DraftKings Closes On $300M Series D Round Angels Unveil Giant Mike Trout Bobblehead Phillies Shifting Tix Sales Tactics To Digital Baseball HOF Expects Large Crowd Bumgarner Tops MLB's First-Half Jersey Sales Cherington Takes Blame For Red Sox' Recent Woes Manfred Addresses DraftKings Ethical Questions Nationals Welcome Star Wars Fans For Promo Brewers' Attendance On Par With '14 Figures Braves, Live Nation Partner On Theater Near Ballpark
THE BIG BUSINESS OF BUYING AND SELLING MINOR LEAGUE CLUBS
Published October 27, 1997
The financial benefits of owning a minor league baseball franchise was examined by Roy Furchgott of the N.Y. TIMES, who wrote, "team owners warn that would-be baseball moguls should take a long look before stepping up to the plate." St. Paul Saints Owner Mike Veeck: "It's possible to make money, and it's also possible to lose a lot very quickly." Furchgott wrote that "many team owners have done well on their investment, not necessarily because of ticket sales but because resale values have skyrocketed." Class A Northwest League President Robert Richmond: "A team that cost $350,000 just 10 years ago costs $8 million today." Furchgott reported that the price of a team not affiliated with MLB "can run as low as $25,000," while AAA teams "have asking prices of up to" $12M. But costs for owners will increase, as the recent PBA between the NAPBL and MLB "shifts more costs to the minors" next season, including paying for more than 200 umpires, uniform costs, and half the cost of balls and bats (Roy Furchgott, N.Y. TIMES, 10/26).