Hoffman Sets Sights on Buying Cards

[zuck698]

David Steward of World Wide Technology would allow for a richer owner with St. Louis ties. He has over 12 billion. Maybe we should start an online petition for Steward to buy the Cardinals. Who better, to tell a Billionaire, how they should spend their money than Cards Talk?

[CCard]

Well..... I've said that IF Dewitt is selling the team that this is the path they would take. Divest of all contracts they can and make it more palatable for a new owner to purchase. Hoffman is a Missouri native so maybe he has an affinity for the Cards. New owner, probably a new public financed stadium. And the wheel turns.

But don't forget there is another Missouri native far wealthier than him ... Stanley Kroenke

Kroenke owns the NFL Rams, Denver Nuggest NBA , Colorado Avalanche NHL , Aresenal FC (Premier League ) his priciest team , Colorado Rapids MLS
Colorado Mammoth NLL and also the largest private landowner in the U.S.
Many know how much he loves the St. Louis area ... Maybe he could get a new stadium built here .. He built So Fi in LA on his own dime

He could offer DeWitt a far higher price . Hoffman at $2.5 B worth .. Kroenke $21.3 B and that does NOT count his wife's fortune , Ann Walton $13.4 B

I think there's some kind of rule against owning so many teams for baseball owners. I could be wrong though.

[Galatians221jb1]

David Steward of World Wide Technology would allow for a richer owner with St. Louis ties. He has over 12 billion. Maybe we should start an online petition for Steward to buy the Cardinals. Who better, to tell a Billionaire, how they should spend their money than Cards Talk?

I’ve met David. Wonderful guy but like me he’s in his mid seventies. Might not want that on his plate that late in life.

[Goldfan]

Interesting. But, is he who we really want owning the team? He is worth a lot, but $2.5B is not open checkbook wealth given the baseball salary structure. Plus, isn't this the same guy that started a development in Augusta MO, started buying stuff and then stopped?

^^^THIS^^^

And the Cardinals are valued at $2.5B so he'd need partners (like BDWJr did when he purchased them).

I've heard this rumor before that the Washington, Mo native wanted to buy the Cardinals.

I think this is all just chatter................but lets keep a close eye on it since BDWJr may not like the climate around MLB after the new CBA is announced and there's no salary cap.

Wonder if the Taylors or the WWT tandem would be interested in joining that group. They're already both involved with SC City (at least Taylors and Kavanaugh, not idea what Steward does with his money).

Maybe Jack Dorsey or Sam Altman would bring some youth and technology focused leadership? Rodger Riney is long in the tooth, but maybe bored in retirement? Pujols should have plenty of scratch to invest! Is Johnny Morris a Cardinals fan?

From what I know the Taylors not interested in the Cardinals.

Dorsey doesn't seem like much of a sports enthusiast and Altman's too busy w/ChatGPT.

I actually interviewed once w/Rodger to be his first branch mgr when I was a young broker and he was moving his two office Arizona brokerage HQ to St. Louis (Scottsdale Securities was it's name at that time)......after meeting for a couple hours he told me his vision to be bigger than Schwab..... I thought he was crazy and passed on the job....big mistake on my part.

Well, I don’t know about bigger…..but they made it into Schwab…

[Bdub74]

Rumor has it that Kroencke wants to buy the Cardinals as well.

[Cardinals4Life]

Cardinals aren’t for sale. I also want to buy the Cardinals. Wanting to buy something and actually buying something are two different things.
I don’t know if I want an owner that buys sports franchisees simply as investments.

You mean like our current owners?

What other major teams does Dewitt own?

No idea. But I know he bought the Cardinals as an investment.

[Pura Vida]

This team has had 3 owners in my lifetime. The last Two have made a big difference; what is it to say a new owner wouldn't make a difference?

I've said recently, all this team needs is a couple of very good players to compete. Just maybe a new owner would invest in a couple.

Typically when the new ownership groups comes in they want to make splash…..won’t be hard to do here.
The salary dumps without salary reinvestment certainly align with a sale.

Been saying this for months. And this biz strategy is common for many industries. And it is possible for the BDW family to remain part of ownership. To this day, there has been more of a salary/contract dump than a rebuild.

[riff raff]

Rumor has it that Kroencke wants to buy the Cardinals as well.

He might if he could get Ball Park Village with it. That's his thing

[ramfandan]

Hopefully he’s bringing some deep pocket billionaire buddies with him as well

Stan Kroenke ??

[riff raff]

F Enos

[Goldfan]

Hoffman owns controlling interest in the PD……and says some changes are coming to the paper.
Perhaps CTer’s might be able to converse about football in Cards Talk without being tossed into double secret probation

[Banner29]

Interesting. But, is he who we really want owning the team? He is worth a lot, but $2.5B is not open checkbook wealth given the baseball salary structure. Plus, isn't this the same guy that started a development in Augusta MO, started buying stuff and then stopped?

Researching what I could about this post specifically(and I’ll admit I’m not overly proficient at this) it looks as if in theory Hoffman bought the Cardinals it would rank him around 17-18 as far as owner net worth.

Couple notes:

Dewitt is ranked 11

Cleveland and Baltimores owners are 8-9, Twins and As 13-15

Astros and Yankees rank BELOW where Hoffman would be ranked

I guess where I’m getting at is it’s not really a forgone conclusion that being among the wealthiest owners in the sport necessarily means they will be dishing out top payrolls. Market size plays a huge role in it

Last I saw the Cards are valued at about 2.5 B so if Dewitt were to seek he’d probably easy get more than that. And I think anyone that buys a team for more than they are worth would come in with a solid plan to maximize their investment. This is also someone that knows very well the(usual) passion and dedication of this fanbase and what it takes to keep them invested to the team. I also like hearing about how it’s a lifelong dream of his to own the Cards. Kind of makes me believe this team would become his baby

[RamFan08NY]

This team has had 3 owners in my lifetime. The last Two have made a big difference; what is it to say a new owner wouldn't make a difference?

I've said recently, all this team needs is a couple of very good players to compete. Just maybe a new owner would invest in a couple.

Typically when the new ownership groups comes in they want to make splash…..won’t be hard to do here.
The salary dumps without salary reinvestment certainly align with a sale.

Been saying this for months. And this biz strategy is common for many industries. And it is possible for the BDW family to remain part of ownership. To this day, there has been more of a salary/contract dump than a rebuild.

A rebuild doesn't happen in 2 months.

[RamFan08NY]

Hoffman owns controlling interest in the PD……and says some changes are coming to the paper.
Perhaps CTer’s might be able to converse about football in Cards Talk without being tossed into double secret probation

Hahaha. Best post I've read today!

[ICCFIM2]

Interesting. But, is he who we really want owning the team? He is worth a lot, but $2.5B is not open checkbook wealth given the baseball salary structure. Plus, isn't this the same guy that started a development in Augusta MO, started buying stuff and then stopped?

Researching what I could about this post specifically(and I’ll admit I’m not overly proficient at this) it looks as if in theory Hoffman bought the Cardinals it would rank him around 17-18 as far as owner net worth.

Couple notes:

Dewitt is ranked 11

Cleveland and Baltimores owners are 8-9, Twins and As 13-15

Astros and Yankees rank BELOW where Hoffman would be ranked

I guess where I’m getting at is it’s not really a forgone conclusion that being among the wealthiest owners in the sport necessarily means they will be dishing out top payrolls. Market size plays a huge role in it

Last I saw the Cards are valued at about 2.5 B so if Dewitt were to seek he’d probably easy get more than that. And I think anyone that buys a team for more than they are worth would come in with a solid plan to maximize their investment. This is also someone that knows very well the(usual) passion and dedication of this fanbase and what it takes to keep them invested to the team. I also like hearing about how it’s a lifelong dream of his to own the Cards. Kind of makes me believe this team would become his baby

First, I am not certain the Cards are worth $2.5B anymore. Dropping TV revenue from $65M a year to $20M a year has to have a downward pressure on the valuation. Second, even for a billionaire worth $2.5B, putting 100% of your net worth into an asset is a big bet. Also probably not that easy to do without bringing in quite a few partners.

I did not do any research on this. But, I am guessing that there are zero owners not in the top 10 wealthiest owners who bought a team in the last 10 years. The valuations are just too high. Also, psychologically it is hard to sell when the value was $2.5B and maybe it is less now. I don't know that it is less. But, there are a lot of reasons that it should/would be.

[Pura Vida]

This team has had 3 owners in my lifetime. The last Two have made a big difference; what is it to say a new owner wouldn't make a difference?

I've said recently, all this team needs is a couple of very good players to compete. Just maybe a new owner would invest in a couple.

Typically when the new ownership groups comes in they want to make splash…..won’t be hard to do here.
The salary dumps without salary reinvestment certainly align with a sale.

Been saying this for months. And this biz strategy is common for many industries. And it is possible for the BDW family to remain part of ownership. To this day, there has been more of a salary/contract dump than a rebuild.

A rebuild doesn't happen in 2 months.

They've been trading their vets and prime players at the deadline for 2-3 years now. No signing of free agents same timeframe. Bloom joined them in 24. Call it what you want but they are dumping all expensive contracts and accumulating inexpensive minor league players. Staying with it...they will be sold.