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Started By
Message
A local report claims the Pittsburgh Pirates are losing money.
Posted on 4/3/25 at 4:52 pm
Posted on 4/3/25 at 4:52 pm
Next to the last opening day payroll in 2024 and yet still losing over $2 million.
Long time Pittsburgh sports reporter, Dejan Kovacevic made a lot of interesting statements in a special report including the following:
Kovacevic assembled an independent group for his website to investigate the Pirates’ finances.
Total operating revenues: $292.4 million
Total operating expenses: $294.6 million
-$2.2 million
Now, bear in mind, at least for those with a degree in economics, that the minus-$2.2 million comes before debt, loans, taxes, amortization/depreciation, capital expenses, and other costs. So the real-life loss would be worse.
Owner Bob Nutting, who is constantly ranked as one of the worst owners in the sport, doesn’t take a salary or pay himself a dividend. Something Kovacevic has verified many times.
The debt isn’t outrageous, but it’s never been higher in the last 18-year since Nutting took over.
The Pirates make far less than other teams do for parking. $200K for Pittsburgh, $20 million for Milwaukee.
Kovacevic admitted he had the exact opposite opinion when he penned Nutting should sell the team back in October.
This really goes to show how pathetic MLB's financial situation really is.
LINK
Long time Pittsburgh sports reporter, Dejan Kovacevic made a lot of interesting statements in a special report including the following:
Kovacevic assembled an independent group for his website to investigate the Pirates’ finances.
Total operating revenues: $292.4 million
Total operating expenses: $294.6 million
-$2.2 million
Now, bear in mind, at least for those with a degree in economics, that the minus-$2.2 million comes before debt, loans, taxes, amortization/depreciation, capital expenses, and other costs. So the real-life loss would be worse.
Owner Bob Nutting, who is constantly ranked as one of the worst owners in the sport, doesn’t take a salary or pay himself a dividend. Something Kovacevic has verified many times.
The debt isn’t outrageous, but it’s never been higher in the last 18-year since Nutting took over.
The Pirates make far less than other teams do for parking. $200K for Pittsburgh, $20 million for Milwaukee.
Kovacevic admitted he had the exact opposite opinion when he penned Nutting should sell the team back in October.
This really goes to show how pathetic MLB's financial situation really is.
LINK
22
Posted on 4/3/25 at 5:02 pm to BigD43
I haven't analyzed anything at all, but just the parking comment makes him actually look good to fans. He's not trying to fleece the fans to line his pockets like other owners. Might be a bad owner, but sounds like a nice guy.
Posted on 4/3/25 at 5:14 pm to BigD43
What makes him a “bad owner?”
Posted on 4/3/25 at 5:18 pm to BigD43
quote:
This really goes to show how pathetic MLB's financial situation really is.
This seems to show the Pirate’s financial situation not the MLB as a whole.
Posted on 4/3/25 at 5:19 pm to BigD43
I’m not convinced on this guy’s methodology, seems suspect
Posted on 4/3/25 at 5:25 pm to BigD43
Paid $60 to park at the NC State arena the other week for the first round tourney games.
$60.
$60.
Posted on 4/3/25 at 5:33 pm to Cosmo
quote:
What makes him a “bad owner?”
Really?
Posted on 4/3/25 at 5:40 pm to BigD43
quote:
This really goes to show how pathetic MLB's financial situation really is.
except it isn't
Posted on 4/3/25 at 5:57 pm to Trauma14
quote:lmao
. He's not trying to fleece the fans to line his pockets
Posted on 4/3/25 at 6:03 pm to WestCoastAg
Well while the stadium is a true draw to players, there is NO reason for high end players to come to Pittsburgh. But, if they will somehow keep Skenes it will look different to players they usually not get. Plus( like it or not) it’s a football and hockey town.
Posted on 4/3/25 at 6:09 pm to stlslick
quote:
except it isn't
When certain team's gross revenue are lower than other team's payroll you have problems.
Posted on 4/3/25 at 6:10 pm to Cosmo
quote:
What makes him a “bad owner?”
I believe just three winning season in 18 years. Sure, they have a disadvantage when it comes to spending but it shouldnt be this bad.
Posted on 4/3/25 at 6:12 pm to BigD43
quote:
Kovacevic assembled an independent group for his website to investigate the Pirates’ finances.
mlb and other owners do not show their books, so this is a fantasy land article.
Posted on 4/3/25 at 6:12 pm to BigD43
quote:
Owner Bob Nutting
Sounds dirty.
Posted on 4/3/25 at 6:26 pm to stlslick
quote:
mlb and other owners do not show their books, so this is a fantasy land article.
The journalist obviously found enough evidence to make a complete 180 on the subject.
I also found it difficult to believe they lost money with such a low payroll but I'm not unreasonable.
Posted on 4/3/25 at 6:36 pm to i am dan
quote:
Paid $60 to park at the NC State arena the other week for the first round tourney games.
$60.
I paid $20 at Rupp to park all day if I wanted (just went to night session). That was with Louisville playing the early game. They could have charged a lot more (and I could have left without paying, but I try to be upstanding - there was no parking attendant until I found him 5 minutes later). I know Duke fans, but $60 is crazy unless you're really close. Parking lot at Rupp was $27.
Posted on 4/3/25 at 6:40 pm to BigD43
The Pirates lost their regional sports network a couple of years ago, which has been a golden goose for most MLB teams. Other teams lost that source of income, too, with ROOT Sports going under and the Ballys group of networks going through bankruptcy and then shedding themselves of less desirable teams. The Pirates now co-own their own RSN, but I think their TV income took a hit in the process.
I'm not saying the report is true. Like statistics, you can make accounting numbers say what you want them to say. But it is true they lost some of their income in the last couple of years.
I'm not saying the report is true. Like statistics, you can make accounting numbers say what you want them to say. But it is true they lost some of their income in the last couple of years.
This post was edited on 4/3/25 at 6:44 pm
Posted on 4/3/25 at 6:50 pm to Trauma14
quote:
just the parking comment makes him actually look good to fan
dont people park downtown and take that bridge to the stadium?
Posted on 4/3/25 at 7:03 pm to BigD43
Not sure that number of course , but a lot of teams lose money or break even. Simply compared to what they make - what they spend / borrow. Some people look at player salary and stop there.
Posted on 4/3/25 at 7:04 pm to BigD43
quote:
The Pirates make far less than other teams do for parking. $200K for Pittsburgh, $20 million for Milwaukee.
Not surprising. The "T" (light rail) has a station right across the street from PNC, free ridership downtown, and parking across the river is dirt cheap. William Penn Garage I know has a daily weekend rate of $6 iirc.
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