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McCourt to Boras: Drop Dead

Discussion in 'Sports and News' started by heyabbott, Feb 27, 2009.

  1. I think Mark Teixeira has a different opinion of Boras these days than is being expressed here. Frank McCourt is a noisy balloon who thinks all of life is a real-estate deal. He'll pony up.
     
  2. BYH

    BYH Active Member

    I don't believe for a second that Boras hasn't steered his guys to Stanford.

    I agree that one should never bury Boras, but I really wonder if the news of A-Rod's positive test wasn't as much to nail Boras as it was to nail A-Rod. Boras is so proud of his multi-tiered agency, one that offers its very own personal trainers to the stable of stars. At some point, if enough Boras clients are outed, don't we begin to wonder where they all got the goods?

    Combine that with his clients potentially losing their fortunes with investors whom Boras recommended and I wonder if the beginning of the end is on the horizon. Because it's one thing for a player to get nailed for steroids. quite another to see his 11 figures dwindling to five thanks to a guy Boras recommended.

    Or I could just be crazy. Will be interesting to see the names of the other 103, though.
     
  3. poindexter

    poindexter Well-Known Member

    Sure he does.

    And Jason Varitek, who was advised to decline arbitration this year, has a different view about Boras than Teix.
     
  4. poindexter

    poindexter Well-Known Member

    Damon and (Nady?) had their funds frozen because of some sort of Stanford involvement. That is a huge black eye for Boras' firm. Damon didn't find Stanford from combing the yellow pages.
     
  5. cranberry

    cranberry Well-Known Member

    It requires an awful lot of extrapolation to get to the point where Scott Boras is liable for any of his clients' PED use and/or financial decisions. And there's nothing out there at this point that suggests any of it to be true.

    Well, we really don't know the answers to how or why they retained their teams of financial advisors, money managers and accountants. We don't even know very much about the level of involvement with Stanford of any of the players or what their exposure might be, either.
     
  6. poindexter

    poindexter Well-Known Member

    http://mlb.mlb.com/news/article.jsp?ymd=20090221&content_id=3861654&vkey=news_mlb&fext=.jsp&c_id=mlb
    The players are both represented by the Scott Boras agency, which referred them to Stanford companies.

    That's not good for business.
     
  7. cranberry

    cranberry Well-Known Member

    http://www.nytimes.com/2009/02/26/sports/baseball/26boras.html?ref=sports

    The players did not invest directly in Stanford funds, but their investment advisers used Stanford as their broker-dealer. Regulators, who have frozen all of Stanford’s accounts, are trying to unravel what role, if any, the Stanford group’s broker-dealer played in the $8 billion financial fraud that Stanford is accused of orchestrating.

    “There’s no risk of loss in their funds, but the government, in an attempt to protect everyone involved, put a wide net over the funds,” Boras said in a telephone interview. “Then, of course, in a short period of time that net will shrink.”
     
  8. BYH

    BYH Active Member

    Maybe on point A. Absolutely not on point B. Is it that unreasonable to assume that an agent who knows where every dime is located is going to steer his players to a selected money manager? As Poindexter says: These guys aren't finding Stanford on their own.

    As for point A...Boras is involved with every facet of his clients' lives. At the very least, he should know what his clients are putting into their bodies...if he's not overseeing their nutritional programs himself.

    He can't brag about his all-inclusive operation and then say, oh, they're on their own when it comes to managing their money or putting shit into their bodies.

    I'm just saying it's going to be very interesting to see the 103 names.
     
  9. cranberry

    cranberry Well-Known Member

    Boras Corp. is getting to be a pretty large outfit. Like a lot of agents Boras Corp. offers integrated services for players who would like more a one-stop shopping relationship but, typically, the primary agent, Boras, wouldn't have anything do with that area. He's in charge of doing the big players' contracts while other people are in charge of various departments.

    Within financial services there are probably a couple dozen people with built-in checks and balances -- financial advisors, money managers, accountants. I doubt Boras is saying, 'Hey, I know this Stanford guy who ..."
     
  10. poindexter

    poindexter Well-Known Member

    You can list any quote you want... If the following sentence is true:
    The players are both represented by the Scott Boras agency, which referred them to Stanford companies.


    Then that is not good for business. Damon and Nady may not lose a penny. But when you steer your clients to financial firms known for ponzi schemes, that is a disaster for your reputation among other people with money.
     
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    According to Boras, his firm just audits statements that come in from whatever financial advisors his players choose on their own.
     
  12. Armchair_QB

    Armchair_QB Well-Known Member

    His name is on the company, in the end he is responsible for the people working for him.

    And I find it hard to believe a guy like Boras wouldn't take a very keen interest in every aspect of his highest-profile clients' financial situation.
     
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