John and Becky Moores reached a settlement of their divorce case today according to an article in the San Diego Union Tribune.
Once the case is finalized in Superior Court in May, this should be the beginning of the Padres organization seeing a freeing up of financial resources to increase payroll.
The Padres payroll has been frozen since February of 2008 to a level that would ensure the team would not experience losses during the divorce.
25 months later we are seeing a settlement that will allow the team to move forward.
While the dissolution of a union that lasted 44 years is a sad thing on a personal level, for the Padres, today is a good day.
Good luck to both John and Becky Moores as they move forward in their personal and professional lives.
You brought San Diego something we had never known, a baseball team that consistently had a chance to compete. For that I thank you.
Now please move on so we can move on as fans of the San Diego Padres.
You are kidding yourself that payroll will loosen up once the divorce settles. The price Moorad is paying is set in stone and Moores has no incentive to spend on the team while he waits four years for Moorad to pay up. Likewise, Moorad won't be spending any money on the team cause he's pulling together every penny to complete the buyout.
ReplyDeleteThanks for reading the blog. We appreciate it.
ReplyDeleteThe only reason the Padres payroll was slashed was court mandates that were part of the Moores divorce. It was not John Moores choice. It was a judges order.
Moorad and his group of investors will have a controlling interest in 2011 per recent interviews with Moorad and then they can do what they want in terms of payroll.
Moorad has said several times that by the 2012 or 2013 season that we should expect a payroll in the $70-80 million range.
Although the Padres brass are overestimating the 2010 payroll in order to not look like liars this season, I will still take him at his word that payroll will increase substantially over the next few seasons.