epanutin medication identification robaxin italiano avodart dutasteride side effects how to order domperidone without script anafranil side effects medication lotrisone vs clotrimazolelovegra cialis 100 mgs tramadol caffeine content of drinks soft drinks unicure shampoo generic viagra pills to buy in usa cockapoo rescue in southern california trileptal oxcarbazepine medication zocor and grapefruit patients tindimax canada redotex for sale propronoial india ketazol tablets permethrin spray insecticide for bed bugs zolpidem er 12.5mg discount can i buy alli diet pills online whitney place assisted living eulexin and pcos natural treatment viagra para hombres prednisone no script gabspentin no presciption reglan breastfeeding dose buy slimex rapidtabs viagra side cabergoline and pregnancy test imovane 7 5mg zopiclone side online elevil nexium over the counter or prescription drug getting viagra overnight nimesulide drug information cyrux pills names of prescribed water pills international drugmart geric viagra purchase strattera 60 mg buy online avodart coupon 2015 the little blue pill wilkinsons eurax cream crotamiton unicure remedies pvt ltd sildenafil citrate vgr 100 facts about blacks viagra cialis online my canadian pharm duloxetine dr 30mg capsules side effects albuterolon line no prescription mobicox 7 5mg oxycodone non prescription nitroglycerin quinine side effects mayo clinic euroclinix hasselt university tretinoin cream online healthy men viagra can i buy metformin over the counter ubat orlistat 120mg side effects of aldara cream for skin cancer arthritis gloves hands best rated flonase nasal spray over the counter domperidone without rx buy valium without an rx zestril 10 mg lisinopril plavix clopidogrel suhagra tablet how cau you order levitra on line clindamicina pretzels retirides otc geodon samples buy beconase aq online tiotropium bromide inhaler lipvas tablets with windows tadalafil 40 mg compe pricing sunsuria berhadapan delicate rx support lidoderm lidocaine patch price diclofenac sodium 75mg reviews subutex doctors near me cephalexin 500mg capsule antibiotic used to treat what is purmycin used for buy viagra without a rx in the us propecia generic name trimetabol uso stock lamisil tablets reviews stilnox 10mg sleep drugs plavix side effects lisinopril side effects toronto drug store phone number xatral medicine uses macrodantin dosage lexapro vs celexa and weight gain amsafast orlistat lantus price in india buy novaldex in glasgow tamoxifen breast cancer side effects trazodone side effects trazodone 50mg chloroquine phosphate tablets dosage acheter suhagra viagra ship to uk flagyl side effects yeast infection increasing breast milk supply when pumping azulfidine sulfasalazine dosage 3 rhinocort nasal spray coupons dormidina information mobicox tabletas next tabs irbesartan 150 mg price women viagra fast uk tabletten zum abnehmen im podofilox 0.5 percent liquid online pharma 24 pharmacy online no prescription buy viagra 100 mg cod the rediculous cost of viagra cheapest prices on suhagra 100 requip for restless leg syndrome side effects gpchealth com suprax for sale celebrex coupons online zocor side effects simvastatin flushing buy paxil online in the usa augmentin for sinus infection in children viagra condoms for sale metformin er 500mg alphagan eye drops dosage seroquel 25mg tablets daily dose of b12 for men aprovel 150 mg tablets female generic viagara 150 mg propranolol dosage for performance anxiety domperidone drug breastfeeding geriforte from himalaya diamox dosage for high altitude finpecia buy chlamydia symptoms men anaphylaxis candian health care mall betneval pommade antibiotique valium and viagra salep zovirax misoprostol vaginally bleeding vigrande nedir llc saroten 25mg benadryl cheap thyroid drugs ketazol tablets with keyboards minocycline hcl 100mg for dogs gabapentin no prescription needed cialis sale lasix side effects in infants augmentin dds composition careprost reviews low priced cialis effexor dosage for depression temovate scalp application forms arthrotec generic cafergot 2013 amikacin peak and trough levels pilocarpine eye drops 4 combivent inhalation aerosol for asthma amoxicillin sake online uk viagra fast delivery omaggio hadley 1993 rapharmacy reviews 50rapidtabs clavamox for cats from canada chigualos cortos pixar can i buy tetracycline over the counter keflex or zithromax for sinus infection zestoretic tabs 10 12 5/8 alphagan 0.1 generic nartea publishing viagra professional 100mg cardizem cd side effects ask a patient magnesium citrate saline laxative where can i buy periactin online micardis hct 40mg 12.5mg side effects desyrel side effects medication trimetabol posologie amoxicilline flagyl for body odor flomax dosage side effectsflomist mirapex restless leg syndrome dose ditropan other uses reasonably priced viagra pills on line amlodipine besylate 10mg tmyl when to stop taking prometrium during pregnancy levitra vs cialis which is better male pheromones to attract women sildenafil tablets 100 mg obetrol adderall and alcohol medication online provera percocet withdrawal timeline canada drug superstore vente viagra buy celestamine online buy alli in canada medicinenet static main script increasing semen volume video citrate synthase inhibitors prices of viagra cialis and levitra cheap paxil on line combivent respimat side effects viprogra professional organizer doxycycline side effects in children keflex side effects diarrhea nombres de viagras para hombres aricept and namenda medication levobiotic 500 mg naproxen buy letrozole canada femara doxycycline hyclate cost increase doxycycline 100 mg good price pharmacy zenerx side effects webmd prescription for zyban viapro reviews capsule coffee does generic viagra exist sotalol 80 mg tablet phenigren supposotories online sample cialis who takes echecks for pills ciprobay 500 antibiotics lipvas tablets under $100 quality prescription z pak using paypal narcotics online no prescription peritol pills trusted tablet viagra women viagra pills strattera medication for adhd lidocaine ointment usp 5 what is it used for vardenafil 10mg us pharmacy steroids for arthritis purchase online canadian pharmacy using paypal levoxyl side effects doctor amoxil dosage infections canada escrow pharmacy fertomid 25 torsemide 20 mg diuretic foods branded viagra for sale buy dapoxetine online treat chlamydia and gonorrhea advair diskus overnight shipping flovent hfa 110 mcg price pfizer viagra in malta online xenical over the counter where to buy benadryl for infants flying viagra online ratings canadian viagra 200mg erexin spray tan zoloft side effects first week u sviagra where to buy phenamax cialis combein que ca dur cialis european pharmacy how long do citalopram withdrawal symptoms last rimonabant drug generic viagra costco vosteran search uninstall abc online pharmacy reviews tablete za mrsavljenje hr prilosec otc side effects omeprazole walgreens pharmacy prescriptions singulair for children dosage cipralex antidepressant cheap viagra no prescription cialis france livraison 48 heures drugstore cowboy rxdrugstore medicines for high blood cialis samples usa venlafaxine hcl er 37.5mg for chronic pain cialis on sale online mastercard where can i buy antivirals primatene mist available in mexico sony drama serial adalat full episode baclofen pump implant surgery zocor warning myopathy viagra model tadacip 20 canada plendil 5mg prospect claritin dosage viagra cheap india coumadin blood thinner levels rimadyl dosage for dogs chart canadian pharmacy z pack cheap clomid and cialis casodex 50 mg treatment proventil inhaler coupons cefixime drug action buy cialis daily zetia medication coupons cardura generic n593 buy post cycle therapy online fluconazole side effects in pregnancy cytotec side effects avapro 150 mg generic atacand plus side effects cipla products buy viagra canada review starcef cefixime tablets online no prescrption pharmacy ezetimibe 10mg simvastatin 80mg tab maxalt mlt coupons alli diet pills price desyrel trazodone hcl elocon mometasone furoate 200 mg viagra zyban side effects doctor amantadina nombres comerciales de medicamentos cuckold creek hollywood md fire benicar no prescrition fedeltry healthcare viagra prednisone buy online antabuse side effects diarrhea lagatrim forte indications for cesarean cardinal bird stanozolol steroids for back china online pharmacy mercury drug products benemid classification of plants canadian pharamacy what are the ingredients in neurocet baclofen 10mg tablets cefabiot suspension lift microzide 12.5mg side effects buy arimidex in europe where can i buy cialis on line mexican pharmacies online viagra no prior prescription zyloprim 300 mg espanol verapamil er 240mg capsules cara menggunakan cytotec misoprostol st paul brands angela generic next day ziagra pharmacy propecia generic generic cialis amex cialis professional price micardis medication information atorvastatin 20 mg recall 2012 fucidin cream elocon from indian pharmacy overnight viagra to us cytotec for miscarriage drug indian tadalafil betacin medication for depression buy clomid online with echeck bupropion sr 150 mg side effects amoxicillin without script claravis reviews buy cialas on line from north america androgel side effects for women comprar cialis original suhagraat videos youtube best viagra for women in india ventolin inhaler salbutamol use domperidone for mares synthroid and weight gain doctor dosage of ranitidine for infants reglan breastfeeding viagra cost generic cialis sales on amazon prime propranolol side effects beta blockers anxiety albenza dosage for pinworms paracetamol indications and contraindications lamotrigine 100mg tablets ampicillin without prescription midamor amiloride hydrochloride dostinex and pregnancy tests buy cialis online reviews viagra for sale in uk cheap viagra kaufen billig ramipril medications slut load pregnant with twins signs yeast infection pills over the counter premarin coupon printable 5mg or 1mg of propecia naproxen sodium 550 mg tab tev neurontin medication for mood stabilizer stanozolol dosages for women seroquel dosage for bipolar strattera vs adderall drug furosemide 20 mg picture femara fertility unisom natural nights ingredients is canadian viagra safe nolvadex online india cardizem cd 120 side effects viagra 100mg pills for sale primatene mist inhaler alternative ventolin nebules for inhalation cialis south africa baristanet montclair nj police officer phenergan without prescription fast parcopa vs sinemet side cytotec pills flexidol tablet cases arthritis symptoms what is arthritis prednisone without rx aceon without prescription amitriptyline 100mg tab duloxetine hydrochloride drugs red alert erection in 7 seconds tofranil side effects children mobicox 15 mg indicaciones de esplenectomia rizatriptan benzoate maxalt mlt dosageroaccutanroaccutane baytril dosage for dogs cheapest place to buy viagra viagra pills shipped in 1 or 2 days buy silagra in india wellbutrin for anxiety and ocd toradol 10mg high carbimazole side effects patients thyroxine sodium tablets for sale salbutamol inhaler without prescription lasix and potassium supplementation albendazole cream glaxomed zithromax buy canadian rx no prescription citalopram cialis south africa price prozac withdrawal symptoms cheapest viagra anywhere arimidex 1 mg tablet tiotropium inhaler 18mcg furosemide 40 mg diuretic pictures sumycin dosage calculator buy amoxicillin online levobiotic 500mg to g microcidal vs microstatic anemia domperidone breastfeeding long term sildenafil citrate canada costco hours san diego imoquimod otc milanuncios perros tecker en decadron side effects medication malegra 100 sunrise key eprex dose in dialysis patients doqi ckd kosovarja tu qi ragipi unisom ingredients tablets wellbutrin xl side effects acne doxycycline hyclate uses arthrotec 50 tablets kamagranow uk daily mail casodex medication for prostate cancer cuanto tiempo dura el efecto del viagra trental 500 or 1000 side effects of aciphex medication pyridium dosage for uti seroquel dosage how much does 20 mg cialis cost duvadilan tablet pregnancy can i take bactrim for sinus infection motrin 800 ibuprofen side effects cholesterol medications list buy amoxicillin amazon 252 liposafe weight loss cymbalta 30 mg mail order oxybutynin er 10mg tablets lidocaine and prilocaine cream 2.5 uses artane medication trihexyphenidyl come fare il viagra in casa new healthy man promo code nitrofurantoin no perscription where to buy thyroxine t4 flagyl without script cipralex antidepressant dosage can you smoke promethazine pills effexor side effects effexor xr naprosyn medication drug reglan breastfeeding dosing why is there a shortage of bystolic tadalafil citrate 100 gram buy cheap adalat diflucan for thrush mouth vermox plus medicamento alli 120mg digoxin purchase metallica tour 2015 usa dates nosipren medications cipralex 10 mg cipralex side effects praziquantel dosage for dogs and cats acyclovir medication side effects cymbalta 30 day voucher detrol la 4mg rebate canadian pharmacy no rx rimonabant 20mg levitra states 100 mg precio de pastillas viagra pfizer diane lane movies list viagra for men under 30 in india where to buy luvox nyc] pentrexyl 500 mg capsules drug abuse is generic cialis real celebrex 22mg wellbutrin sr cialis 3 day suhagra 50 mg viagra testim vs androgel reviews indapamide side effects lozol dosage prescription drugs online singulair allergy medicine coupons propecia procepia finasteride bp vrdrug complaints against dentists celexa reviews for social anxiety viagra washington dc flexeril and pregnancy category levamisole wormer for cattle
Home Maury Brown Leaked Documents Show Rare Look at the Finances of Texas Rangers

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 613 guests online

Atom RSS

Leaked Documents Show Rare Look at the Finances of Texas Rangers PDF Print E-mail
User Rating: / 94
PoorBest 
Written by Maury Brown   
Tuesday, 24 August 2010 13:11

Texas RangersUPDATE #2: Hidden columns unearth some interesting tidbits.

  • For merchandise: Revenue increased due to Josh Hamilton success story accounting for 10% of total merchandise sales in 2008.
  • 2008 parking pevenue reduced due to parking being comp'd to season ticket holders due to lot construction.

UPDATE #1: As more time is spent combing through the Rangers spreadsheet, it is becoming more and more clear that the workbook in question is rife with errors. As noted by Brandon Wilson in the comments section, the low $1.85 million for scouting in 2007 is actually an accounting error. A separate sheet shows this to be "ticket office expense". As we note throughout (and will continue to update as we find errors), there are odd inconsistancies, most notably TV and Radio (that has Central Fund money added), and the fact that Net Ticket Sales figures are exactly the same for both 2007 and 2008. This document may well have been a "scratch" workbook for someone, and clearly does not reflect the level of quality that the prior leaked docs show.


Yesterday, Deadspin released financial documents that rarely, if ever, make their way to the public. The Pirates info was leaked late Sunday by The AP, but complete info via screenshots were made available for the Rays, Pirates, Angels, Marlins, and later, the Seattle Mariners.

(See detailed analysis of the Rays, Pirates, Angels, Marlins and Mariners docs)

Today, Deadspin releases the final set of leaked documents; hits the web with information from 2007 and 2008 for the Texas Rangers.

With the prior documents released, the format was screenshots of PDFs. Today's release is screenshots of Excel spreadsheets, of which The Biz of Baseball has copies. There are several sheets detailing adjustments, etc. But the information below is really the bread and butter of them, the Consolidated Statement of Operations.

Here's what stands out:

  • As Net Income shows, the Rangers, via Hicks Sports Group, was running in the red and not profitable (this became patently obvious over the last year-and-half as HSG defaulted on $525 million in loans). Losses of nearly $38 million in 2007 and more than $10.4 million in 2007 show that the club was on uneven footing.
  • Television and radio revenues are striking, until we dug a bit deeper. At $62,583,031 for each year of the contract, TV and Radio appear as a considerable cash cow, eclipising gate. However, MLB's Central Funds are rolled into it; an odd bit of accounting (see supporting table below). Here's why it's odd... When adding in Central Funds for 2008 from a separate "Details" sheet, the figure showed for TV and Radio for 2008 aligns perfectly. However, Central Fund monies were higher in 2007 for the $23,921,288 as opposed to $19,807,000 for 2008. The difference throws the Consolidated table off.
  • What's odd in the sheet is that net ticket sales are identical for both 2008 and 2007 ($39,978,429)
  • The issue of land around the Ballpark was a key topic of discussion during the bankruptcy proceedings. The new ownership group headed by Chuck Greenberg and Nolan Ryan said that they will continue to collect parking revenues through the end of next season. How much are annual parking revenues? Just shy of $3.5 million ($3,496,729)
  • The Pirates, Marlins, and Rays leaked docs showed that sums in excess of $20 million annually might be spent on player development. But, during the Hicks tenure, the amounts were far less totalling $11,210,633 for 2008 and $11,374,366 for 2007.
  • On revenue-sharing, the Rangers received $5,005,398 in 2007 while paying $5,495,300 in 2008.
  • The sheet shows the Rangers spending just over $1.8 million on scouting in 2007, but in 2008 increased spending on scouting dramtically to $7,736,328. This is an error within the document. The $1.8 million points to a seperate sheet cell that is actually ticket office expense.
  • Marketing for the Rangers in 2007 was nearly non-existant with a budget of just over $1.1 million ($1,192,330), but skyrocketed in 2008 to $16,015,916
  • Showing the player contracts are amortized and therefore players are treated as "assets", the Rangers show $13,268,008 in depreciation on contracts for 2008

There's far more in the Excel workbook (here's other nugget noted by Deadspin)... Lots of minutia from the "DL Detail" sheet that gives a glimpse into some interesting nuggets

  • $22,844.58 in ticket exchange revenue in 2008
  • $19,807,000 in Central Fund revenues in 2008 and $23,921,288 in 2007
  • Valet parking pulled in revenues of $497,010 in 2008 and $426,330 in 2007
  • $601.44 was spent by the Rangers for car washes in 2008

 

Texas Rangers Consolidated Statement of Operations


2008 2007
Revenue:


Net ticket sales
$39,978,429 $39,978,429
Television and radio *

$62,583,031 $62,583,031
Concessions
$8,626,703 $8,626,703
Stadium suite rentals
$7,422,263 $4,766,061
Parking
$3,496,729 $3,496,729
Advertising
$14,073,586 $14,073,586
Merchandise sales
$5,817,498 $5,817,498
Other, net
$10,119,679 $10,119,679

Total
revenue
$152,117,917 $149,461,715




Operating expenses:


Player salaries
$76,055,840 $70,671,079
Trade settlement Costs
- $10,814,333
Other direct team costs
$18,097,905 $7,025,782
Player development
$11,210,633 $11,374,366
Scouting
$7,736,328 ** $1,852,136
Ballpark operations
$13,102,368 $7,791,649
Ticket Office
$2,383,508 $16,752,488
General and administrative
$10,505,449 $3,184,123
Marketing
$16,015,916 $1,192,330
Merchandise cost of sales
$4,318,913 ($23,128,925)
Parking
$1,726,479 $12,070,620
Revenue sharing, net
($5,495,300) $5,005,398
Amortization of player contracts
$13,268,008
Loss from player transactions, net
$206,595
Depreciation & amortization-non player
$12,459,069

Total operating
expenses
$181,591,710 $149,818,040





Operating
income (loss)
($29,473,794) ($356,325)
Other income (expense):


Income from unconsolidated entities, net
$1,783,050 $410,312
Gain/(loss) on sale of net assets
- -
Interest expense
($9,991,843) ($9,545,333)
Interest Income
($46,793) $24,049
Income tax benefit
($218,921) ($968,462)

Net income ($37,948,302) ($10,435,758)

** Accounting error. This is actually ticket office expense from a separate sheet in the workbook

 

* Rangers Add Central Fund Revenue to TV and Radio

2008 2007
CENTRAL FUND REVENUE (RGR) $19,807,000 $23,921,288
LOCAL TV-CABLE (RGR) $24,362,460 $15,280,960
Local TV - Fox STARS Cable (RGR) ($434,284) $1,945,593
LOCAL RADIO INCOME (RGR) $2,387,025 $2,317,500
RADIO AD SALES (RGR) $867,234 $952,669
LOCAL TV-OTA (RGR) $13,874,682 $21,712,684
Local TV - Fox STARS OTA (RGR) ($1,519,992) $2,765,809
LOCAL TV- RNGRS DFD PMT AMORT (RGR) $2,113,907 $166,667
Local TV-STARS Dfd Pmt Amort (RGR) $1,125,000 $166,667
TOTAL $62,583,031 $69,229,836

Source: Deadspin

RELATED CONTENT:


Maury BrownMaury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Follow Maury Brown on Twitter Twitter

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?