Forest City Enterprises, presumably as part of their deal with Russian billionaire Mikhail Prokhorov for the New Jersey Nets, filed a 10-K amendment last month that provided the most inside look at a professional sports franchise I've ever seen.
From the filing, we learn that Nets Sports and Entertainment lost, before taxes, $77.2 million in 2009, on par with the previous two years ($76.4 million in '08 and $77.0 million in '07).
The team pulled in $25.9 million in ticket sales in 2009, down from $37.4 million in '08 and $39.9 million in '07. The team scored $32.5 million in television broadcast revenues (local deal is $9.7 million alone) and $13.1 million in sponsorship and promotional revenues.
The team had an operating income of $78.8 million, down from $93.9 million in '08 and $97.0 million in '07. The Nets said they paid their players and staff a combined $66.1 million in 2009, that other team costs added up to $12.6 million and that scouting cost the team $1.5 million.
Through 2014, the Nets currently are on schedule to owe its employees, including players, $118 million. The Nets paid $51,840 per game to lease the Izod Center last season. That price increases by 3 percent each season.
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