Zain Kapadia

@knattorneys

[Jake @EconomPic]

How do the Dodgers carry an unlimited payroll?

Filings uncovered by @NickNemo17 show roughly $1.45 billion in debt for American Media Productions, the entity behind SportsNet LA and the Dodgers' 25-year, $8.35 billion Charter deal, sitting on the balance sheets of 5 life insurance companies tied to or controlled by the Dodgers' own ownership group.

i.e. the Dodgers get a sweetheart deal on their TV rights from a media company their owners co-own, financed by insurance companies those same owners control.

Because ownership sits on both sides, as borrower and lender, the setup functions as a closed loop:

-When RSNs hit turbulence, banks enforce covenants or force restructuring. Here the lenders are insurers the owners manage, so the capital stays patient and cash flow to the team never gets choked.
-MLB taxes net local revenue at 34% but allows deductions for debt service and interest tied to running the network. Carrying $1.45 billion in media debt on AMP's balance sheet generates interest expense that shrinks reportable net TV income and the resulting revenue-sharing bill.

Then there's the payroll itself. Over $1 billion of it is deferred, owed to 9 players through 2047. Pushing that cash out frees up money today, some of which is going toward servicing that same debt, and kicks the actual bill to a stretch of decades many of today's owners won't be around for.

LA built a (seemingly illegal) structure that captures its own interest yield, shelters TV income from league revenue sharing, and helps fund payroll dominance in the process.

[The Ismaili @TheIsmaili]

With profound sadness, the Jamat is informed that our beloved 49th hereditary Imam, Mawlana Shah Karim Al-Hussaini, passed peacefully to Almighty Allah’s grace on 4 February 2025 in Lisbon, Portugal, surrounded by his family. Visit https://t.co/v5hpIQ7HI1 for more information.

[Zain Kapadia @zain_kap]

no working kiosks in Sandy springs then then south bound train comes on the wrong side. This is why @MARTAtransit has the reputation it does. Get it together

[Jo @JoJoFromJerz]

This cartoon. 🥺

[Zain Kapadia @zain_kap]

@BloggingDirty is the ceremony at halftime or before the game?

[Cary Nelson @CaryNelson20]

Matt Ryan will be inducted into Falcons' Ring of Honor on Thursday https://t.co/rpMFRt1m6e

[Laura Rozen @lrozen]

this was powerful

[Michael Huseby (Investment Fund Lawyer) @investing_law]

Once you have a critical mass of friends/family on each side of the aisle, you realize neither side is inherently “evil” or “stupid.”

Demonizing the other half of the country is intellectually sloppy (at best) and destabilizing.

It’s also just factually incorrect.

There are certainly extreme views on the fringes, but they aren’t the majority.

We must respect differing viewpoints.

We can reject ideas without comparing the holders of those ideas to Hitler or Stalin.

[Alyssa Farah Griffin @Alyssafarah]

This is genuinely hard to watch.

America deserves better than these two options.

[Zain Kapadia @zain_kap]

PSA to business owners: Do not use @Chase for your banking. They put limits on how much you can wire in any day. The thought that a bank would be able to limit accessing your own money deposited into a bank is mind blowing. AVOID AT ALL COSTS. @navidkapadia

[Michael Huseby (Investment Fund Lawyer) @investing_law]

PSA: If you are an owner of an LLC, you look like a goofball when you call yourself "managing partner" 😜

LLCs don't have partners.

[Zain Kapadia @zain_kap]

it’s been 3 months since I’ve emailed @delta asking about credit for a sky team carrier flight and delta hasn’t had the courtesy / decency to respond to an email. 8 emails in 3 months. Zero response. Classic corporate behavior to not respond when it’ll benefit for the customer

[Zain Kapadia @zain_kap]

This is why I prefer hotels to @Airbnb. @Airbnb collects massive fees but then acts like they have no responsibility to ensure quality or consistency from its hosts. There's such a concept as "brand standards" as this shows @Airbnb has no standards to speak of. Stay away.

[Jason, @jasonc_nc]

Possibly unpopular opinion: Churches and universities should pay property tax like everyone else.

[Zain Kapadia @zain_kap]

Switching to @UPS instead of @FedEx. We have been having serious issues with @FedEx inability to deliver packages on time even having paid a premium for first delivery. We may be a small account but @FedEx lost our business.

[Mike Beckham @mikebeckhamsm]

I’m not crying, you’re crying

This is the most memorable 2 minutes you will spend today

[Zain Kapadia @zain_kap]

@awkwardgoogle West wing is better than no less than 50% of these shows.

[Zain Kapadia @zain_kap]

@RahilBerani Sounds like a true Georgia bulldogs fan. Good job @Sehr25 #GoDawgs

[StripMallGuy @realEstateTrent]

I like the vast majority of attorneys I meet.

Many were the likable classmates we just knew were going places.

They worked hard in class, were super smart — good folks that could choose any career.

They chose law school because it seemed like the best option at 22.

Many now regret that choice.

Once you're in it, it's nearly impossible to walk away. What, waste those years of law school?

Three years in you're making $250k at the top firms, and any career change means starting over at less than half.

And what about those student loans? Gotta keep paying those back.

Law is very much a one-way street for most.

It's a great fit for many, and can be a wonderful career, but folks entering law school need to be told all of this.

They need to hear both sides.

It’s a much bigger decision than they realize when they’re applying to law school at 22 years old.

[Todd Herman 👓 @todd_herman]

During breakfast at my hotel in Phoenix I met a 91 year old man that just 🤯 my mind.

I noticed he was diligently filling out papers at his table. They looked like handouts from a workshop.

So I struck up a conversation with him, and then asked what he was working on.

He said, “I’m attending a leadership event, and I need to write out my 10 year vision, before today’s class starts.”

“Well hot damn! You’re an incredible inspiration to me.”

He genuinely responds with shock, “Really!?”

I said, “Of course! Most people think that our elder population doesn’t try to better themselves, or you can’t teach old dogs new tricks. But here you are traveling to a personal development event working on getting better. Thats so inspiring. I want to be like you.”

Then he got a tear in his eye, and held up his worksheet and showed me that he wrote:

“My 10 year vision is to be an inspiration to other seniors that you don’t need to sit in a dusty chair and wait for death to find you.”

Then he said, “Darn it! Maybe I need to adjust that demographic!”

I died laughing. And said, “I think you do! Plus… I put on events and host podcasts, maybe you can come speak.”

So stay tuned for something coming from Albert…

(Talking to strangers is the best!)

[Zain Kapadia @zain_kap]

@RahilBerani If the falcons did this then we’d be running QB draw plays for Logan woodside at QB with Justin fields as a “decoy” at WR