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MLB Giants Payroll To Top $200M For First Time In Ownership Group's 25th Season

The '17 MLB season marks the 25th year the Giants have been owned by Peter Magowan and Charles Johnson, and the organization is "healthy financially and anticipating another run to the playoffs," according to John Shea of the S.F. CHRONICLE. Giants President & CEO Larry Baer said that player payroll will top $200M for the "first time this year." The Giants were one of six teams to pay a '16 payroll luxury tax, and they "continue to pay many tens of millions in revenue sharing." The club in December "made the final payment on AT&T Park," paying off a 20-year mortgage on a original $170M loan. That means the Giants have $18M they "no longer have to pay annually on a mortgage." However, Baer said that the Giants "must pay far more in revenue sharing" under the new CBA, close to an additional $16M, which would "nearly equal what they were paying on the loan." Baer "didn’t give specifics, but it’s believed the Giants paid upward" of $45M into revenue sharing last year. That bill "could top" $60M this year. Shea notes revenues will "further soar with the construction of the Mission Rock complex, a mixed-use development over 28 acres to be built on the site of parking lot A." Baer said that construction will "begin next year and include several phases over seven to 10 years." The plan, "given the go-ahead on November’s ballot, is for 1,500 rental units, shops, restaurants, office space, a brewery at Pier 48, a multistory parking structure and public parks" (S.F. CHRONICLE, 2/24). 

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