After a reorganization of the ownership group -- goodbye Jerry Colangelo, hello Kendrick -- the Diamondbacks, according to Kendrick, raised more than $100 million in capital from fans in the corporate community in addition to the money "my partners and I put up."
Among other things, Kendrick said, it allowed the team to pay $25 million or so toward the debt owed on the deferred salaries. Arizona still owes more than $100 million in deferred salaries, Kendrick says, but has pared the debt down enough and scraped up enough dough from elsewhere to be able to grab a shopping cart at these winter meetings.
And eagerly roll down the aisles.
"Some of my favorite things to read about people are when one person passes away and everyone assumes he was without funds, and lo and behold, you find out they have funds," Kendrick said.
Now I don't know what's on your nightstand, but I'm guessing it's more in the vein of Sports Illustrated or The Far Side Collection than the obituaries.
But count the Diamondbacks as leaning more toward F. Scott Fitzgerald's The Great Gatsby than J.D. Salinger's The Catcher in the Rye. Money and glitz, baby.
As recently as a week ago, the general perception was that there was more chaos in the Diamondbacks organization than there is for the desperate housewives of Wisteria Lane. Let's see: Arizona set a club record with 111 losses last season; went over to the dark side and hired an evil agent as the CEO (Moorad); hired a manager, Wally Backman, whose tenure lasted a whole four days before the franchise gassed him following the revelation of a rap sheet; and the team's biggest chip, the Big Unit, has been whining about wanting out since last June.
How, exactly, do you sell free agents such as Ortiz and Glaus on this?
"Certainly, I hope it brings clarity," Moorad said of the Diamondbacks' vow to field a competitive team in 2005. "At the same time, we're not perfect. We've made some mistakes, and we'll make others.
"But we feel very good about these signings. This sets a good course. For all of the financial challenges the organization has, we've had intriguing opportunities with very little guaranteed money into the future."
The Diamondbacks' new mantra: "We promise to be responsible and not run up our charge cards." No more deferred money, they say. In every contract, the dollars will all be paid in the assigned years.
Still, short of them having mint hidden somewhere in Bank One Ballpark, it's difficult to understand how the Snakes are suddenly flush with cash. But they say they are, and unless the checks start bouncing soon, Ortiz and Glaus are here to prove it. And, according to sources the Diamondbacks are close to signing Royce Clayton to play shortstop.
Given Johnson's trade request, the cash flow dramas and the 111 losses last summer, these guys appear to be master salesmen. That, or magicians.
