00:00Does any of this $2.6 billion mean that Hal Steinbrenner can now say he goes to Brian Cashman and
00:07says, hey, go get this player, Player X, or would it be a mistake for fans to look at this
00:11deal and assume it means a bigger Major League payroll?
00:14I don't think that's an ideal way of looking at it because everything that has been described to me about
00:19private equity in sports is that they fill a couple different buckets.
00:22Stadium renovation is one of them.
00:24Liquidity is another.
00:26Debt relief.
00:26I don't know of any private equity firm across American sports that is making decisions for teams, whether that be
00:34on the free agency side or on the business side as well.
00:37And the money often is not going to the free agency.
00:42That's not the way the business is used.
00:44Otherwise, it would create an imbalance across sports because as we just saw, this is a $2.6 billion deal.
00:50Imagine how much money they could pay free agents with that sort of capital.
Comments