The Seattle Times has a report on the Seattle Mariners key minority owner Chris Larson and his mounting debt. Court papers in his divorce show that Larson, a minority owner holding over 30% of the baseball team, lived a lavish lifestyle but the recent downturn in the economy has hurt his finances.
Via Geoff Baker at the Seattle Times:
“During the current recession, our net worth has been severely impacted by the decline in the stock market and other factors and we have had to sell assets to pay down debt,” Larson states in documents from the divorce, slated for trial in November.
Larson earned his fortune at Microsoft but now finds himself with more debt than assets. Its an interesting read and an unfortunate situation for Larson and his family. For the Mariners, its a concern that one of its key minority owners is having trouble financially. This may indirectly effect the organizational direction of the team.