Peoria Chiefs hemorrhaging money

[Clem Fandango]

Didn't see it anywhere

 

http://espn.go.com/chicago/mlb/story/_/id/7380197/chicago-cubs-class-peoria-chiefs-losing-money-audits-show

 

PEORIA, Ill. -- A pair of audits shows the Chicago Cubs' Class A affiliate in Peoria is losing hundreds of thousands of dollars a season. One audit raises questions about the long-term ability of the team to continue.

 

The Journal-Star in Peoria reports that the Peoria Chiefs lost $848,000 in 2010 and $678,000 in 2009.

 

Losses in both 2008 and 2007 topped $400,000.

 

The audits were filed with the Peoria County Supervisor of Assessment's Office as part of the Chiefs' appeal of the taxable value of its stadium.

 

One of the audits by the Clifton Gunderson accounting firm raises "substantial doubt about the ability to continue as a going concern."

 

Team president Rocky Vonachen disputed that. He says the Chiefs have been hurt by the weak economy.

[SouthSideRyan]

Then sell the team. Owning a business isn't a guarantee for profit. If you're losing money, get rid of it, or accept that you're going to lose money on your toy.

[Rob]

For anybody who hasn't been to see a Chiefs game, I'd highly recommend it. I didn't make it out there til last season, but I'm planning on going back a bunch next year.

[Castro13]

For anybody who hasn't been to see a Chiefs game, I'd highly recommend it. I didn't make it out there til last season, but I'm planning on going back a bunch next year.

 

Agreed. It is a really good time for a pretty good price. Also very family/kid oriented also. My kids have a blast everytime we go.

[manbearcub]

Probably some fuzzy accounting like all sports teams. Remember the Blackhawks are "losing" money as well.

[NewUserName]

I go to more Chiefs games every year than Cubs games. It is a lot of fun. I do not think I have ever been there when it was full.

[UMFan83]

Chiefs games are probably going to be the most entertaining product to attend in the Cubs organization - including the big league team for the next 2 years. Well maybe not as much 2011, but in 2013 last years draft picks will likely play there correct?

[Garwilly]

Then sell the team. Owning a business isn't a guarantee for profit. If you're losing money, get rid of it, or accept that you're going to lose money on your toy.

 

Who are you ranting against exactly? The Chiefs aren't complaining from what I read.

[SouthSideRyan]

Who's ranting?

[Garwilly]

Who's ranting?

 

Fair enough. Perhaps I should have asked who you're lecturing to?

[SouthSideRyan]

Who's ranting?

 

Fair enough. Perhaps I should have asked who you're lecturing to?

 

NBA lockout hangover

[Atta Boy]

I can't believe this would be a surprise. You can walk up to the box office and get front row tickets right before gametime almost any day. The park is absolutely perfect, though. Its nice enough that I think it could field a AAA team. I know that won't happen but it might get some butts in the seats. I'm guessing that when they put all this money into building a park of this caliber they envisioned a bit more money coming in from the boxes that are empty half of the time. Top notch food too.

[Guest]

Given the prospects likely to be on the team this year, I believe we need to organize a few NSBB outings to Peoria to help support the team.

[toonsterwu]

I go to more Chiefs games every year than Cubs games. It is a lot of fun. I do not think I have ever been there when it was full.

 

I honestly enjoy attending minor league games far more than most major league games. I like it when it isn't as crowded, and you can move around the stadium. I love the cheaper concession prices. Just a far more enjoyable experience than cramming into a stadium, facing crowds and traffic in some form.

[toonsterwu]

Chiefs games are probably going to be the most entertaining product to attend in the Cubs organization - including the big league team for the next 2 years. Well maybe not as much 2011, but in 2013 last years draft picks will likely play there correct?

 

As Tim noted, the 2012 Peoria team, at least, based on what is expected as of now, could be an excellent team to go view. A lot of the young, upside arms should be in Peoria, either in a piggybacking role (which buys us time to see which arms can make it) or in the pen. The lineup should get Reggie Golden, possibly Pin-Chieh Chen, and a good chance that Javier Baez is there. There's a chance that Marco Hernandez or Gioskar Amaya could get pushed up at some point. There's a couple guys I still hold out some slim hopes for - Dustin Geiger and Wes Darvill. All in all, it should be a pretty exciting year down in Peoria, prospect talent wise.

[jumbo]

This made me look up the schedule for our South Bend Silvehawks. Peoria comes here for three games in July that I will probably go watch and hopefully see some good future Cubbies. Went to one a couple years ago and saw Ha, among others.

[Guest]

Chiefs games are probably going to be the most entertaining product to attend in the Cubs organization - including the big league team for the next 2 years. Well maybe not as much 2011, but in 2013 last years draft picks will likely play there correct?

 

As Tim noted, the 2012 Peoria team, at least, based on what is expected as of now, could be an excellent team to go view. A lot of the young, upside arms should be in Peoria, either in a piggybacking role (which buys us time to see which arms can make it) or in the pen. The lineup should get Reggie Golden, possibly Pin-Chieh Chen, and a good chance that Javier Baez is there. There's a chance that Marco Hernandez or Gioskar Amaya could get pushed up at some point. There's a couple guys I still hold out some slim hopes for - Dustin Geiger and Wes Darvill. All in all, it should be a pretty exciting year down in Peoria, prospect talent wise.

Yeah, a lot of the top upsides in the system could be there.