I guess it could be worse...

[rkb]

www.djournal.com/pages/story.asp?ID=271897&pub=1&div=Sports

As on-field MudCats swim, team sinking in red ink
4/18/2008 6:05:57 AM
Daily Journal




BY JOHN L. PITTS
Daily Journal

TUPELO - Mississippi MudCats principal owner Jim Waide said he has "lost a world of money" on the indoor pro football team, but vowed to keep the team afloat for the remainder of this season.

"I am going to pay the people I am obligated to pay," Waide, a Tupelo attorney, said Thursday. "The coaches will get paid. The players will get paid. And the creditors we have, I am paying the bills as we go."

The MudCats take a 4-0 record into Saturday's home game against the Carolina Speed. It's the first of three consecutive Saturday night games for the team at BancorpSouth Arena.

Waide said he's incurred a net loss in the neighborhood of $250,000 - "a huge loss," he said - since getting involved last year with the franchise's founding owner, Georgia businessman Todd Ellis. Some of that, Waide said, involving covering debts incurred by the team last season.

Could mounting losses threaten the current season? "No, no, no," Waide said. "I am mortaging my house to make sure the bills get paid. There's no question about that."

A profit and loss statement provided by Waide Professional Sports LLC indicated total income of $155,265.15 since July 1, 2007. In the same period, total expenses have been $390,980.93.

Payroll expenses amounted to $157,436.44.

"There are expenses with this team that I could have avoided," Waide said, especially with respect to the salaries for head coach Brian Brents and his staff.

"Had I followed the league's advice, I could have saved a lot of money. But I knew we had to have a good team to make this work, and I have people who know the game telling me that the quality of play we have put on the field is superb."

But paid attendance for the first two home games, both in the range of 2,500, has fallen way short of what the team needed to make money, Waide said.

"If we had paid attendance of 5,000, then we could pay all the salaries," he said. "We've made about $6,000 a game for the first two home dates, and I am just going to assume that we won't make any money the rest of the season."

Which leaves the question of a third MudCats season, in 2009, up in the air. "As far as next season's prospects, I really can't answer that," Waide said. "Right now, we're going to focus on winning every game we can and doing what we can do to improve attendance."

Appeared originally in the Northeast Mississippi Daily Journal, 4/18/2008, section D , page 1


It looks like if we don't improve paid attendance, we won't have a team next year. There is time to fix this, but there are ony 5 home games left. Maybe we could wash cars, or sell cookies or something.

[Gene]

Unfortunately, it sounds like this time next year this forum will be down in the "Historical teams" section.

[picman]

They way things are going the whole league could be in that section

[mississippimudcat1]

Yeah, I saw this this moring. SOOO disapointed. I really hope they can pull through. Cause I don't want to see this team in the "Historical Colomn". I guess having a good team in the AIFA means going in the red.
:smileymudcats: :smileymudcats: :smileymudcats:

[breal]

Sounds like Tupelo needs to support the team and come to the games.

[mississippimudcat1]

Apr 18, 2008 19:52:29 GMT -5 breal said:

Sounds like Tupelo needs to support the team and come to the games.

Yeah, I have noticed that the attendance hasn't been great, but hasn't been horrible. Sure I miss a game everyonce and a while because I might be out of town, but usually I'm at the game. At most I will miss 2 games this year at home. We need to double our attendance to make up.
:smileymudcats: :smileymudcats: :smileymudcats:

[mudcatsrule]

i tend to think 2500 is pretty good.look at the size of most of the other cities take baltimore for instance what are they in population? i would say probably 25 times the size of tupelo and yet they only pull in 2000 to 2500 per game.second do you actually buy a team at this level thinking that you will actually make money? it just comes down to being able to say you own your own sports team and how much you are willing to lose to do that. good luck mudcats saturday night

[Catfish]

Well I took a little time to think just what I wanted to say in regard to the article I saw in the Journal. The way I see it the owner has thrown down the gauntlet on the future of the Mudcats. He has pledged to keep the team operational this season, and he has laid it on the table concerning his losses. It is now up to the city and surrounding area to determine if it wants indoor football. The attendance at the remaining games this season will determine the fate of indoor football in our area.

I have lived through all indoor sports attempts at the BCS Arena, and I believe we are at the crossroads of where we are as a community as it relates to indoor sports. For so many years we have complained there is a need for recreational and social opportunities in Tupelo (there is nothing to do). Soccer and hockey were tried, and failed. The chief complaint was these sports were not a favorite in the South because we did not grow up playing them. Point taken. Then football was tried the first time with the Fireants. People did not come and the excuse was it was not "real" football and they did not win.

The the Mudcats, with a 12-4 record and a home playoff game, come in last year and provides the area with a winning team made-up of great guys. Still not many come. Now we are at the crossroads. We have the facts before us and we must decide if we are going to be a bunch of complainers or are we going to put our money where our mouths are. I for one (and I am unanimous in this ;D) am not going to be a complainer, rather I am going to go to the game and support the team that gives me and my family something fun to do on a Saturday Night. I challenge all of the other folks in Tupelo and the surrounding area to do the same.

Go Cats!

[mississippimudcat1]

Apr 19, 2008 16:58:39 GMT -5 Catfish said:

Well I took a little time to think just what I wanted to say in regard to the article I saw in the Journal. The way I see it the owner has thrown down the gauntlet on the future of the Mudcats. He has pledged to keep the team operational this season, and he has laid it on the table concerning his losses. It is now up to the city and surrounding area to determine if it wants indoor football. The attendance at the remaining games this season will determine the fate of indoor football in our area.

I have lived through all indoor sports attempts at the BCS Arena, and I believe we are at the crossroads of where we are as a community as it relates to indoor sports. For so many years we have complained there is a need for recreational and social opportunities in Tupelo (there is nothing to do). Soccer and hockey were tried, and failed. The chief complaint was these sports were not a favorite in the South because we did not grow up playing them. Point taken. Then football was tried the first time with the Fireants. People did not come and the excuse was it was not "real" football and they did not win.

The the Mudcats, with a 12-4 record and a home playoff game, come in last year and provides the area with a winning team made-up of great guys. Still not many come. Now we are at the crossroads. We have the facts before us and we must decide if we are going to be a bunch of complainers or are we going to put our money where our mouths are. I for one (and I am unanimous in this ;D) am not going to be a complainer, rather I am going to go to the game and support the team that gives me and my family something fun to do on a Saturday Night. I challenge all of the other folks in Tupelo and the surrounding area to do the same.

Go Cats!

Very well said, I for one am surprised more folks don't come to the games. Honeslty I do enjoy the game much more after about mid May because school is over and I don't have to worry about any projects to do. So I can then go to every single home game. I really hope North Mississippi comes to the games.


P.S. If the Mudcats go R.I.P. I will go
:smileymudcats: :smileymudcats: :smileymudcats:

[rkb]

Question for you guys...
do you see or hear any advertising? Just wondering, because I don't. I listen to a couple of local stations in the mornings and my Zune in the afternoons. I know that the radio station I work for was not purchased by the team like they were last season.

Advertising makes a big difference, but it gets expensive on the highly rated stations.

for the record. I did not go to the game tonight because I am broke! I listened online. Great game!

[mississippimudcat1]

While we are all being honest, I didnt get to go either (HIGH SCHOOL PROJECT!!!). This time of the year is very hectic in High School because of all of the end of the year projects. Makes me mad because I really want to support our team. Like I said before I will miss about 2 games a year (mostly because of school related stuff). I cant wait till school is out so I can easily make it to all of the games.

P.S. I'm a Freshman, can't believe what the Senior Project must me like.
:smileymudcats: :smileymudcats: :smileymudcats:

[frostbite]

Could mounting losses threaten the current season? "No, no, no," Waide said. "I am mortaging my house to make sure the bills get paid. There's no question about that."

mortgaging his home to pay the football bills? my condolences mudcats fans, your team is toast. i hope this guy can make it thru the entire season since it looks like you guys have a decent team....

[thor!CRAZIES]

Just dont win the championship-----if the MUDCATS win the AIFA CHAMPINSHIP---they will definitely not return to the league next year----we know all about it

[The Stable Master]

honestly, the only way it could be worse is if you were losing or the owner just gave up. it is almost all but certain that he will not be running the team next year and i dont see anyone else trying if the current owner has lost $250,000.

[mudcatmaniac]

A couple of things to add to the article: The current owner has been paying backwards and forwards --- and we need consider this in the financials ... for instance:
- He paid for 100% of last years merchandise (shirts, caps, etc)- which was taken with the former owner.
- He paid for salaries from last year for months -
- He paid for last years uniforms, practice gear, helmets, warm ups, etc. which were taken at the end of the season and then purchased all new uniforms for the 08 season
- He paid for equipment from last year ( which left with the former owner) and then purchased equipment for this year.
- He has paid for the turf, the dashers, the signage, the salaries in full....... all dues are paid in full in advance, all balls were paid for in advance, in full....
- He paid the former owner for the name and logo.
- He took a loss with almost 100% of the season ticket holders who held receipts stating that they had paid Todd Ellis for 08 season tickets --- he gave them their tickets with little or no revenue.
- He honored all merchandise orders from the former owner who took payment and left town.....
- He took care of medical bills from the former season
- He funded the playoff game 100% from last year
- Player food is traded --- 2 meals a day for the year
- Travel hotels are traded

in short (or is it too late for that?) - he has paid for everything and has basically supported 2 teams in 1 year.

of course, these things weren't stated in the article but probably becasue they weren't given to the writer.

anyway - the article sounded bad - real bad --- but the truth is that Waide had to cleaned up a disaster left by Ellis and the reported loss isn't just for the 08 season --- it includes 'history'