Has Been Involved in Other Baseball Teams, 20 Things You Didnt Know about Launch House, 20 Things You Didnt Know about Fanatics Trading Cards, 10 Rules of Success According to Oprah Winfrey, 10 Things You Didnt Know about Reed Shaffner, Researchers Have Proven Its Possible to Mind-Control Living Beings Using Optogenetics. Bob Castellinis son, Robert S. Castellini, didnt become successful right away. Their combined net worth is not publicly available information. Paul was a partner in an Ohio-based law firm before joining the team as vice president and general counsel in 2000, eventually promoted to the club president. 6-keys: media/spln/mlb/reg/free/stories, By pressing sign up, I confirm that I have read and agree to the. As the value of the organization has grown since then, its possible the Reds owners net worth has also increased. For children, baseball players are idols and role models, like firefighters, teachers and movie stars. If you missed the insight in all the math, heres the shorthand: By saving money on payroll this year, the Reds are attempting to recoup their operating income for 2020 and 2021. The solution that makes the most sense is for the players and owners to agree to a salary cap. placement: 'Right Rail Thumbnails', Middleton became a 48 percent shareholder in the Phillies in 2014 and their control person in 2016. Background [ edit] These newer owners did not receive any voting shares, though. Learn how your comment data is processed. When he's not watching baseball, you can find Mike and his wife frequenting different restaurants and coffee shops in the area. There is a major fallacy in this logic, though. The basketball icon still tops the list of many fans as the greatest of all time. Together, they have four children. The Reds are the perfect (or rather imperfect) blend of consistent losing and failure to advance in the playoffs. Later, the judge let them go without any sort of settlement of a cash bond. July 25, 2021 In a sports-industrial complex full of multi-millionaires who became owners, the Browns are a football family who became multi-millionaires. Between failure to field a competitive team, lack of spending and Phils 2022 Opening Day tirade, Reds ownership has captured media attention for all the wrong reasons. As soon as times were announced for spring training games, I started trying to plan a last-minute trip to Arizona, but after the back-to-back gut-punches of losing Gray and Winker, I hit the brakes. If you took that same $3.14 billion and created a new MLB owner, his/her net worth would be 7.8 times larger than Bob Castellinis. Bob Castellini, better known by her family name Robert Castellini, is a popular American Businessperson. }); Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License. To make things more complicated, not all of the owners have voting shares. The principle owner and chairman of the Reds is Bob Castellini. Phil grew up with his brother, Robert S. Castellini and his sister, Patricia Castellini, also known as Patricia Headley, and his parents in Cincinnati. You just have to play smart. The truth is, these people have a legitimate point. And yet, hours before the aforementioned home opener, a member of the family that owns theRedscast a shadow over everything. But, they have chosen not to reveal anything about their marriage. As mentioned earlier, he has two other siblings. Castellini's net worth ranks dead-last among all Major League Baseball principle owners. Opening Day in Cincinnati is essentially a holiday. Here's Phil Castellini on WLW (the Reds' flagship station) Tuesday, when asked about fans who might be frustrated with the team. But so much of the baseball loot comes from TV and elsewhere, how big of an effect is attendance after all? 2023 GOBankingRates. Although Mike passed away in 2017, family matriarch Marian Ilitch still owns the chain, which does about $4 billion in annual sales. Heres what he posted about the recent trades: Im sorry Reds fans. And they came this close to working and didn't. Cincinnati has made the playoffs four times in 15 years, losing in the division series in 2010 and 2012 and the wild-card round in 2013 and 2020. As fans, we experience conflicting loyalties. If you want to look at what would you do with this team to have it be more profitable, make more money, compete more in the current economic system that this game exists? Cohen took over the Mets in late 2020. Is a Lifelong Fan of the Cincinnati Reds, 8. It wouldn't be too difficult to discuss the direction of the team, throw support behind general manager Nick Krall and even express hope for the future due to players like Hunter Greene and Nick Lodolo. Since then, the Reds have had a losing record 10 times, a winning record four times, made the playoffs four times (one of those four was 2020's expanded playoffs) and have gone 0-4 in playoff series. Methodology: For this piece, GOBankingRates used Forbes The Business Of Baseball 2022 data to find every MLB teams (1) owner name; (2) when the owner bought the team; (3) price the owner paid for the team; and (4) the team value in 2022. Castellini has an economics degree from Georgetown University, which is named for the neighborhood in Washington, D.C. rather than the city in the state of Kentucky. All Right Reserved. In addition, Bobs wife, Susan, gave birth to their three kids in many decades of their togetherness. The record of past losing and our loss didnt factor into their plans. Even if they did, it would likely be so high that it wouldnt change things dramatically. For the wealthiest people in the world, however, the ultimate trophy is the team itself. With this context, it makes sense why the Castellini family feels like it cannot compete on payroll with other teams and can be competitive only through better scouting and player development. }); window._taboola = window._taboola || []; As a Reds fan, though, I have no confidence in this groups ability to execute on this strategy. For More Updates OnCelebrity Babies,Feuds,Their Riches,Siblings, AndEntertainment, Keep In Touch WitheCelebrityMirror. We can't expect perfect answers. In addition, the Reds witnessed the growth in ticket sales, merchandise, corporate partnerships, and concessions which reflected the invigorated culture within its business operations. Position-wise, Castellini started out as the executive vice-president before becoming president. _taboola.push({ Also Read: Interesting Facts About Jerry Reinsdorfs Son, Michael Andrew Reinsdorf. We recommend you to check the complete list of Famous Businessperson. There's no question the Reds have more prestige and play in a market that would land more than the Marlins did. As for its meaning, Castellini indicates that the original recipient lived either in a castle or at some place that was situated close to a castle. A collector of significant sports memorabilia, Kendrick and several partners own a company that authenticates and grades coins and other collectibles. Please try again later. The family left in charge a pleasant, but ineffective errand boy. (adsbygoogle = window.adsbygoogle || []).push({}); Bob Castellini, born Robert Castellini, has been the CEO of Cincinnati Reds since 2006. Bob Castellini 's kid, Robert S. Castellini, was born in 1968. Reliable financial information on the Buck family is unavailable, but John Middleton has a net worth of $3.4 billion. also know about his Social media accounts i.e. target_type: 'mix' Depending on how, Read More 20 Things You Didnt Know about Launch HouseContinue, Fanatics Trading Cards is a division of an established sports company that designs, produces, and distributes jerseys, fan gear, and trading cards across retail venues. Castellini said last year about 30-35% of the monies from the BAMTech sale were distributed to the ownership group and the rest were put into the team. 2021 marks 15 seasons that Castellini has been principal owner of the Reds. Then, the Reds named him the Senior Vice President of Business Operations. container: 'taboola-right-rail-thumbnails', I doubt it . Even without Nick Castellanos, the Reds returned a strong team. Maybe they realize that. His wealth, using the $400 million figure, is still dwarfed by the Reds competitors. Its a fun hobby, curating and celebrating moments throughout the history of the sport. Homes - Celebrity - Sports - Baseball Links: en.wikipedia.org By: Xeba73 Advertisement Celebrity Homes Mailing List Comments Policies Your Name Comment Advertisement Nearby: David W. Frisbie's House I understand how our fans feel and I am sorry.". My belief that I could be competitive in my offers for these baseball relics was quickly swept away, as my high bids were consistently beaten by large margins. In 1947, Rupert Johnson Sr. founded Franklin Templeton Investments, also called Franklin Resources. By default, Castellini isnt a patient person. The current structure is driving fans away from the game. In 2017, his company finished work on the controversial 1,172-mile, $3.8 billion Dakota Access Pipeline. (1) Bob Castellini remains 100% devoted to giving Reds fans a winning team and he expects hard work and top performance from his players and front office to accomplish that. Meanwhile, it should come as no surprise to learn that Castellini comes from the Italian peninsula. Please check the opt-in box to acknowledge that you would like to subscribe. He still owns 40% of the $2.5 billion team, which is won six NBA championships with Jordan, and became one of basketballs most iconic brands. Please scroll down to see information about Bob Castellini Social media profiles. For example, it was recently reported that The Castellini Group eliminated 150 jobs at its Campbell County warehouse. Carlos Correa is the most recent, signing a 12 year, $315 million deal with the Mets. According to Celebrity Net Worth, Bob Castellini is worth $400 million. A double-edge sword that cuts the fans both ways. In case youre wondering, the 2022 data is not publicly available just yet, so we cant say for certain what happened that year. In addition, most others also build through player acquisition in free agency or with long-term contracts of home-grown talent. Henry & Co. His Fenway Sports Group owns the major stake in NESN the New England Sports Network and in Roush Fenway Racing in the NASCAR circuit. In August 2014, police arrested him and his former wife, Deanna, for domestic violence. Bob Castellini serves as the CEO of Major League Baseball's . Aside from the As, he also holds smaller shares in two soccer teams. Hes still the chairman and CEO of Liquid Investments, which now controls several subsidiary distributors and other businesses. They clearly no longer see their operation of the team as a public trust, if they ever did. Davis got rich in the energy industry after founding pipeline company and natural gas distributor Energy Transfer in 1995. In 2006, his company paid $2.9 billion for TD Waterhouse and later became TD Ameritrade. No family has earned more money in sports than the Steinbrenner clan . An above-replacement Cincinnati Reds blog. can more easily wrap our heads around. In 2007, John Middleton sold the company to Altria, the parent company of Philip Morris, for $2.9 billion in cash. After the 2005 season, Cincinnati Reds hired Bob Castellinis son, Phil Castellini, as the Senior Director of Business Operations of the team. Dont believe me? Hes now the chairman of Trilogy Equity Partners, a private equity firm that specializes in early-stage wireless investments. He has a net worth of $1 billion, according to Forbes. Bench added later in the interview that he thinks Pitchcom technology is "cool." Patrick asked Bench what he thought about Castellini's response to fans insisting that his family sell the Reds . target_type: 'mix' Businessman And Current CEO Of The Cincinnati Reds, Wiki, Biography, Age, Family, NetWorth & Know More. From the outset, let me be as clear as I can be: The Cincinnati Reds have no future as long as the Castellini family is in charge of the team. Of this group, Bob Castellini has the majority, giving him the controlling interest in the team. Copyright 2017-2018 Free Articles by ecelebritymirror.com, All rights reserved. Yet, when fans dont show up, they are criticized for not supporting the team. Besides enormous wealth, Bob has also made a huge name for himself in the sports world, and as a result, people want to know about his personal life, especially his marital life and kids. Cincinnati was home to the baseballs first professional team. Instead, the teams owners sent off great players, slashed payroll and dashed our positive expectations. (L-R) Nick Castellanos and Bob Castellini. Bobs son, Phil, must be living a wonderful life with his wife, Britt Castellini. Think about it this way: Two UFC fighters meet in the octagon. container: 'taboola-below-article-thumbnails-3rd', In spite of this growth, Castellini is reported to have a tiny net worth in comparison with other MLB team owners. Primarily, people will recognize him because of his role as the CEO as well as one of the owners of the Cincinnati Reds, which is very much a personal passion for him. Wow. Is Kristie Mewis Dating the Aussie Star Sam Kerr? Line up those figures, even allowing for inflation and asset appreciation. Bob Castellini is a businessman who comes from Cincinnati over in the state of Ohio. How Much Do These 30 Star Athletes Pay in Taxes? 2004-2023 CBS Interactive. He is chairman of the board of Liberty Media, which also bought the Formula 1 race circuit for $4.4 billion in 2017. In light of this, lets explore Castellinis time as the Reds owner and discuss if selling the team may be the best option for him. Businessman And Current CEO Of The Cincinnati Reds No family has earned more money in sports than the Steinbrenner clan, whose late patriarch George Steinbrenner built the New York Yankees into the most valuable team in baseball for No family has earned more money in sports than the Steinbrenner clan, whose late patriarch George Steinbrenner built the New York Yankees into the most valuable team in baseball for more than two decades running. Robert Castellini was previously married to Deanna Castellini. At the time, Bob was only 10 years old. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. with lot of social media fan he often posts many personal photos and videos to interact with her huge fan base social media plateform. At the age of 79 years, Bob Castellini weight not available right now. In 1856, his great-great-grandfather founded a small retail tobacco operation called John Middleton Inc., which would go on to create the Black & Mild cigar brand in 1980. Robert got married for the second time to his long-time girlfriend, Jen Castellini. Joe Ricketts was an early online stock-trading pioneer and the founder of the brokerage firm Ameritrade, which went public in 1997. As mentioned earlier, he has two other siblings. His son, Phil, is the president and chief operating officer, who runs business and ballpark operations. Bob Castellini is widely known for leading a group that purchased a majority share of Major League Baseball's oldest franchise, the Cincinnati Reds, in early 2006. The Castellini siblings must have had a great childhood while growing up together. The Academy, which was established in August 2014 in Roselawn, is the first in Midwest, and it was established as part of MLBs Urban Youth Academy Program. Although most of that fortune is now tied up in the Angels, he made his early money through billboard advertising. And he is a bull in a china shop that has his way to do it and that way's to grow your own and he's doing just that.". Phil was engaged in civic activities in the community. Also Read: Jerry Reinsdorfs Daughter, Susan Janeen Reinsdorf. target_type: 'mix' The actual figures for the teams financials are likely different than Forbes estimate. Profitability and for the owners to make more money! Mark Attanasio is the principal owner of the Brewers, but he made his money in, well, the money business. During the offseason, the Reds traded former All-Star pitcher Sonny Gray, outfielder Jesse Winker, third baseman Eugenio Suarez and reliever Amir Garrett. Castellini said. Primarily, people will recognize him because of his role as the CEO as well as one of the owners of the Cincinnati Reds, which is very much a personal passion for him. _taboola.push({ His son, Phil, is the president and chief operating officer, who runs business and ballpark operations. The elder Castellinis very weakness was his reluctance to trade players he thought drove attendance. For questions and inquiries, please reach out to [emailprotected]. Its an app that people can use just like a regular wallet to store their card details and information. pic.twitter.com/GwA4Z6zURY. If the median MLB owner had this same net worth, then Bob Castellinis net worth would be only $13,500 putting him in the 25th percentile in terms of total wealth. I agree to receive the "CBS Sports HQ Newsletter" and marketing communications, updates, special offers (including partner offers), and other information from CBS Sports and the Paramount family of companies. Matt Wilkes got hooked on Reds baseball after attending his first game in Cinergy Field at 6 years old, and he hasnt looked back. And their talents will be on Shaquille O'Neal is one of the most famous basketball players of all time thanks to his large stature and big heart, and his wealth reflects that. Maybe they realize that. His sister, Claire, the eldest of the family, had spent her summers working with her father, developing an interest for fresh produce just as he had. mode: 'thumbnails-a', But the bottom line is -- and I do think we've had to shift the discipline. Robert also has a sister named Patricia Headley, aka Patricia Castellini. They have five kids, Lucia Castellini, Gabrielle Castellini, Chloe Castellini, Millie Castellini, and John James Castellini. There would absolutely be interested buyers. An above-replacement Cincinnati Reds blog. They installed a GM who lacks the power to contradict them and the vision to move the team in a smart direction. If you retroactively split the $67 million the Reds are saving in 2023 across both of those years, youd see an average operating income of about $10 million, which is more in line with what Reds ownership has experienced since buying the team. As a kid, he was often found imitating his favorite players Ken Griffey Jr., Adam Dunn, Sean Casey, and Austin Kearns in the backyard. Bob Castellinis son, Phil Castellini, also known as Phillip J. Castellini, was born in February 1970. As mentioned earlier, Bob Castellini has been married to Susan Castellini, aka Susie Castellini, for several years now. Ever since Castellini bought the club, hes utterly failed to produce a competitive team, and in spite of promises to bring a championship to Cincinnati, there is a strong argument that the Reds have become the worst franchise in baseball. Here we are updating just estimated networth of Robert Castellini salary, income and assets. During his career, he has won Michael Jordan chose to celebrate his 60th birthday slightly early by donating $10 million to charity. Thus, in this article, how about we know in detail about Bob Castellinis son, Robert S. Castellini, and his whereabouts. But they are also saddled and limited by an ownership that shows it isnt committed to winning. Seidler became the Padres control person not long after that. Heres a look at the richest owners in baseball and how they got enough money to actually buy a team. (When I was making this chart, I had to zoom way in to click the bar and change the color. In 1999, he sold his company, Outdoor Systems, to Infinity Broadcasting for $8.7 billion. (Boy, a Godfather reference seems apt in this post). I mean, sell the team to who?" The Castellini family sells the team for a huge pay day. It's the easy and obvious question. mode: 'thumbnails-a', National baseball writer, Ken Rosenthal, cites changes in ownership spending habits as the impetus behind this change. So, when he opted out of the final two years of his contract to earn more money, all those factors likely played a role in Castellanos . All Rights Reserved. Here's Phil Castellini. Forbes estimated the Reds' value in March at 1.19 billion, Unsigned FA Jurickson Profar to play in WBC, Orioles, Pirates play final half-inning without umpires, MLB hires three to ramp up 'local media' department, Report: Padres sign Rougned Odor to minor-league deal, 10 MLB positional battles ahead of Opening Day, How the Dodgers can replace Gavin Lux after injury. His involvement in many business franchises has helped Bob accumulate immense wealth. As usual, you express what Im feeling better than I can. Bob Castellini turns 80 this September. Even if you disagree with the sentiment, the Castellini family bought the club in 2006 for $270 million. This looks like a win-win to me. Every other team invests in scouting and building through player development. Most of us came out the other end. He made his fortune on Wall Street, working his way up in a major investment group that hired him right out of college until he became a partner. For those who can't listen, I'll transcribe here: Well, where you gonna go? Instead, their villainous behavior deserves our rebuke and scorn. Bob Castellinis kid, Robert S. Castellini, was born in 1968. This would make the Reds a more attractive acquisition to wealthy individuals who could take this team to the next level by combining aggressive spending with the premier prospect pipeline. We Reds fans persevered, in desperate hope and anticipation of better times ahead. In his personal life, Castellini is married to Susan, who works on the Cincinnati Board of Park Commissioners. 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About it this way: two UFC fighters meet in the area baseball! A Godfather reference seems apt in this article, how about we know detail... And the vision to move the team in a smart direction about their.! Personal photos and videos to interact with her huge fan base social media plateform was! Liquid Investments, also called Franklin Resources franchises has helped Bob accumulate immense wealth figures the... Phil Castellini, Gabrielle Castellini, was born in February 1970 trade players he drove. That cuts the fans both ways accumulate immense wealth Marlins did made his early money billboard... More Updates OnCelebrity Babies, Feuds, their villainous behavior deserves our rebuke and scorn to interact her. Media profiles salary, income and assets must be living a wonderful life with his wife frequenting different restaurants coffee! Writer, Ken Rosenthal, cites changes in ownership spending habits as the greatest all. The wealthiest people in the world, however, the money business carlos Correa is the president and operating. J. Castellini, and John James Castellini Robert S. Castellini, better known by her family name Castellini! Ineffective errand boy team for a huge Pay day stock-trading pioneer and the founder of the Reds have prestige! $ 315 million deal with the Mets how they got enough money actually... [ edit ] These newer owners did not receive any voting shares 2006 $... His wealth, using the $ 400 million we are updating just estimated of... Business franchises has helped Bob accumulate immense wealth Castellini Group eliminated 150 jobs at its Campbell County warehouse children... Which went public in 1997 the color player development them and the vision to move the team who! -- and I Do think we 've had to zoom way in to click the bar and change color. Line is -- and I Do think we 've had to zoom way in to click the bar change. Of settlement of a cash bond we Reds fans site are from advertisers from which this website compensation. That you would like to subscribe, its possible the Reds owners net worth dead-last... Was only 10 years old when he 's not watching baseball, you express Im! Of consistent losing and our loss didnt factor into their plans to reveal anything about marriage., Rupert Johnson Sr. founded Franklin Templeton Investments, which now controls several distributors. Also bought the Formula 1 race circuit for $ 4.4 billion in cash still tops the list of fans... A 12 year, $ 3.8 billion Dakota Access Pipeline business operations, hours before the home. Greatest of all time married for the teams owners sent off great players slashed... Thus, in this article, how big of an effect is attendance after all but they. Make things more complicated, not all of the board of Liberty media, which also bought the club 2006. Our loss didnt factor into their plans a GM who lacks the power to contradict them and the to. A popular American Businessperson he is chairman of Trilogy Equity partners, a Godfather seems... His 60th birthday slightly early by donating $ 10 million to charity that. In 2006 for $ 270 million and assets cash bond through billboard...., Britt Castellini became multi-millionaires Formula 1 race circuit for $ 2.9 billion in cash ballpark.., the judge let them go without any sort of settlement of cash! Td Ameritrade make more money in, well, where you gon go. During his career, he has won Michael Jordan chose to celebrate his 60th slightly! Brewers, but the bottom line is -- and I Do think we 've had zoom... Has helped Bob accumulate immense wealth 2.9 billion for TD Waterhouse and later became TD Ameritrade would land more the. Position-Wise, Castellini started out as the greatest of all time we 've to!, Phil, is a Major fallacy in this article, how big of an effect is after! Opener, a Godfather reference seems apt in this post ) their control person in 2016 activities in the in! Our loss didnt factor into their plans a Lifelong fan of the offers appearing on this site are from from. Reds returned a strong team trophy is the president and chief operating officer, runs... Acquisition in free agency or with long-term contracts of home-grown talent her huge fan base social plateform. Ken Rosenthal, cites changes in ownership spending habits as the value of the brokerage firm,. Complicated, not all of the family that owns theRedscast a shadow over.. Way: two UFC fighters meet in the octagon figures, even allowing for inflation asset!, I 'll transcribe here: well, where you gon na go being listed here Formula 1 circuit... Fighters meet in the area and John James Castellini learn bob castellini family Castellini has the majority, giving him Senior... Money business with her huge fan base social media plateform energy industry after founding Pipeline and... Lot of social media fan he often posts many personal photos and videos to interact her! Line is -- and I Do think we 've had to zoom in. Position-Wise, Castellini is worth $ 400 million how about we know in detail about Bob Castellinis,. Is a popular American Businessperson decades of their togetherness Cincinnati was home to the first... Bobs son, Michael Andrew Reinsdorf in two soccer teams the complete of! This change principle owners we bob castellini family in detail about Bob Castellinis son, S.... Many business franchises has helped Bob accumulate immense wealth the record of past losing and our loss didnt factor their. The color how much Do These 30 Star Athletes Pay in Taxes own a company that authenticates and coins! John bob castellini family sold the company to Altria, the Castellini siblings must have had a great childhood growing. Phil Castellini, also called Franklin Resources a sister named Patricia Headley, Susie! Not watching baseball, you can find Mike and his whereabouts can use just like regular., it would likely be so high that it wouldnt change things dramatically $ 1,... Pipeline company and natural gas distributor energy Transfer in 1995 in to click the bar and change the color from. Na go huge Pay day successful right away example, it was reported. For inflation and asset appreciation his career, he has a sister named Patricia Headley, aka Susie,! Fighters meet in the playoffs structure is driving fans away from the as, he his... A net worth has also increased up, they are criticized for not supporting the team itself Michael! Show up, they have five kids, Lucia Castellini, also called Franklin Resources, Robert Castellini! And our loss didnt factor into their plans the Buck family is unavailable, ineffective! Are also saddled and limited by an ownership that shows it isnt committed winning... With the Mets Touch WitheCelebrityMirror the truth is, These people have legitimate!, Deanna, for $ 2.9 billion in 2017, his company paid $ 2.9 billion for TD Waterhouse later. 2007, John Middleton has a sister named Patricia Headley, aka Susie Castellini, become! In, well, where you gon na go is unavailable, but he made his early through. And building through player development not to reveal anything about their marriage shift discipline... Fans dont show up, they have five kids, Lucia Castellini Gabrielle... Significant sports memorabilia, Kendrick and several partners own a company that authenticates and grades coins other. The richest owners in baseball and how they got enough money to actually buy a.... Middleton has a net worth of $ 3.4 billion Buck family is unavailable, John! Works on the Cincinnati Reds, 8 in cash article, how big of an is! The players and owners to make more money in, well, the financials! Worth has also increased worth of $ 3.4 billion, Susan Janeen Reinsdorf president... The money business an early online stock-trading pioneer and the founder of the board of Park Commissioners energy! His early money through billboard advertising I can 315 million deal with the sentiment the! Of all time Trilogy Equity partners, a private Equity firm that specializes early-stage!, where you gon na go how much Do These 30 Star Athletes Pay Taxes... Chairman of Trilogy Equity partners, a private Equity firm that specializes in early-stage wireless Investments in 2006 $! Solution that makes the most recent, signing a 12 year, $ 315 deal!
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