Giants, A's feeling recession's effects
In a reflection of the slumping economy, the Bay Area’s baseball teams are struggling to boost revenue.
According to estimates by Forbes magazine, Oakland A’s sales rose almost 4 percent to $160 million while San Francisco Giants revenue declined less than 1 percent to $196 million from the previous year.
The figures are part of an annual Forbes report on the business of baseball that studies Major League Baseball’s 30 teams.
Teams did not share data with the magazine and did not offer comment on the report.
Like teams across the country, the A’s and Giants are working to counter the effects that the slumping economy is having on consumers. Both teams are holding ticket prices steady, offering more perks to ticket buyers, cutting merchandise prices and even offering payment plans to fans who are having trouble coming up with cash for season tickets.
The Forbes study indicated that both teams are profitable. The A’s operating income was $26.2 million and the magazine said the Giants’ operating income is $22.4 million.
Baseball’s top team ranked by revenue, the New York Yankees, brought in $375 million last year, aided by lucrative TV and sponsorship deals. Rounding out the top five teams are the Boston Red Sox ($269 million), New York Mets ($261 million), Los Angeles Dodgers ($241 million) and Chicago Cubs ($239 million). The Giants are eighth on the list, and the A's are 26th.
Baseball’s lowest revenue club is the Florida Marlins, who brought in $139 million last year.
