pirates finish third in money making.
pirates finish third in money making.
LOS ANGELES -- The Pirates have acknowledged making a profit in 2006, but they firmly rejected a Forbes magazine estimate that their operating income -- earnings before interest, debt and taxes -- was $25.3 million.
"The information reported in Forbes is simply inaccurate," principal owner Bob Nutting said yesterday.
Neither Nutting nor CEO Kevin McClatchy has divulged how much profit the team made while spending $43.4 million on player payroll last season -- third lowest in Major League Baseball -- but they have said it was not excessive.
"We are operating the Pirates responsibly from a solid business and baseball foundation in order to consistently compete on the field and maintain the long-term viability of the franchise," Nutting said.
The Forbes report, released yesterday, ranked the Pirates' 2006 operating income as MLB's third highest, behind the Florida Marlins' $43.3 million and the Los Angeles Dodgers' $27.5 million.
David Samson, president of the Marlins, described the Forbes numbers to The Associated Press as "pure fantasy," a view that is shared almost universally in baseball, mostly because the magazine is granted no access to teams' financial information. Major League Baseball strongly discourages all teams from opening their books.
The Pirates say they never were contacted by Forbes.
Elizabeth Wasden, a spokeswoman for the magazine, told AP yesterday, "Forbes compiles its annual valuations of Major League Baseball franchises based on information obtained from team executives, sports bankers, public documents and other sources believed to be reliable. We stand by our figures and the content published."
"The information reported in Forbes is simply inaccurate," principal owner Bob Nutting said yesterday.
Neither Nutting nor CEO Kevin McClatchy has divulged how much profit the team made while spending $43.4 million on player payroll last season -- third lowest in Major League Baseball -- but they have said it was not excessive.
"We are operating the Pirates responsibly from a solid business and baseball foundation in order to consistently compete on the field and maintain the long-term viability of the franchise," Nutting said.
The Forbes report, released yesterday, ranked the Pirates' 2006 operating income as MLB's third highest, behind the Florida Marlins' $43.3 million and the Los Angeles Dodgers' $27.5 million.
David Samson, president of the Marlins, described the Forbes numbers to The Associated Press as "pure fantasy," a view that is shared almost universally in baseball, mostly because the magazine is granted no access to teams' financial information. Major League Baseball strongly discourages all teams from opening their books.
The Pirates say they never were contacted by Forbes.
Elizabeth Wasden, a spokeswoman for the magazine, told AP yesterday, "Forbes compiles its annual valuations of Major League Baseball franchises based on information obtained from team executives, sports bankers, public documents and other sources believed to be reliable. We stand by our figures and the content published."
Last edited by D-nice on September 20th, 2011, 12:32 am, edited 1 time in total.
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The Ancient Enemy
- Official BleacherCoach
- Posts: 7549
- Joined: October 30th, 2004, 2:47 pm
Re: pirates finish third in money making.
That team isn't worth $23,000. Season started like 2 weeks ago and they're already out of the race.
Last edited by The Ancient Enemy on September 20th, 2011, 12:32 am, edited 1 time in total.
"I can and will be hard anytime with or without my boyz!!!" - Hollywood
"Their jerseys make me want to run through the desert and tackle a terrorist." - nLions1
"Their jerseys make me want to run through the desert and tackle a terrorist." - nLions1
Re: pirates finish third in money making.
yeah, but at least ownership is getting bank.
Last edited by D-nice on September 20th, 2011, 12:32 am, edited 1 time in total.
Wish they would just sell the team to Mark Cuban (wants to own the pirates always have been his favorite team). Then there would be a winner on the field for sure.
Last edited by abpk2903 on September 20th, 2011, 12:32 am, edited 1 time in total.
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The Ancient Enemy
- Official BleacherCoach
- Posts: 7549
- Joined: October 30th, 2004, 2:47 pm
Re: pirates finish third in money making.
I wish I could agree with that. There's no salary cap. I wish I could like baseball, but the complete lack of a cap plus the fact that every single record is bogus, really keeps me away. How would you like it if Bedford High made their field 30 yards long and made their goalposts 3 feet wide, and if that's not bad enough, then Ham gets the record for most TD's in a season at 458. It just doesn't make any sense.
I was very much behind Marino and Cuban owning the Pens, and I still think that would have been a much better option for the franchise.
I was very much behind Marino and Cuban owning the Pens, and I still think that would have been a much better option for the franchise.
Last edited by The Ancient Enemy on September 20th, 2011, 12:32 am, edited 1 time in total.
"I can and will be hard anytime with or without my boyz!!!" - Hollywood
"Their jerseys make me want to run through the desert and tackle a terrorist." - nLions1
"Their jerseys make me want to run through the desert and tackle a terrorist." - nLions1
