The Atlanta Braves have some bad seasons under their belt, but nothing resembling the 1935 debacle faced by the Boston Braves.
With Ruth gone and the team 9-24, 15.5 games back, Fuchs admitted defeat.
"“I am unable to provide such capital, as I have exhausted every personal financial means. My heart and soul is for Boston and New England. They deserve the best, and it occurred to me that it may be my situation, just described, that is handicapping the course. I am willing to sacrifice the large equity I have in the Braves.”"
He tried to find a buyer for his share of the franchise, valued at that time at $400K. but no one wanted the debt, so he handed the keys to Adams and left.
The man who couldn’t own a team now owned the Braves.
Adams already owned 65% of the franchise whose total value was estimated at $1.2M, but already had his hands full as president of the Boston Bruins, and was “a major force” in horse racing. He didn’t want any part of the team and like Fuchs, unsuccessfully sought a buyer.
By the end of September, Adams resorted to a public plea to stockholders for money to pay the bills.
"“It is so serious, that unless the club finds some immediate financial support there is danger of the loss of its franchise and player assets. Briefly stated, the club now owes $200,000 on demand notes and approximately $50,000 of known current liabilities. … The club has practically no liquid assets with which to meet these obligations."
The Braves finished the 1935 season 38-115, 61½ games behind the Cubs.
Various reorganization plans failed, and on November 26th, 1935, the National League took control of a franchise with an estimated $110K in outstanding debt.
The Mighty Quinn?
Consider the situation if the new owner of the Atlanta Braves was the former owner of the Red Sox and current GM of the Nationals; conflict of interest anyone?
Unthinkable today, but the man who took over the Boston Braves was former Red Sox president and current Brooklyn Dodger GM, Bob Quinn. When approved Quin became the first person in baseball history to hold the office of president for both an AL and an NL team.
At a December 31st meeting, Fuchs told owners his losses came to at least $700K.
"“I paid $450,000 cash for the ball club, and … I borrowed money subsequently to purchase other shares in order to add to my holdings, and that there were several lean years during the period 1922 to 1928 inclusive, before the advent of Sunday baseball, in which financial losses were incurred.”"