by FanHouse Newswire
PITTSBURGH (AP) -- Don't feel too sorry for the cellar-dwelling Pittsburgh Pirates. Losing has been profitable.The Pirates made nearly $29.4 million in 2007 and 2008, according to team financial documents, years that were part of a streak of futility that has now reached 18 straight losing seasons. The team's ownership also paid its partners $20.4 million in 2008.
The documents offer a rare peek inside a team that made money by getting slightly less than half its income (about $70 million) from MLB sources - including revenue sharing, network TV, major league merchandise sales and MLB's website. The team also held down costs, keeping player salaries near the bottom of the National League, shedding pricier talent and hoping that untested prospects would blossom.
The club's earnings were included in nearly 40 pages of statements that the Pirates submitted to Major League Baseball and were recently obtained by The Associated Press. Team officials briefed local reporters on portions of the material Sunday. The AP wasn't invited to the session, which owner Bob Nutting said was "aimed at the recent leak."
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