Press release from Marketwire
REPEAT: BMO Issues Moneyball All-Star Break Report
- BMO Private Bank Report examines relationship between payroll and performance in Major League Baseball - Toronto Blue Jays' $117.5 million payroll not meeting win expectations - Chicago teams: White Sox, Cubs both struggling
Tuesday, July 16, 2013
REPEAT: BMO Issues Moneyball All-Star Break Report10:00 EDT Tuesday, July 16, 2013
TORONTO, ONTARIO and CHICAGO, ILLINOIS--(Marketwired - July 16, 2013) - BMO Financial Group's Harris Private Bank today released its annual financial analysis of Major League Baseball's winners and losers at the unofficial half-way mark of the 2013 season.
"Major League Baseball is the closest thing to a free market in sports," said Jack Ablin, Chief Investment Officer, BMO Private Bank. "Large market teams have financial resources to attract and cultivate the best talent and build the best rosters. While the wealthiest teams in the American League generally have the best winning percentages, the National League is pretty much up for grabs so far this year."
With baseball's annual all-star game taking place in New York tonight, Mr. Ablin's Moneyball All-Star Break report examines whether money can buy a winning team. Here are his top and bottom performers of the 2013 season so far, based on payroll and performance:
- Boston Red Sox - At $150 million, the Red Sox have the second highest payroll in the league, behind the $228 million New York Yankees. With a winning percentage over .600, however, their results are superior to that of their regional rival.
- Texas Rangers - This mid-size market team has a larger-than-expected payroll and they are getting results. The Rangers are not scoring as many runs as expected, but they're managing to deliver the wins.
- Oakland Athletics - The preeminent "Moneyball" team usually delivers respectable results and this year is no different. Not only are they leading their division, they're doing it with one of the smallest payrolls in the league.
- Chicago White Sox - The Southsiders usually post respectable results in our analysis. Not this year. The White Sox have blown huge leads, failed to score runs and are among five teams that have scored fewer than 300 runs.
- Minnesota Twins - Minnesota, like last year, is not a good team. They're season is punctuated with losing streaks, leaving the Twins 11 games under 500 and 10 games out.
- Seattle Mariners - Seattle has a terrible run differential and they're 3 and 7 in their last 10 games. Besides King Felix, there's very little worth celebrating in Seattle.
The Toronto Blue Jays are in the middle of the pack - at least for payroll, but are underperforming at the plate.
- St. Louis Cardinals - This is a team that commands respect every year and this year is no different. Granted, the Red Birds ramped up their payroll, but they're also getting results. They're in the thick of a playoff race and they sport the best run differential in baseball.
- Pittsburgh Pirates -The Pirates boast the best record in baseball so far this season with a payroll that's smaller than most. Pitching is remarkable, giving up the fewest number of runs in the league. Offense is impressive and keeps getting better. The Pirates are the team to watch in the second half. Let's hope they can keep the momentum going.
- Atlanta Braves - The Braves are continual favorites and this year is no different. They lead the NL East as we cruise into the All-Star break. It appears that they're running away with the division. Their +72 run differential is second behind St. Louis and their team ERA is in the top 2 in the National League.
- Milwaukee Brewers - The Brewers have fallen pretty hard this year. Their incredible offense has folded like a card table, and they are suffering a -57 run differential.
- San Francisco Giants - Oh how the mighty have fallen. The Giants lack offense and that's hurting them. It's possible the team could turn it on in the second half, but their current lack of momentum is a problem.
- Chicago Cubs - Here we are again, and again and again. The Cubs are continual underperformers and this year is no different. It's been 105 years without a championship and this year their dubious record will go unbroken once again.
To access the report, please visit: https://www.bmo.com/privatebank/us/insights/market-trends or contact firstname.lastname@example.org.
About BMO Financial Group:
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rachael McKay, Toronto
Jim Kappel, Chicago
Ronald Monet, Montreal
Laurie Grant, Vancouver