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Top 50 Highest Paid Athletes

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May 16, 2013
floyd mayweather, GWOP, kobe bryant, lebron james
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Floyd Mayweather Jr. is the highest-earning athlete in American sports for the second straight year.
The boxer is projected to make $90 million in 2013 according to Sports Illustrated’s annual list released Wednesday. Miami Heat star LeBron James is a distant second at $56.5 million.
New Orleans Saints quarterback Drew Brees vaults into the rankings at No. 3 at $47.8 million thanks to a new contract signed before last season. Kobe Bryant of the Los Angeles Lakers is fourth at just under $47 million.
Tiger Woods is fifth with $40.8 million, his lowest spot since SI started the list in 2004. He was No. 1 through 2011.
The top 50 include 25 baseball players, 13 basketball players and eight football players, with no female athletes for the fifth consecutive year.
The estimates combine salary, winnings and endorsements. Checkout top 10 list of earning athletes after the jump. Read More

1909 Honus Wagner baseball card sells for $2.1 million

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April 7, 2013
GWOP
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A rare 1909 baseball card, known as the “Holy Grail” of baseball cards, has sold for a record $2.1 million, the auction house that conducted the sale said Saturday.
The 1909 card of Pittsburgh Pirate shortstop Honus Wagner was auctioned by Goldin Auctions in West Berlin, New Jersey for $2,105,770.50 to an unnamed buyer. Bidding started at $500,000 on Feb. 25.

There are only about 50 Honus Wagner T206 cards in existence. The card is in such short supply because Wagner made the American Tobacco Company recall it when he discovered it had made the card without his permission. He didn’t want kids to buy cigarettes, the auction house said.

The card was released as Wagner was on his way to winning his seventh batting title and about to lead the Pirates to their first World Series win. It’s garnered such a place in baseball history that it has its own plaque at the Hall of Fame in Cooperstown.
“To have surpassed the highest price ever paid for a baseball card at auction by nearly $500,000 is a spectacular outcome,” said Goldin Auctions owner, Ken Goldin in a press release following the auction.

The card went for $1.62 million the last time it was up for public sale, which was in the midst of the financial crisis in 2008. Goldin had estimated that this time the card could go for well over $2.6 million.
Source : CNNMoney

Justin Verlander Gets $202 Million Deal

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March 29, 2013
Justin Verlander
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Justin Verlander and the Detroit Tigers have reached agreement on a new contract that could exceed $202 million, sources told ESPN.

Verlander’s deal, which would make him the highest-paid pitcher in the game, is for seven years and worth $180 million, sources said. A vesting option for an eighth year could push the deal to $202 million.

Tigers’ Miguel Cabrera Wins Triple Crown

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October 4, 2012
miguel cabrera
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Detroit Tigers Third Baseman 3B earned himself The Triple Crown it hasn’t been won in 45 years. He finished the season with 44 Homeruns 139 RBI’S and with a Batting Average of .330 The last player to win the Triple Crown was Boston Red Sox Left Fielder Carl Yastrzemski Miguel Cabrera is the First Third Baseman to ever win the Triple Crown.
Congrats.  Go Tigers!

Magic Johnson, Basketball Legend is Now Owner of LA Dodgers

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March 28, 2012
Earvin Johnson
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source
An investment group that includes NBA Hall of Famer-turned-businessman Earvin “Magic” Johnson will buy the Los Angeles Dodgers baseball team from bankrupt owner Frank McCourt. And it won’t be cheap. Per a Tuesday night agreement with Major League Baseball, the team and its facilities will go for $2 billion, shattering the record for the most expensive sports franchise ever purchased.

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Prince Fielder agrees to $214 million deal w/ Detroit Tigers

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January 24, 2012
GWOP
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Prince pictured above as a kid, son of former Detroit Tiger Cecil Fielder

MLB
DETROIT — The Tigers spent a week reacting to Victor Martinez’s season-ending left knee injury. Their eventual reaction was big enough to be worthy of a Prince.
After supposedly looking for a short-term solution to the void in the middle of their order, the Tigers went big, physically and financially, with All-Star slugger Prince Fielder. On Tuesday, the two sides agreed to terms on a nine-year contract worth $214 million. Congrats!

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Albert Pujols agrees to 10 year $254 million contract

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December 8, 2011
Albert Pujols
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source: Fox

Three-time NL MVP Albert Pujols agreed Thursday to a $254 million, 10-year contract with the Los Angeles Angels.

Pujols’ contract, which is subject to a physical, is the second-highest in baseball history and only the third to break the $200 million barrier, following Alex Rodriguez’s $252 million, 10-year deal with Texas before the 2001 season and A-Rod’s $275 million, 10-year contract with the Yankees before the 2008 season.

The Angels announced Thursday they were signing Pujols away from the St. Louis Cardinals, who he led to a World Series title this fall.

 

LA Dodgers owe $555 million, Most indebted Baseball team in history

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November 17, 2011
GWOP
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Spotted: Forbes
Whom ever buys the Los Angeles Dodgers in a bankruptcy court-led sale from Frank McCourt will have a stack of IOUs to deal with.

The baseball team and its related entities now owe $555 million, according to people familiar with the finances.

McCourt securitized a large portion of the team’s ticket revenue in two trusts for which there is $390 million of debt attached. Annual principal and interest payments on the debt is around $32 million a year, meaning in 2010 the team, which gets the ticket revenue after the debt payments, would have received $70 million of the $102 million the Dodgers pulled in from ticket sales. For 2011, as attendance fell 17%, the team would have only received about $50 million.

The Dodgers also have borrowed $55 million from Major League Baseball’s credit facility and have used $80 million of debtor-in-possession financing from the league. On top of that, McCourt borrowed $30 million from Fox so he could meet payroll this past season. And the team is not off the hook from paying into MLB’s revenue-sharing system, which cost the Dodgers over $30 million in 2010.

All of these liabilities make the Dodgers, which forbes valued at $800 million in March, the most indebted team in baseball history.

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