Here’s to more good than bad this week!
From Terry Pluto:
Team President Chris Antonetti wanted everyone to know what was coming in 2021, and it was going to be depressing. At least, when the subject was money.
“The reality of the finances in baseball for 2020 was the industry lost billions of dollars,” said Antonetti. “As a team, we lost tens of millions of dollars, more than we expected. So that puts us in a really difficult financial position that will take us years to recover from.”
Remember that 2020 was the COVID-19 year with no fans in the stands and a 60-game schedule.
“It’s a real cash loss and we had to borrow a lot of money to be able to fund it,” added Antonetti.
Wednesday, it was different. You could sense a sigh of relief from the franchise during its postseason review for the media, blowing away some of the financial gloom and doom of a year ago. The team will not return with a $50 million payroll, the second-lowest in the MLB in 2021.
“We’ll have resources to invest in the team,” said Antonetti. “We expect to pursue both internal and external investments.”