A confidential prospectus designed to attract investors in
the Diamondbacks projects that the team will make $21M in net
income during their first year of play in '98, according to Eric
Miller of the ARIZONA REPUBLIC. Suns Controller Jim Pitman, who
has worked on the team's projections, says that net income would
put the team "in the top third" of MLB's markets. The team is
projecting $82M in revenues in '98, with $61M in expenses,
according to the report. The team is counting on gate revenue to
bring in the largest share of more than $40M. The team's largest
projected expense is $20M for player salaries. 'Backs Owner
Jerry Colangelo says that player salaries are dependent on a new
CBA with the union: "The big variable in all these numbers
happens to be in player personnel" (ARIZONA REPUBLIC, 6/15).
INVESTOR INTEREST: Colangelo said that over $100M has been
raised from additional investors since he announced on March 24
that he was looking for additional minority ownership. New
investors will be required to contribute at least $5M (ARIZONA
REPUBLIC, 6/15).
