Tuesday, April 13, 2004
Running Them Like Nobody's Business
Bill Shaikin of the Los Angeles Times explains how the Anaheim Angels can afford the majors' third highest Opening Day payroll, behind only the Yankees and Red Sox.
New owner Arte Moreno says he'll lose $15-$20 million this year, but break even in 2005. He expects revenues to rise from $120 million in 2003 to $140 million in 2004, $155 million in 2005, and predicts the club's player payroll will fall by $10-$15 million next year when $30 million worth of contracts (Kevin Appier, Aaron Sele, Troy Percival and Ramon Ortiz) come off the Angels' books.
Moreno, who made his fortune in the advertising business, has already doubled the club's in-stadium advertising revenue. This year he forecasts $62 million in gate receipts, $22 million from local broadcasting, $21 million from concessions and parking, $18.4 million from stadium advertising, and $16.3 million from MLB's national revenues. Longer-term plans include boosting the club's local media revenues to the level of the Dodgers, who currently receive twice as much as the Angels.
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Bill Shaikin of the Los Angeles Times explains how the Anaheim Angels can afford the majors' third highest Opening Day payroll, behind only the Yankees and Red Sox.
New owner Arte Moreno says he'll lose $15-$20 million this year, but break even in 2005. He expects revenues to rise from $120 million in 2003 to $140 million in 2004, $155 million in 2005, and predicts the club's player payroll will fall by $10-$15 million next year when $30 million worth of contracts (Kevin Appier, Aaron Sele, Troy Percival and Ramon Ortiz) come off the Angels' books.
Moreno, who made his fortune in the advertising business, has already doubled the club's in-stadium advertising revenue. This year he forecasts $62 million in gate receipts, $22 million from local broadcasting, $21 million from concessions and parking, $18.4 million from stadium advertising, and $16.3 million from MLB's national revenues. Longer-term plans include boosting the club's local media revenues to the level of the Dodgers, who currently receive twice as much as the Angels.
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