Hey team! There was a nice, informative discussion after a prior post about the recently announced 10% investment in the "Giants" by a a private equity firm. Unfortunately for us Giants fans, based on Larry Baer's comments it appears most of that investment is going to bail out the struggling Mission Rock project which is a separate company but owned by the Giants ownership group and which the Giants LLC is significantly invested in.
I am posting this to give you a heads up I will accept a few comments here but will probably limit them to one comment per commenter and will not accept long diatribes like what happened on....ahem....another well-known Giants-oriented blog.
Thanks to everybody for being regular readers and commenters. Thoughtful comments help make this the greatest Giants-oriented blog out there. Just my opinion, FWIW.
IMHO it's a nothing burger. It's a bunch of cash in unrelated to the team on the field now or in the future, meaning it's no difference to the Giants.
ReplyDeleteIt could be a positive for the Giants since "bailing out" the Mission investment won't detract from the baseball team.
Not a comment, but a question: Could you give us some idea of why the Mission Rock project is struggling? Much appreciated.
ReplyDeleteRe. Mission Rock struggles. Way beyond my pay grade but my understanding COVID and related factors tanked commercial real estate values which still have not recovered.
DeleteMany thanks.
DeleteI thought you made a really insightful point in your earlier post, Doc—one I hadn’t fully considered before. Organizations are odd creatures; more often than not, they're terrible multitaskers. The best talent and most ambitious people naturally are put on the areas that leadership is focused on, which means the parts leadership prioritizes get all the energy and resources, while the neglected areas tend to languish.
ReplyDeleteMaybe that’s part of why the Giants’ baseball side has been struggling lately? Whether it’s on-field performance or declining attendance. Focus even for organizations is finite. Maybe the balance is off?
- Fan
You mean the comment about Mission Rock turning into a major distraction at best? Yes, I do think if an ownership group is making decisions about the baseball franchise with one eye on the struggling real estate development next door it seems analagous to a batter or fielder taking his eye off the ball. On the other hand, baseball and the Giants were never the primary investment for anyone in in this ownership group so they have proven they can proverbially walk and chew gum at the same time. In retrospect I wonder if it might have been a mistake to use the baseball franchise to leverage the real-estate deal and better to keep the completely separate?
DeleteDeclining attendance? It's not quite back to pre-Covid, but after the reset to ZERO in 2020, attendance has been up every year since, 4 years increasing.
DeleteA good showing in 2025 could return attendance to 3,000,000.
Good point anon!
Delete- Fan