Indians Expected To Lose $16M This Season As Team Rebuilds
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Dolan Says Indians Were
Suffering Before Trade Deals |
Indians President Paul Dolan Thursday said that the team will lose $16M this season "even with the aid of revenue sharing" from MLB, according to Paul Hoynes of the Cleveland PLAIN DEALER. Dolan added that the loss "would have been greater if they hadn't traded six players" last week, including P Cliff Lee and C Victor Martinez. Dolan: "The reality is, we were suffering financially before we made these deals. Given the fact of the team's performance this year, and the fact that if had we stayed put, we would not have been able to go outside the organization to bring in any new talent (for 2010), we would have suffered even greater losses. What this is all about is that we have to look longer term. We have to look at 2010, 2011, 2012, 2013." Dolan acknowledged the fans "aren't happy with us now," but added, "They wouldn't have been happy with us in the years to come if we didn't do what we've done now." He indicated that the team's losses will be "made up from loans and cash from the Dolan family." Dolan also discussed a number of other topics with reporters Thursday, including team attendance. He said, "At the start of the year we projected it to be 2.2 million. It's now projected to be 1.7 million to 1.8 million." Dolan added that he "expects attendance to drop even more next season" (Cleveland PLAIN DEALER, 8/7).
SLOW BUT STEADY: Dolan said, "We don't expect our losses to be as great next year. And we could have some financial flexibility as soon as 2010." However, he is "not promising to spend money for players next season, when it appears payroll will drop" from $81.5M at the start of this season to an estimated $59M, or less. Dolan said of recovering for the financial losses, "It's a combination of borrowing more money and an infusion of (owners') cash into the team. We'll probably do both over the next couple of years" (AKRON BEACON JOURNAL, 8/7). MLB.com's Anthony Castrovince noted MLB revenue sharing and a profit from SportsTime Ohio, the RSN started by the Dolans in '06, "offset some of the losses," though the $16M loss "took those profits into account." Dolan said that he has no intention of selling the Indians but is "open to outside investment into the club and always has been." Dolan said with a laugh, "I get the suggestion to sell the team a few times a day from various fans" (MLB.com, 8/6).
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