Discussion in 'PatsFans.com - Patriots Fan Forum' started by Disco Volante, Feb 28, 2009.
Curran: No reason explains why Pats settled for so little
6. The franchise is in an uncomfortable financial position because of the economic crisis, their exposure in the auction-rate bond market and their investment and development in Patriot Place, a huge outdoor mall connected to Gillette Stadium and had no stomach for running the risk of getting stuck with Cassel. "
Its on propery craft owns and hosptial (admin building), hotel and cinema have long term leases in place.. Plus he has a nice cushy tax exemtion from Foxboro.. MONEY is not an issue for the Krafts.. MY GOD
Money's an issue for everyone right now.
I'm also getting tired of the "economy crisis" card as well. This does not apply to the NFL, NBA or MLB. Fans are going to find a way, even in a ****ty economy, to spend their money on their favorite teams. The Pats are the most successful franchises in the NFL, so money should never be an issue.
hahhahaha.. I'm sorry I disagree with you 100%.. The common joe or the rich people are.. But WEALTHY people like the Krafts, Trumps, and Gates don't sweat this stuff.. Its just a market trend that will be over in around 2 or so years..
IN the grand scheme of things.. How much do you think 20 million dollars is worth to Kraft?? Nothing.. Its chump change.. His empire is worth more than 1 billion dollars..
If the economy effected these owners, you wouldn't see these ridiculous contracts..
Bullshyt. All these owners are affected by the crisis - just like any businessmen, their net worth isn't solely tied up in the sports economy, which is besides the point, b/c sports isn't going to be insulated from this depression either.
Other than that there was nothing more they could get.
I like Cassel, but to compare him to Jared Allen, a perennial Pro Bowler and bona fide superstar is ridiculous. Then he goes on to point out the players picked at the 34 spot since 1998. No superstars (Chris Snee is one of the top 3 guards in the league, in fact I think I'd take only Mankins over him), some busts (Jacquez Green and Chris Terry, I suppose?).
People are acting like Cassel was going to be a contributing member to the team in 2009. He was going to be a backup quarterback. The contributions Vrabel and Cassel would have made must be weighed against the contributions the $20M in cap space that was freed by getting rid of them. Extending Wilfork alone will probably be worth both of those players, to say nothing of a little more space to potentially grab a Bodden or someone else. Plus whoever is taken with the #34 pick.
Wrong, see above post..
And just to throw this in .. Look at what Dallas and the Jets have done for PSL..
Plus call up and see if the waiting list is that much shorter for the pats..
OK...I'll take your word for it...
Robert Kraft - Wikipedia, the free encyclopedia
The Patriots is not the only source of Kraft's worth. Look at the other things he is invested in and tell me he's not affected by the economy.
You do realize that the cap is not the place to save money because of bad outside business dealings right? We have to spend at least 90% of it anyway, according to the CBA.
To be fair, much of the rest of his portfolio is only indirectly affected by the economic downswing, and will be perfectly fine during the market flux. It's not like he owns a bank or anything. The Patriots and the rest of the NFL also made plenty of money last year. The salary cap went up again; in the NHL and NBA, it's looking like it'll go down next year.
Has nothing to do with my point. I was merely pointing out that I'm sure the Krafts are not exactly pumped about the economy right now.
wow.. Where to start.. I guess your not in the financial scope of how Diversifying is the way to go.. Or the fact that its the HOUSING crisis.. not the COMMERCIAL REAL ESTATE CRISIS.. He owns property, IE in foxboro, he doesn't pay any taxes on.. And just an FYI, he doesn't pay for most of the help on game days.. Its volunteer or paid by the local and state..
paper company.. oh god.. Where to go from there
Should I go on?? Seriously dude.. The wealthy live by a different set of rules.. I own an apartment complex and I will never have it taken from me.. Cause its rented out at low cost so anyone can live there.. Perfect retirement plan for me (not in a union).. This crisis doesn't effect me one bit..
Assets in many different forms are worth a lot less now than they were before this downturn. All I'm trying to say is that Kraft is affected by this as well.
LOL. Honestly, I thought I was talking to someone in their mid-teens on the other side here. It frightens me to think you own a plant, let alone an apartment complex. I'm glad you have everything figured out.
Yes, Probably on some level... but it has nothing to do with paying his players......As you infered.
Short term view.. Rich peopel buy assets, poor people buy liabilities.. its like the 401k crap going on.. I'm 35.. It doesn't effect me because in the long run it will work out.. Reason why i'm throwin more money into it.. Its a cycle.. Wealthy people like the Krafts assets are not effected.. Maybe there quarterly reports this month but in the overall scheme, he's probably buying more..
ANd if this economy was hurting NFL owners.. WHO THE HELL WOULD BE THE 1st one not to spend money and sell the team.. THE FORDS.. Hell, that family has killed american cars and has gotten help for you and i.. You think the fords are hurting for money.. They have enough money stashed away to buy everyone a house..
I guess that is what seperates you from me.. You think your talking to a teenager but in reality your talking to someone highly educated that understands how the financial market works.. Read RICH DAD, POOR DAD.. its an eye opener..
That apartment complex is going to come in handy in 20 years when I'm kicking back retired
Separate names with a comma.