I don't know if owners were still saying that in particular in '25, but I certainly don't begrudge a reaction after Covid devastated revenues across every industry outside of the pharma one.
Totally agree with the second part. Completely on them. But as we've seen time and time again - they're not infallible or geniuses. So there's every chance they spend extra, get it wrong and then revenues dive again because the product is poor. Yet now we have record pay roll. It's absolutely sensible that they would give themselves buffers.
And yet, I'll say it again for the zillionth time. They should definitely spend more than they currently are.
I fully expect them to go up near $260. Higher, and you're into draft pick territory so it's on a case by case basis then, depending on who we would add.