Houston Astros owner Jim Crane is disputing an article on Forbes.com calling his team one of the most profitable in baseball, even as the team is project to have its worst record in history. The Astros sent out a statement saying the article had "significant inaccuracies".
Crane says neither the team nor Major League Baseball divulge profit-loss margins, so the article was based on false assumptions. He said the most significant inaccuracy involved the team's revenues from television broadcasts... when their deal with Comcast has not been finalized.
The Astros issued the following statement:
"We are very disappointed that, earlier today, Forbes released an article that includes significant inaccuracies relating to the Astros’ finances. The Astros do not disclose financial information. However, as MLB will confirm, the information reported in the Forbes article relating to the Astros’ revenues, the Astros media rights fee from CSN Houston, and CSN Houston’s per subscriber rate are all significantly inaccurate. As a result, the conclusion about the Astros operational profit is significantly inaccurate.
The Astros will continue to operate the team in a fiscally responsible manner that will make the City of Houston proud. We are very excited about our accomplishments and we remain steadfast in our commitment to this rebuilding process. We have established a basis of young talent on our MLB roster that will continue to improve. And our minor league system is now one of the best in MLB. As our young prospects develop, we will move them up to the Major League roster and increase our payroll to a level that will allow the Astros to compete for World Championships. The success of CSN Houston is a vital piece of that process and we continue to work toward establishing full distribution."