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Good And Bad: Giants Earn $ In '01, But May Lose $ In '02
Published December 3, 2001
Giants Exec VP & COO Larry Baer said that the Giants were one of five MLB teams that turned a profit in '01, but they "expect to lose money in 2002 because of increased payroll costs and the softening economy," according to Henry Schulman of the S.F. CHRONICLE. Baer said the Giants will earn a profit of "slightly more than" $1M, less than the $5M they earned last year. But Baer said that in '02, the Giants "expect to lose more than" $5M. Baer: "Player payroll has gone up, sponsorship money is down and the amount we get from the national TV contract is going to be lower. We do not expect the Giants to be profitable next year." Schulman reports the Giants earned $155M in '01, down from the $160M earned last year (S.F. CHRONICLE, 12/3).
METS OWNERSHIP: In N.Y., T.J. Quinn cited sources as saying that Mets co-Owners Fred Wilpon and Nelson Doubleday "may soon break off negotiations and bring an appraiser in to determine the value of the club for them." Doubleday reportedly wants Wilpon to "pay the $200 million they discussed" before the September 11 terrorist attacks, when they "still believed a new stadium was in the works" (N.Y. DAILY NEWS, 12/1). Meanwhile, Wilpon said that the Mets who "fell almost 350,000 fans short of their goal of three million" last season "lost money, though he would not specify how much" (N.Y. TIMES, 12/1). Wilpon said the Mets will "not substantially raise ticket prices" until the team improves. Wilpon: "I just think they have to play better before we raise them" (Newark STAR-LEDGER, 12/1).