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Jeff Moorad has resigned as chief executive officer of the Arizona Diamondbacks and says he has an agreement in principle to buy the San Diego Padres, according to the Associated Press. Moorad was a former players' agent; other Major League Baseball owners have therefore been wary of him. Nonetheless, he became chief executive of the Diamondbacks and did a good job helping to rebuild the franchise. He was required to resign that post to have exclusive rights to complete negotiations with the Padres. John Moores, Padres majority owner, confirmed that Moorad has exclusive negotiating rights. Moores owns a reported 90 percent of the team. He is divorcing his wife, Becky, who owns half of that 90 percent. She, John Moores and Wall Street's Goldman Sachs are working with Moorad to work out the sale.

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Comments

JohnnyVegas Jan. 2, 2009 @ 10:57 p.m.

I posted on the UT's page that Moorad was Leigh Steinberg's law partner, they were/are superstar sports agents.

Jerry Maguire was based on Steinberg's life, and Leigh and Moorad have a cameo in the last scene- at the end where Leigh introduces Troy Aikman to Tom Cruise when Cuba is getting interviewed by Roy Firestone. The HBO series Arliss also used Leigh as a model for the show.

He is the biggest name in sport agents, and him and Moorad worked out of newport beach-Steinberg still does-when he is not drunk (has had some serious legal troubles related to alcohol).

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Don Bauder Jan. 3, 2009 @ 9:25 a.m.

Response to post #1: I didn't know that Moorad was Steinberg's partner. Best, Don Bauder

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Burwell Jan. 3, 2009 @ 9:59 a.m.

Moorad is merely a front. Who is the real purchaser?

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inactive Jan. 3, 2009 @ 10:38 a.m.

From Leigh Steinberg in 2001: "Jerry Maguire is Cameron Crowe's creation. And he's a brilliant creation." " Those characters are his creations, and the wonderful lines that they speak are his creations. Those are his ideas, and it's his film."

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JohnnyVegas Jan. 3, 2009 @ 11:35 a.m.

Jerry Maguire is fictional, but it is built around the life of a superstar sports agent, and Steinberg was the consultant to the show-so I guess that is why I said it is based on Steinberg.

As for Crowe "creating" the Jerry Maguire character, I would suggest Leigh created more of it than Crowe did.

As an interesting side note about Jerry Maguire, the best person in the movie to me is Jerry Maguire's role model "Dickey Fox", who in realty is Columbia Pictures (now Sony Pictures) long time (35 years) lead in-house legal counsel, Harvard Law School educated Jared Jussim......swear to god, I'm not making that up!

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Fred Williams Jan. 3, 2009 @ 11:52 a.m.

So now that Moores is selling the Padres, I guess that makes his record 100%.

100% of his promises have been broken...this is just the latest one, that he was "in it for the long-haul".

The truth is that Moores has milked the Padres to bilk the city. They've served their purpose, acting as a front in a real-estate scam where he bribed elected officials to use eminent domain and issue city bonds to his sole benefit. He controls 26 blocks of downtown that we bought for him.

Now that he's got his mountain of cash thanks to the taxpayers and fleeced Peregrine investors, he's dumping the team and skipping town.

To all the Padres fans who told me I was somehow a bad person for opposing these giveaways, I'm sending out a great big, "told ya so."

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Don Bauder Jan. 3, 2009 @ 3:17 p.m.

Response to post #3: Moorad says there are other purchasers, but they have not been identified. I think you are right: Moorad doesn't have the kind of money to buy the team. So he will become another George Steinbrenner -- the CEO, but financed by a large group of partners (in the Yankees' case, several with dubious backgrounds.) Best, Don Bauder

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Don Bauder Jan. 3, 2009 @ 3:19 p.m.

Response to post #4: Would Steinberg be a an unimpeachable source on this matter? Best, Don Bauder

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Don Bauder Jan. 3, 2009 @ 3:22 p.m.

Response to post #5: If Steinberg was a consultant, my guess is that the character reflects the consultant. Best, Don Bauder

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Don Bauder Jan. 3, 2009 @ 3:26 p.m.

Response to post #6: But after this Petco Park fleecing, San Diego is being set up for another scam by the Chargers, with the establishment's enthusiastic help. Is anybody going to storm the Bastille? Best, Don Bauder

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Fred Williams Jan. 3, 2009 @ 4:26 p.m.

Re: #10

Storming our Bastille may be the only thing that stops corrupt city leaders from fleecing us with yet another bad stadium deal...I'm sharpening my pitchfork and gathering fuel for torches.

If my French Revolution history is correct, the primary catalyst was economic. The French spent their treasury on war, and when famine came to the land common people starved. The clergy and aristocracy was exempt from taxes, so the starving peasants saw their taxes raised.

Sound familiar?

I wonder when we'll see our own San Cullottes rise up and demand what is rightfully ours.

Hopefully, when our Bastille falls, John Moores' head will be prominently displayed at the end of a pike for his roll in the decline and fall of San Diego. He wouldn't be alone. I expect to see Jack McGrory and Steve Peace similarly disembodied, holding neckless conversations with Golding and Murphy, along with the members of the notorious City Council that betrayed us all.

But then, I'm an optimist...

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Don Bauder Jan. 3, 2009 @ 8:55 p.m.

Response to post #11: The Chargers just beat the Colts in overtime. Next week the Chargers play the Steelers, whose quarterback recently suffered his third concussion. I repeat what I said earlier: the Chargers look headed for the Super Bowl. Although the City is technically insolvent, the pols will find a way to give the team $1 billion worth of land. The fans will be maniacal and establishment pressure (under-the-table $) will be irresistible. The one thing left is the Chargers getting financing for the stadium itself. It won't be insuperable (no pun intended), although credit should not be extended for such a purpose in this economy. Best, Don Bauder

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genoz Jan. 3, 2009 @ 10:01 p.m.

The Chargers are now worth nearly 1 billion dollars. Let them buy their own stadium if they like. Arlington just paid 1.4 billion for their new stadium and if the taxpayers want to buy tickets to the game they first must buy a license for the right to buy tickets. The license costs $10,000 for each seat and then you can buy a ticket. I am all for sports but this is no longer a game of the middle class so why should the middle class support the team? How about we get our priorities in order. That means what is more important - football or schools - football or hospitals - football or fire services. Get real before we give away another zillion dollars we can't afford. Thanks for letting me rant. Gene

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Don Bauder Jan. 4, 2009 @ 7:55 a.m.

Response to post #13: I encourage your ranting on this topic. Back during the voting on the ballpark, I kept asking (I was then a U-T columnist) why, if the establishment wanted this project so badly, it could not finance it through a stock offering that would go to the local nabobs. There are several reasons this won't happen, of course: 1. It would be a laughably unprofitable investment; 2. Establishment folks, while disdaining government involvement in the private sector, behave exactly the reverse: they want government money for their pet projects; 3. People get rich on Other People's Money, particularly the taxpayers'. It's a basic principle. Best, Don Bauder

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inactive Jan. 4, 2009 @ 10:09 a.m.

5

Actually, Jared Jussim isn't the lead in-house council.His official title is Deputy General Counsel and Executive Vice President of the Intellectual Property Department of Sony Pictures. He is one of several deputy general counsel attorneys with each one heading their own area of expertise. They all currently report to Corporate Executive Vice President and General Counsel of SPE, Leah Weil. From the SPE press release "As the Company's most senior legal officer, Ms. Weil will oversee all legal and labor relations matters relating to SPE and its operating divisions worldwide, including motion pictures, television, home entertainment and digital entertainment."

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JohnnyVegas Jan. 4, 2009 @ 12:39 p.m.

The Chargers just beat the Colts in overtime. Next week the Chargers play the Steelers, whose quarterback recently suffered his third concussion. I repeat what I said earlier: the Chargers look headed for the Super Bowl

San Diego is hedng to Pittsurg (if balitmore keps winnning), and Pittsburcg hs an awfl offensive line, and I have said for months that hey wont win in th eplayoffs because of the O-line, I stand behind that.

As an all around team the Chargers are without a doubt the most taletned team in the NFL today-they are team to beat in the playoffs and the Superbowl-and there is no doubt in my mind that if they play the football they have played the last 5 weeks no one will touch them.

They dominated the Colts, and take out the fluke Colts TD when the Chargers D was snoozing, and the 1 yard line Sproles fumble and it would not even have been a close game.

I feel sorry for San Diego taxpayers if they win the Superbowl, because you know a billion dollar lease revenue bond will be jus around the corner for the insolvent city.

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genoz Jan. 4, 2009 @ 2:32 p.m.

Response to post #16 You are correct, the Chargers will ask for a new improved stadium and then the taxpayers will find out what happened in Arlington, the new Cowboy stadium. The Cowboys demand a "license" fee of $10,000 just to buy a seat. Now how many normal taxpayers are going to come up with ten grand for the right to buy a seat and then to purchase tickets? The Cowboys even paid for 1/2 of their stadium, the city came up with the rest of the money. Gene

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Don Bauder Jan. 4, 2009 @ 9:33 p.m.

Response to post #17: The New York Yankees are asking outrageous prices in their new subsidized stadium, too. Best, Don Bauder

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Don Bauder Jan. 5, 2009 @ 10:14 a.m.

Response to post #15: Weil may be the ultimate boss, as the press release says. But that doesn't mean Jussim hasn't been a powerhouse there. Best, Don Bauder

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Don Bauder Jan. 5, 2009 @ 10:18 a.m.

Response to post #16: I don't profess to know football, but I did suggest the Chargers could go to the Super Bowl even before they beat Denver. And there is no question that the establishment and its lap dog, the U-T, are trying to whip up public frenzy so a bankrupt city can hand an enormous subsidy to a team owned by a billionaire who is in much better financial shape than the city. Best, Don Bauder

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JohnnyVegas Jan. 6, 2009 @ 8:20 a.m.

then the taxpayers will find out what happened in Arlington, the new Cowboy stadium. The Cowboys demand a "license" fee of $10,000 just to buy a seat. Now how many normal taxpayers are going to come up with ten grand for the right to buy a seat and then to purchase tickets? The Cowboys even paid for 1/2 of their stadium, the city came up with the rest of the money. Gene ==================

Gene is correct.

BTW Gene , dou you know how the Texas Rangers paid for their stadium???

Our illustrious president got a 1/2 cent sales tax passed in the Arlinghton county where it was built, so Bushie and his lackeys could reap $150 Million windfall off the backs of the poor, who as you point out are priced out of these events today.

David Cay Johnston has a large chapter devote to this in one of his books, "Free Lunch" or one of the others.

Tax the many for the benefit of the few. Sort of like what our gov is doing to us wit public employees.

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JohnnyVegas Jan. 6, 2009 @ 8:24 a.m.

The New York Yankees are asking outrageous prices in their new subsidized stadium, too.

As stated above, David Cay Johnston has written extensively about stadium scams, and the Yankee scam he goes into great detail about. The land where the new Yankee stadium is being built was on public park land where kids and the rest of the city played and relaxed. It was donated to the city 100 plus years ago, for a dedicated park-but the politicians abrogated their duty to the people and were bribed by Steinbriener - and now there is another taxpayer paid for stadium.

I will find the David Cay Johnston book where he goes over this stadium nonsense and post it up later today when I have some time.

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Don Bauder Jan. 6, 2009 @ 3:46 p.m.

Response to post #21: Bushie raked in more than $20 million on that stadium scam. It was his only business project that was successful. He struck out on all the others. But the Texas people got fleeced in this one. Everybody should read David Cay Johnston. He has written much about the subsidized stadium scam, yes, but he has written much about the multifarious other ways in which the superrich, in league with the government, fleece the little people. I just wish more people would read Johnston. Incidentally, in that regard, be sure to read the two-page article by Michael Lewis and David Einhorn in the Sunday Opinion section (final pages of Week in Review) in the New York Times of Jan. 4. It is a great piece. I don't say that because the authors say what I have been saying, such as the SEC doesn't protect the public from Wall Street, but rather protects Wall Street from the public. It is a sweeping condemnation of our entire financial system -- well written and well thought out. Best, Don Bauder

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Don Bauder Jan. 6, 2009 @ 3:49 p.m.

Response to post #22: As noted above, David Cay Johnston is great. You might also check periodically fieldofschemes.com. It reports regularly on the sports subsidy swindles. Best, Don Bauder

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Don Bauder Jan. 6, 2009 @ 3:54 p.m.

Response to post #23: These suicides of the superrich, like many economic statistics, hark back to the 1930s. Best, Don Bauder

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Fred Williams Jan. 6, 2009 @ 4:41 p.m.

For incisive commentary on the public funding of sports stadiums, I recommend the following:

http://www.hulu.com/watch/47616/the-simpsons-the-burns-and-the-bees#s-p1-so-i0

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Don Bauder Jan. 6, 2009 @ 10:40 p.m.

Response to post #27: Pithy, that. Best, Don Bauder

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