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Buy me some peanuts and stadiums ...
The Pittsburgh Tribune-Review ^ | Friday, April 15, 2005 | Bill Steigerwald

Posted on 04/15/2005 1:17:05 PM PDT by Willie Green

Another baseball season is upon us.

That means it's time to check the stats in Forbes' annual look at the always slightly fuzzy finances of Major League Baseball Inc., arguably America's most taxpayer-enhanced sport.

This year, Forbes focuses on the Seattle Mariners, a small-market franchise that went a lousy 63 and 99 on the field last season but has quietly led the majors for five straight years in what counts most in pro sports -- team profits.

The Mariners, says Forbes, are worth $414 million, which is fifth behind the mighty Yankees ($950 million), Red Sox ($563 million), Mets ($505 million) and Dodgers ($424 million). The poor Pirates' market value is $218 million, or 25th in the league, with a decent 2004 operating income of $12.2 million on revenue of $109 million.

How can Seattle, the 20th-largest baseball market, be fourth in the average annual revenues over the past five years ($163 million)? How can it be fourth in attendance (3.3 million)? And how in the name of Barry Bonds has it averaged a gross profit of $17 million a year since 2000, when the Yankees lost $37 million last year?

(Excerpt) Read more at pittsburghlive.com ...


TOPICS: Business/Economy; Culture/Society; Government; Japan; US: Washington
KEYWORDS: govwatch; mlb; sportspork; taxes

1 posted on 04/15/2005 1:17:09 PM PDT by Willie Green
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To: Willie Green

Too many teams use the age old "if you taxpayers don't cough up the money, we'll move to..." line. Then there's the Hartford spectacle. The Patriots used and abused Hartford to get what they wanted out of the taxpayers in the Boston area.


2 posted on 04/15/2005 1:25:21 PM PDT by bobjam
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To: Willie Green
As former Texas Rangers owner George W. Bush and former owners of the Reds, Indians, Brewers and A's know, the best way to get rich with a small-market team is to sell it -- preferably after getting local taxpayers to drive up its value by paying for a new ballpark.

The author just coudn't resist, could he...He basically just said that Bush fleeced the taxpayers when he was owner of the Texas Rangers...

3 posted on 04/15/2005 1:26:23 PM PDT by frogjerk
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To: Willie Green
Well, for one thing, the Mariners have a better-than-usual sweetheart stadium deal: Taxpayers paid 63 percent of the cost of Safeco Field's $517 million price tag. Plus, the team runs the stadium and keeps all revenues, including an estimated $5 million to $8 million a year from graduations, proms and parties.

And that is it in a nut shell sports fans. We citizens of the Peoples Republik of Soviet WA State, where Commissar Kristina Gregwurovich is our leader, where the communists of socialist Ukraine County inserted Commissar Gregwurovich into the position as head of the Supreme Soviet down in Olympiastadt, VOTED DOWN this stadium. But, the fearless leaders of the communist voted in the Supreme Soviet in Olympiastadt to build the stadium anyway. Tax payers funded the building of not only this stadium, but of the Seahawks stadium, the over $80 million remodel of Key Arena where the Sonics play. And, now say is too small and they need yet another new arena. The old Kingdome was torn down, and still had over $100 million I believe it was owed on repair costs, that citizens were stuck with. So, the imperial city of Seattle has three ball stadiums that cost over $ONE BILLION DOLLARS. They pay a puny 81 games in Safeco Field, 10 games in Seahawks stadium and 81 games in Key Arena per year. Yes, taxes well spent. Never mind what the tax payer wants. Vote it down, they pass it anyway. So much for what the people want.

4 posted on 04/15/2005 1:26:30 PM PDT by RetiredArmy (Let there be no mistake. Let me be very clear: I HATE DEMOCRATS! Enemies of the Republic.)
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To: RetiredArmy

Personally I would kick every state-supported team out on their ass. If they can't bring in enough money on their own, than they don't deserve to be in business. It's a freaking game that kids play for free (or charge to belong to a team) and we pay them millions to hit a ball around? Sorry I don't GET professional sports...


5 posted on 04/15/2005 1:43:45 PM PDT by thebaron512
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