Many aspire to buy a professional sports team and call the shots. If it so wishes, a team can have dozens of minority stake owners. As of 2016 Jeffrey Royer, Michael Chipman, and Dale Jensen remained the other general partners. , "AZ Diamondbacks Team History and Encyclopedia", https://en.wikipedia.org/w/index.php?title=List_of_Arizona_Diamondbacks_owners_and_executives&oldid=1080167209, Lists of Major League Baseball owners and executives, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 30 March 2022, at 17:23. The Arizona Diamondbacks' Ken Kendrick was among four MLB owners who voted against the league's latest collective bargaining agreement proposal, according to a report. This is a straightforward claim. . In the expansion draft, the Diamondbacks scooped up veteran starting pitchers Brian Anderson and Jeff Suppan with their first two picks. That is the same year Kendrick ousted Jerry Coangelo as the Managing General Partner. Colangelo believed that taxpayers deserved an immediately competitive club in return for the investment they had made in Bank One Ballpark. Something that is perhaps unsurprising when the English earl came from the same roots as the Scandinavian jarl. Regardless, Earl received a significant boost to its popularity centuries and centuries ago because the servants of earls started it as a name. Colangelo later said that taking the lead in the baseball expansion effort fulfilled his desire to play a more prominent role in increasing the national profile of the Valley of the Sun. These dollar figures, Cohen maintains, are artificially low. Cohen asserts the calculations incorporate unreasonable discounts and fail to consider, among other things, how the legalization of sports betting in many states and the potential legalization of sports betting in Arizona is poised to substantially enhance the value of a Diamondbacks ownership stake. The teams apparent goal is to streamline the ownership group and reduce the number of partners with very minimal equity stakes in ownership. 10 NBA Notebook: Pacific, The Sporting News, October 26, 1987, 47; Steve Wilson, When Youre Colangelo, You Gotta Believe, Arizona Republic, January 16, 1994, 10; Norm Frauenheim, Colangelo-Led Group Buys Phoenix Suns, Arizona Republic, October 13, 1987, A1, A2. (Performed with evil mind is a legal term of art in Arizona; the plaintiffs are not calling Kendrick evil.). A trio of Diamondbacks limited partners are taking on the principal owner of the club, Ken Kendrick. Among the Diamondbacks limited partners are Alfredo Molina and Jim Weber. We know they believe the appraisal process commissioned by Kendrick lowballed the value of their interests. He is also an attorney and the Director of the Sports and Entertainment Law Institute at the University of New Hampshire Franklin Pierce School of Law. Like Kendrick, Jensen and Chipman earned their fortunes in the software industry. 0:04. In short, it started out as a business that specialized in data processing, but went on to become something much more, as shown by the fact that its latter incarnation specialized in building education platforms for institutes of higher education. He is a staff writer for Down the Drive, SB Nations University of Cincinnati athletics website. In May 1988 Stone backed out of his deal with Phoenix, arguing that he could no longer negotiate the terms of a stadium lease from a position of strength as he had neither a franchise in hand nor another tenant with whom to share the burden of selling premium seats to the public.5, Without Stones backing for the deal, stadium plans languished. Montreal was less than a two-hour drive from his home in Lake Placid, New York.) Through Kendrick, the club retained the consulting firm Bases Loaded. Very few succeed. More than 2.5 million people attended games at the Bank One Ballpark (nicknamed the BOB) in each of the franchises first seven seasons. Like Scottsdale itself, Talking Stick evokes the Old Southwest with its homages to mission revival architecture, sagebrush surroundings, and views of Camelback Mountain. Accessed August 3, 2016: http://maricopa.gov/StadiumDistrict/pdf/MCStadiumDistFY12AFR.pdf; David Fritze, Boom! First, it can come from cynwrig, which is Welsh for greatest champion. Second, it can come from cyneric, which is Anglo-Saxon for family ruler. Due to this, it can be rather challenging to tell when Kendrick refers to which potential meaning, seeing as how the Welsh and the English have been interacting with one another in various ways since the Roman withdrawal. Molina is the chairman and CEO of Molina Fine Jewelers, while Weber is a former professional pitcher. The Cleveland Indians announced plans to move their spring-training headquarters from Tucson to Homestead, Florida. ", The team respondedin a statement, saying that with the backing of Major League Baseball, ithas "chosen to streamline the ownership group and reduce the number of partners with very minimal equity stakes in the partnership. Kendrick, the . Kendrick is interesting in that it has two potential meanings in two languages. As of 2016, 15 of the 30 major-league teams belonged to the geographically compact (every team but one is in Maricopa County) and virtually rainout-free Cactus League.3. 3 Rick Hummel, Cactus League Is Coming on Strong, St. Louis Post-Dispatch, March 7, 2010, C1; Ron Fimrite, The Selling of Spring, Sports Illustrated, March 27, 1989, 58-61. This refers to the majority of a partnership pressuring those with minority interests to sell upon threat of termination. He did so through a transaction with retired Diamondbacks third baseman Matt Williams, who at the time owned a .5% interest. The same is true of Carlisle Investments, whose principal is Charles Carlisle. Stoneham placed his clubs spring-training camp in Phoenix. This is less than 0.5 percent of the total economic activity in Maricopa County in that same time period. SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. Arizona Diamondbacks principal owner Ken Kendrick sent former Arizona attorney general Grant Woods a threatening and aggressive email June 19 before Woods was fired from the Phoenix law firm . MLB may want to offer policy statements that support the benefits of contracting the sizes of limited partners. 23 Floating on Air, Colangelo Readies Big Party Today; Pedro Gomez, Tickled to Be in Arizona, The Sporting News, December 14, 1998, 80; All Arizona Has to Do Now, Right Now, Is Win., 24 Mike McCloy, Ballpark Looks Like a Million, Arizona Republic, October 13, 1996, B1; Don Ketchum, In the Ballpark, Arizona Republic, November 16, 1995, D4; Come Along on a BOB Tour, Arizona Republic, March 22, 1998, A1; Martin Van Der Wert, 1st Year Is a Tryout for Cooling System, Arizona Republic, March 22, 1998, BP6; Family-Style Attractions Cover All the Bases, Arizona Republic, March 22, 1998, BP10; Bill Muller, Mark Shaffer, and Richard Ruelas, BOB Takes a Bow, Arizona Republic, March 30, 1998, A1; Linda Helser, Diamondbacks May Be Best Pro Sports Bargain in Valley, Arizona Republic, March 29, 1998, C37; Pedro Gomez and Mark Topkin, Scouting the Expansion Cities, The Sporting News, March 30, 1998, 26; Fans Guide: Ticket Prices, March 30, 1998, Arizona Republic, C41. ", The team respondedin a statement, saying that with the backing of Major League Baseball, it, has "chosen to streamline the ownership group and reduce the number of partners with very minimal equity stakes in the partnership.". Later in 1993, Bruner and Garagiola set up a meeting with Phoenix Suns owner Jerry Colangelo, one of the regions most popular public figures and fervent boosters, to discuss their idea. During his 35 years as a Suns executive, the team was a fixture in the Western Conference playoffs and played to large, boisterous crowds, first at the Arizona Veterans Memorial Coliseum on the State Fairgrounds and then at the downtown America West Arena. Opened in 2011, the facility is on land owned by the Salt River Pima-Maricopa Indian Community. The Legislature also authorized the county Board of Supervisors to impose a 0.25 percent sales tax to help finance construction of a baseball stadium if one of the countys municipalities was awarded a franchise.6, Stone continued to pursue a major-league team for Phoenix into the early 1990s. Finally, the plaintiffs are suing to force Kendrick and the Diamondbacks to provide the documentation they have requested, and they are suing for a Preliminary and Permanent Injunction to prevent the team from forcing them to relinquish their ownership stakes, although none of the three have received payment yet and, with the shutdown of sports from the coronavirus, its not clear that anything has transpired that has yet deprived them of any rights or privileges as team owners. The attacker told the press, I shot Supervisor Mary Rose Wilcox to try to put a stop to the political dictatorship of Jerry Colangelo in pushing the baseball stadium tax. Wilcox survived the attack, which she blamed on the harsh opposition to the tax that remained a fixture of Phoenix talk radio.18. Arizonas significant public investment in spring-training baseball helped lure a number of franchises to the Cactus League. Kendricks role as general partner is central to the case. ET. Between 1998 and 2000, the Diamondbacks more than doubled their payroll from $32 million to $80 million. In addition, partners can be called upon to contribute toward fees in a transaction. America West Arena, the Suns new downtown home, opened in June 1992. Accessed June 10, 2016: http://articles.baltimoresun.com/1997-11-19/sports/1997323118_1_red-sox-pedro-martinez-rosters. To that end, he is barred from acting in ways that deny the limited partners of their benefits of the partnership. It also doesnt guarantee meaningful influence over the franchises direction. Colangelos insider status made Arizonas bid an immediate frontrunner in the expansion chase. In 1989 the eight-team Cactus League was in danger of losing one of its founding members. 'Get all the hitters out', Notes: Nelson's outing; new facility paying dividends, Flexing: Each team's top power-hitting prospect, Pipeline Podcast: Druw Jones talks shoulder rehab, making pro debut and more, Pfaadt 'fantastic' in debut -- and he made sure to have fun. In early 1993, Maricopa County Supervisor and longtime baseball supporter Jim Bruner began discussing the idea of putting together a bid for a forthcoming new round of expansion with a friend, Phoenix sports attorney Joe Garagiola Jr., the son of the baseball personality, player, and commentator. 1 Rick Thompson, A History of the Cactus League, Spring Training Magazine, March 1989. Short listed for "Leaders in Luxury" Featured in Cover Story Top 30 Marketing Executives in America Despite the Diamondbacks more recent struggles in the standings, the steadiness of its leadership transformed the franchise into one of the National Leagues most respected almost immediately. Colangelo transformed the Suns into one of professional basketballs best managed and most consistently successful franchises. He became part- owner with the team's inception in 1995. The stadium was to serve as the springboard to a $500 million downtown redevelopment plan that would include public and private investments in commercial and retail space, hotels, and housing. Chase Field will host 10 World Baseball Classic games from March 11-15. Molina is required to invest an additional $3.8MM or his stakes will be bought out at the same number, Weber investing another $6MM or get a $1.5MM buyout, and Carlise Investments getting a similar ultimatum for undisclosed amounts. The win-now approach of the Colangelo-Garagiola era can take some of the blame for the diminishing returns. Naturally, Kendrick has been responsible for both successes and failures, as shown by both the positive and the negative coverage of his activities over the course of his career in said position. Then in 1991, he abandoned his Arizona plans to become a partner in what turned out to be an unsuccessful effort to purchase the Montreal Expos. Granted, this level of ownership doesnt provide authority over team decisions, on- or off-the-field. 9 prospect Drey Jameson strikes out two batters in two hitless innings during his spring outing against the Giants, D-backs catcher Carson Kelly lifts a solo home run over the left-center-field wall to give Arizona a 1-0 lead in the top of the second, World Baseball Classic tickets on sale now, Watch the Hot Stove every weekday at 9 a.m. Gambling problem? In-depth coverage of the Valleys real estate market and whats being built and redeveloped in your city. Accessed June 3, 2016: http://foxsports.com/arizona/story/cactus-league-stadium-guide-salt-river-fields-arizona-diamondbacks-colorado-rockies-022416 ; Cactus League: Salt River Fields, azcentral.com, February 24, 2016. The. 12 Mike Padgett, Decision Cost Jim Bruner His Dream of Serving as U.S. Congressman, Phoenix Business Journal, March 26, 2008. Carlisle Investments has been a part of the team's ownership group since 1998, and Molina and Weber bought in back in 2004. Arizona Diamondbacks Minority Owner. Managing General Partner Years/Date; Ken Kendrick, Managing General Partner: 2004-Present: Mike Chipman, General Partner: 2004-Present: Jeff Royer, General Partner: 2004-Present: Jerry Colangelo, Managing General Partner: In turn, this means that he has been involved with various banks in various other banks as well, with an excellent example being his investment in Woodforest National Bank. 7 Martin Stone; Bob Cohn, Race for Big Leagues Begins, Arizona Republic, June 15, 1990, A1; Eric Miller, Valley Strikes Out, Arizona Republic, December 19, 1990, A1. The Diamondbacks adopted a quintessentially late 1990s palette of team colors: purple, turquoise, black, and copper. Cohen also stresses that Molina, Webster and Carlisle Investments have met every requirement for ownership. Kendrick, 77 and a former banking executive, first became a part-owner of the Diamondbacks when the team was founded in 1995. The best guide in Arizona to getaways, concerts and the dining scene. Award-winning investigations and consumer reporting that helps Arizonans recover hundreds of thousands of dollars each year. 21 Murray Chass, Arizona Gets Set to Hire Showalter, New York Times, November 12, 1995, 42; Howard Fendrich, Diamondbacks, Yankees Found Success After Showalter Left, Seattle Post-Intelligencer, October 25, 2001. As general manager the Diamondbacks in June 1995 hired Joe Garagiola Jr., one of the founding fathers of big-league baseball in Phoenix. Kendrick has the legal responsibility to engage in fair dealing and act ethically. You can follow him on twitter @ClaytonTrutor. He realized that if he alienated an ally like Bruner, the political pressure that other county supervisors would face from a public that less than five years earlier had turned down a stadium financing referendum would likely push their votes into the no column.13, Maricopa County tax assessors projected that revenue from the 0.25 percent sales tax would reach its $238 million target in approximately 2 years, and the tax would end around the time the ballpark was slated to open in March 1998. Such a judgment is issued by a judge and reflects a clarification of the rights and obligations of the parties. 19 Bob McManaman, Colangelo Winds Up to Make Big Pitch, Arizona Republic, February 19, 1994, A1, A20. Additionally, the BOB offered some of the most affordable prices in baseball. According to Buchanan, the lawsuit has nothing to do with any potential relocation as Kendrick controls a voting bloc of 90% of the ownership (Kendrick himself does not have 90% of the ownership shares). In the context of sports, a limited partnership involves a group of investors and businesses who own respective shares. Molina, a jeweler by trade, is chairman and CEO of Molina Fine Jewelers. According to USA Today's Bob Nightengale, D'Backs managing general partner Ken Kendrick is weighing the possibility of "selling a significant, but still minority share" of the team. For now, the plaintiffs signal a desire to remain in the partnership. Get ready for plenty of action and exciting matchups all season long. Diamondbacks partners were called upon to make pro rata contributions towards legal, accounting and consulting fees. To the extent MLB has already done so in communications with clubs, the league could credibly maintain that Kendricks moves are consistent with established league policies. Colangelo cleaned house quickly and soon restored the Suns to on-court success; they put together a franchise-record streak of seven consecutive 50-win seasons between 1988-1989 and 1994-1995. Alfredo Molina, Jim Weber, and Carlise Investments are suing Kendrick over his buy up or be bought out ultimatum, which started in January. The. Four of the publicly financed facilities created by the legislation are each shared by two major-league clubs, including the Indians facility in Goodyear, which they share with the Cincinnati Reds. A slightly more achievable goal, at least among the very affluent, is to buy a minority stake in a team. This means that prospective partners must clear background checks and due diligence reviews. The Arizona Diamondbacks have had two owners and five general managers in their 20-year history. Initially, the BOB proved to be its own draw with an unprecedented array of amenities that appealed to spectators who were not especially interested in baseball: several playgrounds, a picnic pavilion, a day spa, and a swimming-pool party area (which could be rented for a group of up to 30 for $4,000 per game) were among the most popular attractions. In the 1960s, Kendrick founded Datatel, Inc., a computer software developer. Instead, his full name is Earl G. Kendrick Jr., though to be fair, Ken Kendrick has a nice alliterative sound to it. The Diamondbacks operate through a limited partnership. Over the past two decades, hes founded numerous startups, most of which have been subsequently acquired by the likes of Facebook, Google,, Read More 10 Things You Didnt Know about Yuri GurskiContinue, John Foley, the founder, and CEO of Peloton, a fitness company, worked so hard to get his company off the ground that at one time, his son asked him if he loved the business more, Read More The History of and Story Behind the Peloton LogoContinue, As stated by its name, 3D printing is a process that creates a three-dimensional object using the information stored in a digital file. ET, Here are the D-backs' 2023 Top 30 prospects, Chafin's goal for '23? Kendrick also allegedly pledged that the club would resolve differences between the numbers supplied by the two firms (Based Loaded and the firm hired by the limited partners). pic.twitter.com/mdZE3bNqBO, Lourdes Gurriel Jr. gives the D-backs their first run of the game with an RBI double to right field, bringing in Josh Rojas in the 5th, Proof anything can be an album cover. He charges that it seemed to be Kendricks idea: Kendrick sought and obtained permission from MLB to institute the floor. Pages in category "Arizona Diamondbacks owners" The following 6 pages are in this category, out of 6 total. As a result, Showalter was fired after the 2000 season.21, The win-now approach was clearly the governing ideology of the Diamondbacks by the time of the November 18, 1997, expansion draft. A general partner, sometimes referred to as the clubs principal owner, runs day-to-day operations, sets policies and oversees the hiring and firing of baseball operations and business services. Majority control of the Diamondbacks is owned by a four-person investment group that took over the club in 2004 from initial majority owner Jerry Colangelo. The trio is represented by attorney Roger Cohen and his co-counsel, Kathi Sandweiss. To that end, the plaintiffs insist on all relevant emails, correspondences, work papers and empirical analyses with MLB and Bases Loaded. In addition to the BOB, Maricopa County taxpayers subsidized municipal bonds that financed the construction of a number of other downtown attractions during the 1990s, including a new library, a science center, an art museum, and a museum of Arizona history.25, The success the Diamondbacks enjoyed during their early years came at a high price. Read More 20 Things You Didnt Know about RooserContinue. This type of arrangement can infuse millions of investor dollars into a teams operations. Prospective partners must prove their mettle with different constituencies. To illustrate, five years ago the Diamondbacks entered into a contract with Fox Sports Net Arizona for the sale of broadcasting rights. The colors were marketed as evocative of the regions cultural heritage. Bullpen reinforcements: those we didnt sign. In 1990 the Arizona Legislature passed legislation that created a Maricopa County stadium district governed by the county Board of Supervisors. Two years later, Johnson and Schilling anchored the team that won the 2001 World Series against the Yankees.23, The Diamondbacks success helped them draw large crowds even after the honeymoon of their first season. Colangelos Suns had engendered unprecedented enthusiasm in the region for professional sports with an exciting run to the NBA playoff finals that year. Its possible that MLB could help Kendrick. His presence would likely have galvanized the already stinging criticism that he and pro-stadium legislators had already faced as a result of the deal. He is also a PhD candidate in US History at Boston College. In subsequent seasons Showalter clashed with Garagiola over the direction of the club. If were being honest, an owner with a minority stake experiences a mostly ceremonial involvement.
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