Oh, noes! Just what the world needs now is another Cubs don’t spend enough/Tribune makes too much thread. First, any chart that ranks the Yanks and Boston at the bottom of a financial ledger is very flawed to begin with. You really can’t include franchise value increases on a year to year basis as part of profit. They are just estimates, and can change quickly based upon current business conditions. Also, Forbes mainly based it on revenues. With revenues growing of course the franchise value increases. My take on the Cubs revenues and expenses from last year: 89 mil in gate receipts 30 mil in shared MLB Revenues (national tv, internet, etc) 4 mil in shared merchandising (shared with MLB and MLBPA) 88 mil all other revenue (no real breakdown of this but includes local broadcasting, concessions, parking, rooftop fees, advertising, interest on bank accounts, and any other revenue) ------- 211 mil total revenues 117 mil in player expenses (including benefits and bonuses) 32 mil revenue sharing payment 54 mil other expenses (again no real breakdown available but it includes Wrigley maintenance, Baker/Hendry/MacPhail salaries, all employees salaries and benefits, travel, toilet paper, property taxes, utilities, debt service and all other business expenses) ----- 203 mil total expenses ===== 8 mil operating profit (pretax profit) Nothing there is out of line, and nothing shows that the Trib is running the Cubs as anything other then at a break even enterprise. In fact if you take out the 2 New York teams and Boston which has revenue streams you can’t compare to any other teams, the Cubs had the highest player expenses last year then the remaining 27 teams. Spending has not been an issue; results have (on the field not the business). Not as much as it seems. Steinbrenner owns 38% of the YES Network, so about 70 or 80 mil of broadcast revenues are going there so he is making money there. He has always been profitable until 2004 and likely 2007 where he’s taking a bit of a hit, but he knows he has a limited spending window. The Yankees will get killed in the next CBA. The 80 mil or so they give up this year in revenue sharing and luxury tax will look like chump change with the next basic agreement. That’s why you haven’t seen them tacke on long term contracts the last few years. Explain this on to me. The Cubs were 5th in revenue and 4th in player expenses. How are they being frugal? Every big market team defers revenues to broadcasting outlets. For the Cubs it may be 10 to 20 mil a year. But with Boston it's 40. The Mets 50. The Yankees 80. You can't blame the teams. They are not doing it now to avoid sharing it with the small market teams who are taking it for profit. They are paying teams in Pittsburgh, KC, Tampa, and Florida likely close to 40 mil each this year and they aren't spending it to improve the product.