Deadspin acquired team financial statements. They’ll be published in a series of posts, the first one here. I can’t wait for the accountants and businessmen out there to analyze these. Here’s one document that shows the Pirates making money while losing.
A few years ago Forbes had an article about the LA Clippers owner. And in talking about all his business acumen, it praised the fact that he made money off the Clippers.
From a business standpoint (and I am a die hard free market capitalist) it is fine, but if I were a fan of the Clippers I’d feel betrayed that the owner did not care about winning, only about making money off the team.
Just another reason why I’m glad George Steinbrenner bought the Yankees. He put winning ahead of dollars.
@rbj: Yes, and George and his family made a ton of money doing that. Maybe other owners could learn a lesson there.
“Just another reason why I’m glad George Steinbrenner bought the Yankees. He put winning ahead of dollars.”
Agreed, you don’t find too many two time felons prioritizing anything over making a buck.
@dave, yeah how’s that upstanding-give-back-to-the-community thing working out in Kansas City?