An Atlanta Journal-Constitution report Friday that details of the team's financial shortfall stated that “this one transaction had the impact of swinging [the Braves’] adjusted OIBDA from earnings to a loss."
OIBDA is an acronym for “operating income before depreciation and amortization."
Lowe, whose final record for the Braves was 40-39 after three seasons, struggled mightily during the 2011 season, losing 17. He was dealt to the Indians during the offseason in a deal that was enough of a loss to put the entire payroll into a state of debt.
Liberty believes that if not for the Lowe trade the team would have shown a possible profit of $4 million, which would gross the total loss of the transaction at around $10 million.
Derek Lowe was brought to the Braves by general manager Frank Wren as a cornerstone to rotation but was never able to win more than 16, even though he started 33 games or more each of his three seasons in Atlanta.
The financial report apparently referred to Lowe simply as “one of their pitchers,” but included enough details to conclude that it was the 38-year-old veteran.
With Lowe and Kenshin Kawakami officially off the books, Frank Wren should certainly be relieved to put his two big pitching signings behind him.