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RED BIRDS STILL IN THE RED BUT LOOK TO GAIN FROM PLAYOFF RUN
Published October 8, 1996
Despite reaching the NLCS for the first time since '87, the Cardinals will still lose money this year under the direction of its first year owners, according to Josh Gotthelf of the ST. LOUIS BUSINESS JOURNAL. Fred Hanser, Chair of the group which purchased the club from Anheuser-Busch in March, said being in the playoffs "could help," but probably "won't have a big impact on the team's bottom line." In their sweep of the Padres, the club received "about" 7.5% of the ticket revenue, which was around $50,000-$75,000 a game for each team. Cardinals President Mark Lamping, asked if the organization would lose less than the $12M it claimed to lose in '95: "I don't think it would be fair to say that." However, Lamping adds, the "real benefits" of being in the playoffs will be "felt next year, not this year." The reconfiguration of Busch Stadium to include more high-end seats will generate about "about" $3M a year in additional ticket revenue. Club owners will reportedly discuss "further renovations," which could include adding more luxury seats close to the field and removing a portion of the upper deck, during this off-season. The team has taken "several steps toward making" it profitable in the future by reaching new radio/TV deals and increasing stadium signage, including a deal with The Gap, estimated at $100,000 a year, for "Gap" signs in the outfield (ST. LOUIS BUSINESS JOURNAL, 10/7 issue).