M’s report loss in 08, no evidence forthcoming
According to Pravda, the M’s managed to lose money last year, as reported in their annual report…
The report, released at Monday afternoon’s quarterly meeting in Seattle, reflected a $4.5 million loss during the fiscal year that ended October 31, 2008.
…which isn’t up on the PFD site.
The M’s pay almost nothing for the lease of Safeco Field. Their rent is so low it’s absurd. Even if you buy the $121m in claimed payroll, and you figure it takes… $50m to run operations, the farm system, keep the Moose in anti-flea medicated shampoos, that’s ~$170m.
FSN pays them at least $30m for broadcast rights. KOMO paid them $10m. They probably made $12m from the Fox/TSN TV deals. I don’t know how much MLBAM is paying out, so drop that for a second. They probably get $3-4m from the DirecTV deal… none of this counts any cut the commish takes for his slush fund, btw, I’m just trying to sketch this out.
The M’s drew 2,329,702 in their home games last year. What do you think they made in revenue per ticket? $25? Okay, so that’s $60m there. Between concessions, parking, advertising, luxury boxes, club seats licenses, and whatever, they probably cleared another $60m in profit.
Wait, we’re profitable already. What just happened? How are they supposed to have lost money, exactly?
Also, despite the headline, note that there’s no link to the report, and the M’s haven’t put it up in the “press releases” section for your perusal.