Red Bulls Managing Director Denies Team Lost $14M Last Year

Red Bulls Deny Report That Team Lost $14M Last Season

MLS Red Bulls Managing Dir Marc de Grandpre “refuted reports” that the team lost $14M in ’06, according to Michael Lewis of the N.Y. DAILY NEWS. de Grandpre: “It is inaccurate. Obviously the next question becomes ‘So what did the balance sheet look like at the end of ’06?’ Red Bull as an organization does not ever disclose any financials.” de Grandpre also “wants to quash any talk that the [team] will wait until the opening of Red Bull Park in 2008 to promote” itself. de Grandpre: “This is not true. Our priorities are turning this team into a winner on the field and establishing the best development system in America — no matter where we play” (N.Y. DAILY NEWS, 3/20).

A LOOK AT OTHER CLUBS: In an examination of MLS’ financial landscape, ESPNSOCCERNET.com’s Steve Davis wrote the Galaxy “already turns a profit, Chivas USA can’t be far from it, and [the Crew] is among the clubs that keeps its losses to a minimum.” Hunt Sports Group (HSG) — which owns FC Dallas and the Crew and sold the Wizards last August — “reported a small profit in 2006, although they never elaborated.” But when HSG officials discuss profits, “they aren’t factoring in the construction costs for Pizza Hut Park.” HSG’s stake in the stadium, which opened in ’05, was about $85M, “and that amount won’t be quickly recouped.” Davis noted MLS “is in a decent position cash-flow wise, thanks to new TV deals” (ESPNSOCCERNET.com, 3/19).