It's not directly comparable, but you have to think in line items and ratios and decide how their revenues and expenses would relate to ours. I mean, of course the Cubs bring in more revenue than the 2009 Marlins, ffs. We have discussed the Forbes estimate of ~$450m in 2018 revenue which is about 3.3x the $135m the 2009 Marlins brought in. With that said, the Cubs expenses are a hell of a lot larger, too. For example: Florida's baseball payroll was 5x smaller. Their FO staff was probably far smaller and worse paid than the 2018 Cubs FO. To your point, they were running a dirt cheap operation: they probably didn't invest much in their ballpark, marketing/promotions, or non-FO operations staff. And we know that over the past 5 years, The Cubs have an (almost) renovated stadium, a new spring training facility, a new dominican facility, etc. It's unclear whether these projects were financed over time to lessen the cost impact in a single year, but that would be the fiscally prudent thing to do. I am hopeful that the development in the neighborhood brings a ton of revenue that the ownership puts back into the team. I also don't know the mechanics of how it was financed or the breakeven analysis that was done for any of those projects. I don't think it's unreasonable to assume that the hotel is not printing much more money than its burned to date given the upfront costs. the cubs, as an entity, are worth 3-4x now what they were a decade ago. this comparison is completely faulty and meaningless.