Back in September, Stuart Sternberg referred to Andrew Friedman as a “partner” which led us to speculate that part of Friedman’s handshake agreement with Sternberg actually includes ownership in the club.

And now we get confirmation from Scott Miller of CBS Sports (via Twitter).

Andrew [Friedman] has a sweet deal with Rays including stake in club

This really shouldn’t come as a surprise. With any young company without a lot of money laying around that is looking to build its infrastructure, one way to entice the talent is with equity. And so it would make sense that Friedman (and probably Matt Silverman also) would be given a piece of the team in lieu of an actual large salary.

And all of the sudden, the idea of Friedman’s free agent status (he does not have a contract with Rays) and the thought of him leaving for another club doesn’t seem so scary.

 
 

6 Comments

  1. Sarah says:

    Phew indeed.

    I know Stu is not our favorite person these days, but he’s certainly a smart guy, and I couldn’t imagine that he wouldn’t have Friedman secured in some way.

  2. Ashlyn says:

    Still think possibly the Angels were feeling out Andrew but were picking his brain for possibly someone in the Rays organization that might be qualified to take the GM job in Anaheim if Andrew wouldn’t take it. Rays have alot of smart, and almost interchangeable FO people.

  3. Thad says:

    If Stu and the ownership group has granted Friedman “sweat equity” as its called (and that is perfectly plausible given the circumstances), it’s also likely that Friedman’s “sweat equity” comes with a vesting schedule. Friedman’s stake in the company accrues over time according to the vesting schedule and is contingent upon his continued service with the organization. Standard business practice to incentivize employees and ensure retention in organizations where cash is not plentiful.

  4. td32 says:

    For what it’s worth, Friedman was asked this on The King David Show, and he wouldnt comment on the ownership aspect, but he did say he was free to leave the Rays if he wanted.

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