Monday, August 26, 2013

Astros to net $99m in operating expenses

An article from Forbes this morning says the Astros are on pace to net $99m in operating income for the 2013 season - "more than the estimated operating income of the previous eight World Series champions - combined."

Crane and the Astros did not respond to Forbes' requests to discuss finances and rebuilding strategy.

(Crane) will likely use some of the cash flow to pay down the reported $275 million debt he took on when buying the team. He financed the purchase with a $220 million loan from Bank of America and assumed $55 million of debt from a previous loan with Major League Baseball, according to the Sports Business Journal.

Forbes' valuations and estimates of operating expenses aren't always right on the money (see what I did there?) but you can bet the basic premise - which should come as no surprise - is that the Astros are making a lot of money this season. 

I'll have some thoughts on this later, after the next cup of coffee. 

But for now: