Sunday, February 12, 2012

Padres' Moorad Flexes Spending Power, Gives Villanova Law School $5M

The mystery surrounding the odd halt to the close of the "layaway" sale of the Padres from John Moores to Jeff Moorad and Co. (both are JDs) has been one of the most interesting ownership tales in baseball history (many of those tales have come under the Allan H. "Bud" Selig era, I might add).

But, if Moorad is self-conscious about his ability to afford the Padres, he just gave a big $5 million donation to his Pennsylvania-based alma mater Villanova Law School to start a sports law institute in his honor, reports the Philadelphia Inquirer.
"This transformative gift will add to the continued academic excellence of the Villanova University School of Law and serve as a fitting legacy to Jeff Moorad's loyalty to his alma mater," said the Rev. Peter M. Donohue, university president.
The university said that the Jeffrey S. Moorad Center for the Study of Sports Law would be one of only a handful of institutes in the United States focused on sports law.

One of the rumors surrounding the unusual stalling is that there are rumors that Moorad's team does not have enough money to afford the Padres in Major League Baseball's eyes, coming off the disastrous purchase, bankruptcy and impending sale of the Los Angeles Dodgers involving the over-leveraged ownership regime of Frank McCourt. Maybe it is because "Moores" and "Moorad" are so close that they need to adjust MLB's Microsoft Word auto-correct spell-check feature and that's the hold up.

So, maybe Moorad is trying to show off to MLB that he can throw around $5 million like its the $1 the average San Diegan might throw to a sympathetic looking guitar player in the Gaslamp. Or, he just maxed out his American Express Black card.

(Photo by Ewen Roberts/Wikimedia Commons)

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