Great Article On Pirates Finances

[Tobywan]

I guarantee you that you would be surprised at just how little big businesses and wealthy people pay in taxes.

[redsfan28]

Pittsburgh Pirates president Frank Coonelly says team's $120 million debt is manageable - ESPN

Apparently they are still $120 million in debt, but they say its 'manageable'. I guess until the 'm' in million changes to a 'b', that amount of debt is manageable.

[realmofotalk]

I don't see them lying to MLB though. Why risk it? I understand the $5.4 million is what they have left after all expenses. Owners aren't exactly lining their pockets with that. They barely covered their own taxes!

I don't think MLB would mind at all that the owners deflate their own profit figures. It only helps their case against the player's association in collective bargaining.

[love_that_reefer]

I'm sure the other owners would care, especially the ones that hand them over money.

[Tobywan]

I'm sure the other owners would care, especially the ones that hand them over money.

But then they would also have to completely open their books, which none of them want to do. Anytime even the remotest suggestion of abolishing their anti-trust exemption is mentioned, they oppose it.

[realmofotalk]

Pittsburgh Pirates president Frank Coonelly says team's $120 million debt is manageable - ESPN

Apparently they are still $120 million in debt, but they say its 'manageable'. I guess until the 'm' in million changes to a 'b', that amount of debt is manageable.

It was recently reported the Yankees are $2 b-b-billion in debt. And yup, they too say their debt is "very manageable".