The U.S. minor league baseball was hit hard by the suspension last year, the team owner hired lobbyists to fight for relief
The National Broadcasting Corporation Financial Channel reported on June 3 that a bank executive and minor league baseball team owner launched an effort to help save different teams by hiring lobbyists to ensure federal new crown relief at the start of the new season. fund.
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Greg Rosenbaum, who owns the Cincinnati Redskins farm, is the executive driving this work.
The minor league baseball, which represents more than 100 teams across the United States, suffered a severe blow last year due to the cancellation of the season due to the new crown epidemic.
A report by Sportico pointed out that last year alone, small baseball clubs lost a total of $800 million in revenue. The American Baseball Association reported in March that in the $1.9 trillion rescue plan recently signed into law by President Joe Biden, minor league clubs were excluded from receiving new crown relief funds.
The NBC Finance Channel reviewed a lobbying disclosure report signed by Rosenbaum this month and found that Rosenbaum was involved in this action. This report lists the addresses of Rosenbaum’s clients, which are the addresses of Palisades Associates, his investment company in Maryland. The name of the Rosenbaum listed company on the lobbying registration form is Minor League Baseball Relief, Inc.
The lobbying report shows that the venture capital firm led by Rosenbaum registered lobbyists from the influential Akin, Gump, and Strauss companies in April. Pagano, one of the lobbyists listed on the registration form, worked in the White House of former President Barack Obama. The other is directly related to Paul Ryan, the former Republican Speaker of the House of Representatives.
According to the registration report, the focus of the lobbying activity is to “provide emergency assistance to minor league baseball clubs affected by the new crown.” It is unclear how much help these lobbyists will seek from the federal government.
The form does not indicate whether these lobbyists will contact the Biden administration or Congress. None of them responded to CNBC’s request for comment.
After receiving Rosenbaum’s request for comment, a minor league spokesperson forwarded CNBC to him. In an interview with CNBC, the spokesperson of the minor league, Jeff Lantz, said that as far as he knows, many teams have participated in this effort.
Although Rosenbaum declined to provide more details, including the cost of the event, he did not deny that he was involved or that he was leading the event. On Thursday, he said in an e-mail to CNBC: “We have nothing to offer other than lobbying to disclose the contents of the document.”
A spokesperson for Major League Baseball did not respond to a request for comment.
Rosenbaum has connections with the Democratic Party and Wall Street. Mergr, a website that provides data on private equity transactions, said Rosenbaum was the founder and managing director of The Carlyle Group before founding Palisades Associates. He also worked for the Boston Consulting Group.
Rosenbaum’s role within the Democratic Party has largely gone unnoticed.
He is a member of the board of directors of the Center for American Progress Action Fund, which was previously led by current Biden White House adviser Nila Tanden. Rosenbaum also serves as the chairman of the National Jewish Democratic Committee and was nominated in 2016 as the vice chairman of the Platform Committee of the 2016 Democratic National Congress.
Data from the non-partisan “Responsive Political Center” shows that although Rosenbaum did donate to Biden’s 2020 presidential campaign, his donations were even greater before the most recent election cycle. When Hillary Clinton ran for president in 2016, he donated $33,000 to the Democratic National Committee. During Obama’s re-election campaign in 2012, Rosenbaum donated $25,000 to the Democratic National Committee.
Rosenbaum and his colleagues bought the Ohio-based Dayton Dragons in 2014. The team is the A-level branch of the Cincinnati Redskins of Major League Baseball.
ProPublica data shows that Palisades Arcadia Baseball LLC, the owner of Dayton Dragons, has indeed received a federal salary protection program loan worth more than $860,000. The PPP loan application portal was closed a few days ago.
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