I mean, the blue-ribbon panel that just filed its report and is still leaning catatonically against the juke box at Dexter's Midnight Lounge concluded recently that 27 of 30 teams have lost money in the last five years. They might as well have announced that 30 of the 27 were losing money for all that anyone believes them. I mean, if baseball were this sick an investment, the major leagues should have folded and reorganized as a keg league in downstate Illinois. But let's not go there now. The issue has become hopelessly convoluted in the NFL and NBA, where salary cap concerns affect everyone from Patrick Ewing to Sam Jacobson.
Baseball has no such cap, though, and all to the good.
This is what Paul Gigot, the WSJ talking-head, would call a liquidity problem. There will be more liquid soon enough. For two, without that spending, the Diamondbacks wouldn't have Curt Schilling, let alone Randy Johnson, and they'd be the Milwaukee Brewers. With all due respect to Davey Lopes, we have enough of them already, thank you very much indeed. For three, well, shut up.