Your last sentence makes no sense. First, the Cardinals did finance the current stadium they are in. At the time they built the stadium, I worked for a Big Four Firm that audited the underwriting and I saw the numbers. The owners do pay all the players, the debt service on the stadium, maintain it and they make a profit. They are not out of business. The way sports operations work, they charge high prices on food, because the profit on the food effectively pays the maintenance on the stadium. The operating profit is after paying the players, the maintenance people, the front office etc. The financing of the stadium would come out of the $60M operating profit. At the time I saw the numbers, which was way back in 2003 or 2004, the total annual number to service the debt was under $30M. I can't remember when the debt was paid off and there was more than one piece to it as well. But they are making money. Statsman published more detailed numbers above.Ike Hammett wrote: ↑30 May 2025 12:39 pmI can buy $60 million in profit for the team in a year. That's not huge profits, that's not even an Ohtani, maybe a Juan Soto. On top of that, they have to pay taxes on their profits and split it amongst many owners of the ownership group. Is Mr. DeWitt even taking home Steven Matz or Erick Fedde money? Yes, a lot of money for us normal folks but that isn't really huge money AND attendance is down so it might not even be that much.ICCFIM2 wrote: ↑30 May 2025 11:49 amUnprofitable???? There are many reliable sources that have estimated the Cards operating profit is around $60M per year. Sports franchises valuations are outsized compared to their profits. But, the team does make money. Its also not just because what is around the ballpark. At this point given how unsafe downtown has become, you could argue they are profitable despite what is around the ballpark. Also using the Gateway Arch as an example of helping them. How many people go to the Arch and then to a baseball game on the same day?Ike Hammett wrote: ↑30 May 2025 11:32 amBreak it down, just how lucrative is it for them? I will argue the Cardinals and most if not all teams would go out of business if what you state is true. If the Cards went at it alone baseball would look a lot different, it would look like the minor leagues or the Charles Comisky 1920s White Sox. Even the Indians from the movie Major League would have gone out of business. Today the operation is so unprofitable they constantly need bailouts and other infrastructure type money from governments to even stay open. Like the gateway arch national park around the corner, just how profitable is that? They build, maintain and operate that kind of stuff for the people and fans to enjoy, to have a pleasant and exciting place to have fun, create jobs, look nice etc.Monsieur De Treville wrote: ↑30 May 2025 08:02 amThey bought the team for $150 million and almost immediately sold 4 parking garages for $75 million.Ike Hammett wrote: ↑29 May 2025 16:00 pmThat doesn't even beat the S&P 500, it was $150 they bought the team for.Bomber1 wrote: ↑29 May 2025 15:19 pmYou are an idiot plainly and simply.Ike Hammett wrote: ↑29 May 2025 13:03 pmDon't try to frame that as some kind of a cult thing. That's ridiculous! The Cardinals support the community and their fans just as much (if not more) than they get in return. Busch Stadium and the surrounding facilities is my favorite place on earth and I have been to just about all the places worth going to. Nothing wrong with tipping the cap to the people who built it and run it. THEY DO IT FOR US! The least we can do is appreciate it, support it and be loyal to the folks that provide it.desertrat23 wrote: ↑29 May 2025 12:31 pm“Loyal to what provides it?”Ike Hammett wrote: ↑29 May 2025 12:12 pmMove to downtown St. Louis, go to all the games, party at ballpark village, have tons of fun rooting for the club with other like minded people in baseball heaven and be loyal to what provides it. Some of us who have are living the best way any baseball fan can.sikeston bulldog2 wrote: ↑29 May 2025 11:46 am90 percent of the fan base lives far from STL. Me- 800 miles. What are we supposed to do to show fan support in your estimation.
The least you can probably do is not bash on the club
DO NOT QUESTION DEAR LEADER!!!
It's one of the big problems with society, you spoiled rotten entitled brats are never happy and too cool to acknowledge anything, even when it is what you want and ask for. Don't do that, say thanks and have fun, try to get along and support the community. You're completely illogical.
“THEY DO IT FOR US!”
Yes the fact that their $100 million investment is now worth 2.5 BILLION certainly proves that ownership is only “in it for the fans.”
What a dolt!
Owning the Cardinals has been extremely lucrative for this ownership group.
More like a private/ public partnership these days to improve the quality of life for everyone. Mr. DeWitt might wet his beak some but he isn't Rachel Phelps from Major League.
I consider that wetting the beak not some huge obscene rip off of the people that deserves constant harsh hate.
Downtown is very safe. You think it's Gaza here? Probably more likely to get hit by a drunk driver or a teen speeding playing on their phone in your neighborhood, assulted by your husband, get your car stolen by your teen and friends, kid get beat up by a school bully, accidentally get shot cleaning your gun or kids goofing off with them than any random act of anything downtown. And I'm not sure but I think the city and governments pay for tons of cops and security the Cards don't have to cover along with infrastructure and maintenance type stuff etc. that leads to any profits.
If they spent all that money to buy the team, build the stadium, pay all the players and workers, maintain it all on there own, they would be out of business. Certainly not worth the small profits you stated.
Franchise valuations are so high because the demand for ownership is so high, even if the business profits do not justify the valuation. Sports franchises are effectively very rich people's profit making hobbies. Unless something unforeseen happens, if they want to sell, they are likely to make a profit. That profit is not driven so much by the profits of the team itself, but by the fact that the very rich are getting richer and the supply is so small. So if a person wants to own a team, they have to pay an enormous price premium to join the club. When the Dewitt's bought the team, they got a bargain. At the time I saw the price, while I was pretty young in my career, the first thought that went through my head, was gee, I could have put together a group that could have paid that...Of course, they would never have let an unknown group in. It was still a club at that time, the premiums just were not yet in play.