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	<title>Comments on: Blue Jays Showing Financial Flex</title>
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	<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/</link>
	<description>Comprehensive coverage of the Toronto Blue Jays</description>
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		<title>By: Arjonn</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8779</link>
		<dc:creator><![CDATA[Arjonn]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 22:27:08 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8779</guid>
		<description><![CDATA[Certainly possible. I&#039;m not counting either out, just not considering them to be locks.]]></description>
		<content:encoded><![CDATA[<p>Certainly possible. I&#8217;m not counting either out, just not considering them to be locks.</p>
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		<title>By: Joshua Howsam</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8769</link>
		<dc:creator><![CDATA[Joshua Howsam]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 20:08:29 +0000</pubDate>
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		<description><![CDATA[I think Bolsinger would probably have an inside track at a long reliever spot. He does have some MLB success under his belt.]]></description>
		<content:encoded><![CDATA[<p>I think Bolsinger would probably have an inside track at a long reliever spot. He does have some MLB success under his belt.</p>
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		<title>By: Joshua Howsam</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8768</link>
		<dc:creator><![CDATA[Joshua Howsam]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 20:06:34 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8768</guid>
		<description><![CDATA[That&#039;s great. The team is still paying $206.7M vs $202.8M in salary at $160M, which is an increased cost on the Rogers Media ledger that they didn&#039;t have to approve, regardless of revenue. Additionally, all of that revenue was accounted for before the season. But none of that is the point of the sentence in the article, and which I should have made clearer in my first reply. All I said was a diminished CDN dollar, with no specific time reference, though you chose to assign one.

The point is that the team just traded for an additional $10M USD from here until the end of the year. At current exchange rates, that&#039;s $13M CDN. That&#039;s a big outlay. They weren&#039;t required to approve it, but they did, which is a good thing.]]></description>
		<content:encoded><![CDATA[<p>That&#8217;s great. The team is still paying $206.7M vs $202.8M in salary at $160M, which is an increased cost on the Rogers Media ledger that they didn&#8217;t have to approve, regardless of revenue. Additionally, all of that revenue was accounted for before the season. But none of that is the point of the sentence in the article, and which I should have made clearer in my first reply. All I said was a diminished CDN dollar, with no specific time reference, though you chose to assign one.</p>
<p>The point is that the team just traded for an additional $10M USD from here until the end of the year. At current exchange rates, that&#8217;s $13M CDN. That&#8217;s a big outlay. They weren&#8217;t required to approve it, but they did, which is a good thing.</p>
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		<title>By: Arjonn</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8762</link>
		<dc:creator><![CDATA[Arjonn]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 17:15:05 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8762</guid>
		<description><![CDATA[It&#039;s not a big thing, but I don&#039;t know about counting on Loup or Bolsinger as sure to be back. Loup will be arb-eligible for the second time. While he doesn&#039;t rate to get much of a raise if any from this year&#039;s $1.05mm, it&#039;s unusual for players to take cuts. So depending on how confident management is that he&#039;ll be on the 25-man roster next year, there might be some chance he&#039;ll be non-tendered. And if this is his last option year, he&#039;ll have to be exposed to waivers if he doesn&#039;t make the 25-man. 

I think this is Bolsinger&#039;s last option year too, so while he&#039;s not arb-eligible until 2018 at the earliest, he&#039;d also have to pass through waivers unless he makes the team.]]></description>
		<content:encoded><![CDATA[<p>It&#8217;s not a big thing, but I don&#8217;t know about counting on Loup or Bolsinger as sure to be back. Loup will be arb-eligible for the second time. While he doesn&#8217;t rate to get much of a raise if any from this year&#8217;s $1.05mm, it&#8217;s unusual for players to take cuts. So depending on how confident management is that he&#8217;ll be on the 25-man roster next year, there might be some chance he&#8217;ll be non-tendered. And if this is his last option year, he&#8217;ll have to be exposed to waivers if he doesn&#8217;t make the 25-man. </p>
<p>I think this is Bolsinger&#8217;s last option year too, so while he&#8217;s not arb-eligible until 2018 at the earliest, he&#8217;d also have to pass through waivers unless he makes the team.</p>
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		<title>By: Steven Banks</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8761</link>
		<dc:creator><![CDATA[Steven Banks]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 17:11:25 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8761</guid>
		<description><![CDATA[Joshua,

Please note the Jays receive from MLB, for a multitude of Revenue Streams in USD almost $100 MM USD annually, excluding the minority share sold of MLBLAM.

These streams include National Tv and Radio Contract, Revenue Pool Sharing of  Regional Tv Revenue, I believe it is 34% of the Regional Tv Revenue. Rogers cooks their books so that their contribution is always the average Share annually.
For Royalties and Fees for MLB merchandise not sold each teams stores or eCommerce affiliated to that store. The monies from MLBLAM and another Trust that Selig setup after the sales of the Expos.
This revenue stream has increased each year, and will continue to do so , because Regional TV, Royalties and Fees  for merchandise, MLBLAM and the other Trust continues to grow.
So the amount of monies to cover the USD Salaries of Players and Managers , Milb Players and Managers and the two Draft expenditures as well as medical and insurance benefits which is supplement from 50% of Luxury tax penalties that is shared by the 27 or 28 teams that done exceed the Luxury Cap.

These numbers reduce from the USD expense of $160 MM total to $60 Mm per annum
Therefore the Xchange rate effect is less than $1.5 MM  which is inconsequential. These guys are making monies hand over fist. The Rogers Accountants are hard at work attributing management fees to cover it.]]></description>
		<content:encoded><![CDATA[<p>Joshua,</p>
<p>Please note the Jays receive from MLB, for a multitude of Revenue Streams in USD almost $100 MM USD annually, excluding the minority share sold of MLBLAM.</p>
<p>These streams include National Tv and Radio Contract, Revenue Pool Sharing of  Regional Tv Revenue, I believe it is 34% of the Regional Tv Revenue. Rogers cooks their books so that their contribution is always the average Share annually.<br />
For Royalties and Fees for MLB merchandise not sold each teams stores or eCommerce affiliated to that store. The monies from MLBLAM and another Trust that Selig setup after the sales of the Expos.<br />
This revenue stream has increased each year, and will continue to do so , because Regional TV, Royalties and Fees  for merchandise, MLBLAM and the other Trust continues to grow.<br />
So the amount of monies to cover the USD Salaries of Players and Managers , Milb Players and Managers and the two Draft expenditures as well as medical and insurance benefits which is supplement from 50% of Luxury tax penalties that is shared by the 27 or 28 teams that done exceed the Luxury Cap.</p>
<p>These numbers reduce from the USD expense of $160 MM total to $60 Mm per annum<br />
Therefore the Xchange rate effect is less than $1.5 MM  which is inconsequential. These guys are making monies hand over fist. The Rogers Accountants are hard at work attributing management fees to cover it.</p>
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		<title>By: Joel</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8760</link>
		<dc:creator><![CDATA[Joel]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 16:49:23 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8760</guid>
		<description><![CDATA[Perhaps, but shouldn&#039;t they (Rogers) have far more free range to modify/adjust to their surrounds than a contracted broadcaster?  After all, Rogers owns the SkyDome.  I suppose we&#039;ll never know.  I do know, camera angles aside, that some/many of those slowed down replays have an inferior frame rate.  The ball moving blurred inches across the screen per m/s vs. a nice crystal clear oozing slowness.  It would be nice to upgrade the tech. Anyway, it&#039;s definitely out of this plebeians control.]]></description>
		<content:encoded><![CDATA[<p>Perhaps, but shouldn&#8217;t they (Rogers) have far more free range to modify/adjust to their surrounds than a contracted broadcaster?  After all, Rogers owns the SkyDome.  I suppose we&#8217;ll never know.  I do know, camera angles aside, that some/many of those slowed down replays have an inferior frame rate.  The ball moving blurred inches across the screen per m/s vs. a nice crystal clear oozing slowness.  It would be nice to upgrade the tech. Anyway, it&#8217;s definitely out of this plebeians control.</p>
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		<title>By: Steven Banks</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8758</link>
		<dc:creator><![CDATA[Steven Banks]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 16:34:23 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8758</guid>
		<description><![CDATA[Shatkins

Has done a good job of increasing the depth of the MLB team, supplementing players to the value players such as JD,Tulo, Martin, JB and EE. 
My belief is that the Jays will sign EE or JB and offer a 3/35 MM deal to Saunders, unless he continues to tank, than he will be 3/30 and you can let JB get you a supplementary pick.
Next year by mid year , if his talent continues to shine SRF maybe up with the Jays. 
Alford and Tellez are ready for 2018 based on their evolution.]]></description>
		<content:encoded><![CDATA[<p>Shatkins</p>
<p>Has done a good job of increasing the depth of the MLB team, supplementing players to the value players such as JD,Tulo, Martin, JB and EE.<br />
My belief is that the Jays will sign EE or JB and offer a 3/35 MM deal to Saunders, unless he continues to tank, than he will be 3/30 and you can let JB get you a supplementary pick.<br />
Next year by mid year , if his talent continues to shine SRF maybe up with the Jays.<br />
Alford and Tellez are ready for 2018 based on their evolution.</p>
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		<title>By: Joshua Howsam</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8756</link>
		<dc:creator><![CDATA[Joshua Howsam]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 15:59:43 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8756</guid>
		<description><![CDATA[I wonder how much of that is Sportsnet vs the available camera locations in the Dome. I would assume it&#039;s more the latter. ]]></description>
		<content:encoded><![CDATA[<p>I wonder how much of that is Sportsnet vs the available camera locations in the Dome. I would assume it&#8217;s more the latter. </p>
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		<title>By: Joshua Howsam</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8754</link>
		<dc:creator><![CDATA[Joshua Howsam]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 15:57:54 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8754</guid>
		<description><![CDATA[You seem to be trying to equate my piece to the revenue earned to date, but the team would be basing the money they can add this year off projected end of season earnings, using current information. As such, last year&#039;s final attendance number is arguably more relevant than attendance to date, hence the mention about likely increase as the season gets into the heat of the playoff race.

As for the exchange rate, you&#039;re looking at dollars now vs dollars a year ago, but to this point in the season, the Canadian dollar has averaged $0.774 USD, whereas last year the average was $0.789 over the season. That may not seem like much, but on a $140M payroll, that&#039;s a difference of over $4.3M. At a current rate of $0.764, there&#039;s no reason to expect that gap to get smaller over the year. I also recall reading that Rogers didn&#039;t hedge this year, but can&#039;t find that so I didn&#039;t quote it. 

The rest of your comment is spot on though.]]></description>
		<content:encoded><![CDATA[<p>You seem to be trying to equate my piece to the revenue earned to date, but the team would be basing the money they can add this year off projected end of season earnings, using current information. As such, last year&#8217;s final attendance number is arguably more relevant than attendance to date, hence the mention about likely increase as the season gets into the heat of the playoff race.</p>
<p>As for the exchange rate, you&#8217;re looking at dollars now vs dollars a year ago, but to this point in the season, the Canadian dollar has averaged $0.774 USD, whereas last year the average was $0.789 over the season. That may not seem like much, but on a $140M payroll, that&#8217;s a difference of over $4.3M. At a current rate of $0.764, there&#8217;s no reason to expect that gap to get smaller over the year. I also recall reading that Rogers didn&#8217;t hedge this year, but can&#8217;t find that so I didn&#8217;t quote it. </p>
<p>The rest of your comment is spot on though.</p>
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		<title>By: Steven Banks</title>
		<link>http://toronto.locals.baseballprospectus.com/2016/08/03/blue-jays-showing-financial-flex/#comment-8752</link>
		<dc:creator><![CDATA[Steven Banks]]></dc:creator>
		<pubDate>Wed, 03 Aug 2016 15:12:27 +0000</pubDate>
		<guid isPermaLink="false">http://toronto.locals.baseballprospectus.com/?p=5122#comment-8752</guid>
		<description><![CDATA[Agreed that the payroll is $10 MM USD higher than last year, however, the CDN exchange rate is the same rate today as it was a year ago.
Additionally, the Jays attendance for this year is greater by 594,000 seats filled compared to last year. Your comparison of the present annual attendance to 2015 average attendance is not applicable.
Should the average seat price be higher by 10% (presently 2.2 Million seats this year- that would add approx. $5 MM USD to Revenue) plus the additional 594,000 attendees based on last year USD ticket prices averaging $22.50 or 13.2 MM USD more in revenue. 
Presently the Jays spent $10 MM more than last year providing depth and replacing Dickey for next year and have achieved $18.2 MM more in direct Revenue. 
This excludes ancillary revenue such as food and beverage increases as well as merchandise sales increase.
On an annualized basis Jays revenue including F &amp; B , merchandise sales, and ticket sales for 2016, should provide a revenue increase by $30 MM USD for this year. Net Benefit for the team is $20 MM for the next year budget which could move to $160 to 170 MM. 
The Jays could sign 2 of 3 Free Agents EE, JB and Saunders for $45-50 MM. and with $5 MM for the bullpen still be within budget of $160 MM. 
The team would be 5 deep in Starting and Relief pitching, with Grilli, Osuna and Biagini, Bolsinger, Loup returning. 
Goins or Barney could be trade bait.
Finally with greater viewership so far by 50% and the increase of advertising revenue being 40% higher.  The Jays also made money from the sale of the minority share of MLBLAM to Disney, the share is valued at $40 MM.
No tag days for the Jays.
Additionally, the Jays prospects in the farm system is much deeper, including next year&#039;s first round pick and probably at least 1 supplementary pick, the farm system should move into the top ten by end of 2017.]]></description>
		<content:encoded><![CDATA[<p>Agreed that the payroll is $10 MM USD higher than last year, however, the CDN exchange rate is the same rate today as it was a year ago.<br />
Additionally, the Jays attendance for this year is greater by 594,000 seats filled compared to last year. Your comparison of the present annual attendance to 2015 average attendance is not applicable.<br />
Should the average seat price be higher by 10% (presently 2.2 Million seats this year- that would add approx. $5 MM USD to Revenue) plus the additional 594,000 attendees based on last year USD ticket prices averaging $22.50 or 13.2 MM USD more in revenue.<br />
Presently the Jays spent $10 MM more than last year providing depth and replacing Dickey for next year and have achieved $18.2 MM more in direct Revenue.<br />
This excludes ancillary revenue such as food and beverage increases as well as merchandise sales increase.<br />
On an annualized basis Jays revenue including F &amp; B , merchandise sales, and ticket sales for 2016, should provide a revenue increase by $30 MM USD for this year. Net Benefit for the team is $20 MM for the next year budget which could move to $160 to 170 MM.<br />
The Jays could sign 2 of 3 Free Agents EE, JB and Saunders for $45-50 MM. and with $5 MM for the bullpen still be within budget of $160 MM.<br />
The team would be 5 deep in Starting and Relief pitching, with Grilli, Osuna and Biagini, Bolsinger, Loup returning.<br />
Goins or Barney could be trade bait.<br />
Finally with greater viewership so far by 50% and the increase of advertising revenue being 40% higher.  The Jays also made money from the sale of the minority share of MLBLAM to Disney, the share is valued at $40 MM.<br />
No tag days for the Jays.<br />
Additionally, the Jays prospects in the farm system is much deeper, including next year&#8217;s first round pick and probably at least 1 supplementary pick, the farm system should move into the top ten by end of 2017.</p>
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