Local accountant reviews Pirates’ books for PBC Blog

Head over to the PBC Blog to check out some research by a local accountant on the Pirates’ books, which includes some refinancing and talk about the team’s credit that’s not generally being discussed. His conclusion?

I continue to contend that the owners aren’t concerned about profits as long as their team can cash-flow itself each year and maybe have to borrow a little to fund operations. Because of the way the value of sports franchises generally appreciates each year in the marketplace, each owner is in it for the holy grail, and that is to sell the team eventually when they realize very nice capital gains

Make sure to read all of it.

UPDATE: Brian Beechman, the same CPA, answered some questions for Pirates Prospects yesterday though I think that was before he really reviewed Deadspin’s documents. Still worth a read.

About Pat Lackey

In 2005, I started a WHYGAVS instead of working on organic chemistry homework. Many years later, I've written about baseball and the Pirates for a number of sites all across the internet, but WHYGAVS is still my home. I still haven't finished that O-Chem homework, though.