[新聞]Never Mind the Phillies,Economy Is Rays' Big Foe
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Money Squeeze Play Bedevils Rays By MATTHEW FUTTERMAN
The Tampa Bay Rays have slain the big-market bullies from New York, Chicago
and Boston, but the team will soon face a much greater foe.
"The economy could kill us," says Stuart Sternberg, the team's principal
owner and a former partner at Goldman Sachs.
The Tampa Bay Rays celebrate capturing the American League pennant.
For years, Mr. Sternberg's franchise was the doormat of baseball, a
money-losing team that few thought would ever prove successful. But tonight,
the Rays will begin the World Series at home in St. Petersburg, playing the
Philadelphia Phillies.
Playing with Major League Baseball's second lowest payroll, the Rays owe much
of their success to the long-term contracts given to their core of talented
young players. The deals will allow the team to keep its top players for
several more years, leading many to predict that the Rays could become a
dominant force in the game.
But Mr. Sternberg has a problem: The Rays, he says, can barely afford their
$44 million payroll with their current attendance, and that payroll is going
up. Once the glamour of October baseball fades, the Rays will need to build a
stable fan base in a region that has never truly embraced them -- and it must
do so during an economic crisis that is worse in Florida than nearly anywhere
else.
"There is no doubt doing these things would be a lot easier if you had a
robust national economy," says St. Petersburg Mayor Rick Baker, who has
formed a committee of local business leaders to build support for the
franchise.
The Tampa economy was hit hard by the real-estate bust, and the region
started losing jobs in January 2007, a year before the nation as a whole,
according to Moody's Economy.com.
Rays games at Tropicana Field didn't become a hot ticket until the playoffs,
even though the team was in first place. The average ticket price was $17,
among baseball's lowest. (By contrast, the Boston Red Sox average is $48.)
Attendance at Tropicana Field rose 31% this year, but the team still drew
only 22,370 fans a game, among the five lowest in baseball.
But while local residents tighten their belts, Mr. Sternberg is committed to
loosening his. Even though most players are signed for next year, his payroll
is likely to rise above $50 million next season. Star rookie third baseman
Evan Longoria, for example, who earned $500,000 this season, will receive
$17.5 million over the next six years.
To be sure, Mr. Sternberg isn't shouldering all of the burden himself. The
Rays received more than $30 million in revenue-sharing funds from Major
League baseball this year, people with knowledge of baseball's finances say,
as well as roughly $30 million from the league's central fund, which
distributes revenue from media contracts and merchandise sales.
But other expenses will rise too.
The "Trop," as the home field is known, is a dreary, domed stadium with a
seating capacity of 36,000, though the team is uncovering 5,000 additional
seats in the upper deck for the post season.
The team leases the stadium from the City of St. Petersburg but is
responsible for much of the upkeep, including more than $20 million over the
past three years for a new scoreboard and other amenities. Staying put
through the end of the lease in 2027 would mean tens of millions more. Mr.
Sternberg, a soft-spoken New Yorker who can go virtually unnoticed standing
on the third baseline during batting practice, says the team is unlikely to
be successful if it's still in Tropicana Field in 10 years.
Last year, the team proposed a $450 million stadium on the St. Petersburg
waterfront that included a retractable canopy to repel the hot summer sun and
occasional rain. He offered $150 million for the project, but much of the
financing was tied to the local government's ability to sell and develop the
land around Tropicana Field. As the economy sank, so did any hope of public
support, and Mr. Sternberg pulled the proposal in June.
Now the Rays' owner is looking to local business leaders for help -- people
like Russ Bond, general manager of the Renaissance Vinoy Resort in St.
Petersburg, whose business has owned a luxury suite at the stadium for
several years.
"To me, it's the right thing to do," Mr. Bond says. "People have to see it's
about the team being able to sign these players to long-term contracts."
But there are others, such as Sid Morgan, Central Florida market president
for Humana Inc., the health-care provider, whose enthusiasm is tempered by
the business climate. Mr. Morgan attended more than 20 Rays games this year,
but he doesn't see his company buying more than a six- or eight-game package
for next season.
"Our industry is so tough these days," Mr. Morgan says. "We have to be tight
with every dollar."
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10/23 05:44, , 1F
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