Mariners made $11.6 million in 2014
The Mariners presented our annual financial report to the Washington State Major League Baseball Stadium Public Facilities District (also known as the PFD) at the PFD’s quarterly board meeting on Monday. Based on increased attendance (over two-million fans in 2014) and other revenue gains, the Mariners made $11.6 million in 2014. (Here’s a link to a story Greg Johns posted on mariners.com.)
In 2013, the Mariners lost $3.6 million.
Per our lease for Safeco Field, the Mariners file an annual financial report with our landlords, the PFD. One of the lease provisions includes a commitment by the Mariners to share team profits with the PFD once the Mariners’ losses of over $200 million accumulated from July 1, 1995-October 31, 1999 are recovered.
Through 2014, the “cumulative net loss” had been reduced from over $200 million to $30.9 million. That’s a reduction of 85%. When that number hits zero, the Mariners will share 10% of the team’s annual team profits with the PFD.
Since this ownership group bought the franchise in 1992, there has never been a distribution of team profits to individual members of the ownership group.