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SBD/April 5, 2011/Franchises
Padres Using Ticket Discounts In Attempt To Lure Fans To Petco Park
Published April 5, 2011
MISLEADING NUMBERS: In San Diego, Tim Sullivan noted Forbes as part of its annual MLB valuations estimated the Padres' '10 operating income "at a baseball-best" $37.2M, but he wrote their "estimates are open to interpretation and, in turn, to misinterpretation." The estimates "revived speculation that Moorad might be diverting some of the ballclub's revenues to complete the purchase of John Moores' ownership stake," but Moorad insisted that that "has not been the case and won't become the case." He said, "Our goal is not to make money. Our goal is to break even. Even if we sell the ballpark out and have a new broadcast contract and are able to sell more expensive seats at some point, every dollar that we are able to generate over and above expenses will go right back into the facility or the major league payroll. ... There are no distributions. If we made a distribution today, 50 cents on the dollar would go to John (Moores). John's not receiving them. Neither are we" (SAN DIEGO UNION-TRIBUNE, 4/2).