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Optimism and Hope: Larry Baer on the Financial State of the San Francisco Giants After NLDS Loss

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The Dodgers may have defeated the San Francisco Giants in the season, but the financial state of the team is still going strong. SF Giants CEO Larry Baer may have been disappointed, along with millions of fans, that the 107-game season Giants couldn’t pull off the series win but that doesn’t mean there’s reason to despair.

The Giants have spent years building a loyal fan base. Its leadership and management team have emphasized the value of the relationships at every level. From the players to the crowds in the stands, there’s a sense of family in the park that has kept the franchise going strong for years. Combine this with precise fiscal management, and there’s a lot of hope on the horizon for next season and beyond. Baer talks more about the financial side of his team and why the future looks so bright to him.

A Solid Foundation 

San Francisco might have been drastically altered due to the pandemic, but it won’t stay that way forever. Oracle Park, the home of the Giants, is both in a perfect downtown location and the $357 million stadium is already paid off. Mission Rock, a new mixed-use project across the street, is also already in the process of being built. This $3 billion blend of retail, housing, and park space is projected to keep Oracle a popular spot for many years to come. It will house everything from VISA’s world headquarters to office towers and residential buildings.

Baer has seen how Oracle Park fits in with the larger landscape of the city. People walk to games or take a cheap 5-minute Uber ride to the stadium. Mission Rock is projected to take about 10 years to complete, but once it’s done, it’s going to bring millions of people a year through its proverbial doors. The Giants have partnered with the developer (Tishman Speyer) to ensure the project is built according to plan.

A Great Run 

The Giants did lose money in 2020, as did every team in the MLB. Their average attendance across 81 home games was just over 20,000 people (compared to around 33,400 in 2019). The Giants weren’t able to play at maximum capacity until late June. Canceled public transportation, limited parking, COVID restrictions, and general fear of the virus kept people watching the games at home.

However, Larry Baer was quick to point out that this past decade has been very good for the team financially, so there was very little debt to speak of. The estimated worth of the Giants is just under $3.5 billion, which would put them at fifth place in the league. While there were financial losses in 2021 as well, Baer said that the team was ready for that. “We’ve had a very good plan, and we’ve been able to draw from various forms of capital.”

Now that late-night public transportation is up and running again, the NLDS saw full capacity. 42,275 fans packed the stadium during the finale, and the crowd was ready for action. It was tough to see their hopes for the World Series disappear after that last game with the Dodgers, but it will take a lot more than that to affect the future of the team. Larry Baer is optimistic that 2022 will see numbers return to their regularly scheduled averages.

Pending Decisions and Offers 

Currently, the Giants have been making headlines about what they plan to do with everything from their break-out stars to their undeniably talented veterans. Players like Brandon Belt and Buster Posey could be the key to making it even further in a run at the title for 2022, though there are no certainties as of now. Considering that Posey will be turning 35 soon and Belt will have the option to go to any team he chooses, it’s unclear whether the contract for Posey and re-signing for Belt will happen. What is clear though is that there are contingency plans for every potential outcome.

Larry Baer, SF Giants CEO,  is a master strategist who has built a career on negotiating. From contract offers for extension players to property developers, he’s known for looking at how each dollar adds to his mission of building the best possible team for Giants fans. It’s this kind of forward-thinking that has protected the team from financial loss during an absolutely unprecedented time period. It’s also what will keep Oracle Park a popular destination for many years to come.

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