Thursday, December 1, 2011

Forbes: Stu Sternberg Getting Richer

An update to my post from March explaining Rays ownership is doing just fine, despite implying the team is struggling to turn a profit; Forbes reports this week:
(Stu) Sternberg, meanwhile, has turned the Tampa Bay Rays into a perennial playoff team by getting a big bang for the buck from his player payroll. The former Goldman, Sachs partner bought the Rays for $200 million in May, 2004 and the team is now worth $331 million, a 66% gain. The stock market is up only 10% since he bought the team.
For those of you counting at home, even if the Rays claim they lost $15-20 million a season (which nobody in their right mind would believe), ownership could still possibly turn a profit if it decided to sell the team right now.

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