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Essay / Research Paper Abstract
This 5-page paper examines the financial statements of the mid-1980s team the Kansas City Zephyrs. Based on the off Harvard Business School case, the paper attempts to analyze the differences between the owners' financial sheets and those that would be appropriate using GAAP.
Page Count:
5 pages (~225 words per page)
File: D0_MTkczep.rtf
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Unformatted sample text from the term paper:
sports today has come down to is a game of numbers -- accounting numbers, to be precise. In this paper, we will examine a specific example of this, namely, a
Harvard Business School case study focusing on the Kansas City Zephyrs Baseball Club of the mid-1980s. The study itself focuses on financial problems the club had suffered from -- namely
accounting disputes. The main issue that had to be resolved was the actual profitability of major league baseball teams -- while players believed they should share in the teams
profits, owners maintained that teams actually lost money each year. In fact, the owners produced financial statements to prove their point, but the players countered by indicating that the
statements did not actually reflect economic reality of the teams. The arbitrator in this particular issue, a man by the name of Bill Ahern, needed to determine what the
actual truth was -- as it would impact ongoing contract negotiations as well as teen contributions to the players pension fund.
One problem facing the owners, specifically the owners of the Zephyrs, was because I did not own the stadium that the team played in -- meaning stadium costs involved rent
of not only the facilities but any concession stands and concessions that might be used. Therefore, transferring any stadium costs would be little more difficult than it would be
if the team owners actually owned facilities. Layer compensation for Zephyr team members amounted to $10.9 million which was the cash outflow during 1984 for salary -- for the higher
pay players, a portion of the salary was deferred for 10 years, helping them save taxes and also providing them with income after their playing career was over. In the
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