In gaining the team, McClatchy had to raise around $61 million, including $2 million from the parent company of the Pittsburgh Post-Gazette, and around $14 million from previous investors. The remaining $29 million arrived via debt inherited from the old owners.

With little television revenue and relatively low personal wealth, McClatchy's pockets simply may not be deep enough to be an owner.

Calls to the Pirates and McClatchy were not returned Friday.

Cuban made his fortune through his passion, sports. In an effort to follow his favorite college basketball team, he pioneered the concept of broadcasting live games and other events on the Internet. He named his company Broadcast.com and took advantage of the dot-com boom, selling Broadcast to Yahoo for $5.7 billion.

While Broadcast.com was his biggest success, Cuban also founded Micro Solutions in 1983, which he sold in the 1990s to CompuServe Interactive Services for $6 million. Cuban also owns HDNet, the first high-definition satellite network; is a partner in another venture, called 2929 Entertainment; and is an investor in independent film company Lions Gate Entertainment.

[Ksyrup]

That's not news. He was rebuffed a month or two ago by Pittsburgh. Maybe they are reconsidering, but at the time, they said they weren't interested.

[Galaxy]

Originally Posted by Ksyrup

That's not news. He was rebuffed a month or two ago by Pittsburgh. Maybe they are reconsidering, but at the time, they said they weren't interested.

Did not know that.

[Ksyrup]

I guess it was only a few weeks ago:


Mark Cuban interested in buying Pirates, but told team not for sale

Alan Robinson

Canadian Press

Tuesday, November 08, 2005


PITTSBURGH (AP) - Dallas Mavericks owner Mark Cuban is interested in buying his hometown Pittsburgh Pirates, but the ownership told him the team isn't for sale despite its ongoing streak of 13 consecutive losing seasons.

In an e-mail response to The Associated Press, Cuban said Monday he looked into buying the team recently but, "they told me they have no interest in selling." Cuban's interest in the team he grew up rooting for is well known, but this is the first time he has acknowledged wanting to buy the Pirates. Previously, he said he would look into acquiring a stake only if the Pirates were put up for sale or if acquiring a lesser share of the team would help keep it in Pittsburgh.

"The Pirates are not for sale," club vice-president Patty Paytas said, responding to Cuban's comment.

The Pirates were bought 10 years ago by a group assembled by newspaper heir Kevin McClatchy, the managing general partner. The largest investor is Wheeling, W.Va., newspaper publisher G. Ogden Nutting and his two sons, who were initially brought into the group by McClatchy in 1996 and have since acquired at least a 25-per cent stake of the 119-year-old franchise.

While McClatchy's group probably prevented the franchise from moving elsewhere and was successful in persuading lawmakers to build PNC Park, the team has had 10 consecutive losing seasons and only once has finished within five games of .500.

The Pirates had the third-lowest payroll in the majors last season and have declined to actively pursue upper-tier free agents, attempting instead to build with lower-priced prospects.

That probably wouldn't be the case under Cuban, a billionaire who has spent millions building the Mavericks into one of the NBA's top franchises, though they have yet to win an NBA title since he acquired them in 2000.

Cuban also attempted to buy into a Pittsburgh sports team before purchasing the Mavericks, talking with Mario Lemieux's ownership group as it was buying the NHL's then-bankrupt Pittsburgh Penguins in 1999. But the group wanted Lemieux to be the face and voice of the organization, and was unwilling to allow Cuban to play an active role in the team's day-to-day operations.

[Young Drachma]

They are dumb. The guy would be huge for them. Do they not remember what the Mavs were like BEFORE he got down there?

[Galaxy]

Originally Posted by Dark Cloud

They are dumb. The guy would be huge for them. Do they not remember what the Mavs were like BEFORE he got down there?

I just curious how good he would be in a small market with non-cap, when he took over Dallas which plays in a capped league and is a top market.

[dervack]

There was some hope here in Chicago months ago that if the Tribune company would ever be intrested in selling, that Cuban would be the type of Owner most Cubs fans would want.

[Pumpy Tudors]

I can tell you this much. If Mark Cuban did manage to get in with the Pirates, I'd make the 35-mile drive to PNC Park more often. I only went to one Pirates game this season (I didn't move here until August 1, but I still had plenty of chances), and it was all right. It's a shame that this beautiful ballpark doesn't get more fans. If Mark Cuban could manage some ideas to lure people to see the Bucs, though, I'm sure that I'd fall into his trap.

I guess it's not gonna happen, though, huh? Maybe I'll make it to two Pirates games next year. Maybe I won't.

[Young Drachma]

Originally Posted by Galaxy

I just curious how good he would be in a small market with non-cap, when he took over Dallas which plays in a capped league and is a top market.

He makes tons of bad choices in a capped league. Dallas wasn't a marquee market when he took it over tho, since they're in Cowboys country and the Stars were even better then them when they got there. Not that the Mavs have won anything yet, but..still, the aura is way different than in the green unis days.

[Swaggs]

There is a feeling among Pirates' fans that McClatchy will sell following this upcoming season. The two big indicators are that the Pirates have gotten rid of and extended very few long term contracts, and that season tickets are way up this season because of the All Star game being held in Pittsburgh, so value will be at an all-time high following this season.

[Jonathan Ezarik]

The source added that the demographics aren't favorable to a new ownership group, and since Pittsburgh is a football town, the Pirates have a tougher time drawing fan interest than do the National Football League's Steelers.

Bullshit. The Pirates don't draw fans because they suck. Early this year when they got to .500 everyone was talking about the Bucs. Games were sold out and people were excited. But then the Bucs went on a terrible losing spell and all hope and interest were gone. After 13 years of losing, can you blame them?

Pittsburgh might be a football town now, but that's beacause the Steelers win. If the Pirates ever get their act together and field a good team, they will get people to come to the games.