Analysis

Nutting Opens the Books, But Will It Make a Difference?

Nutting Opens the Books, But Will It Make a Difference?

As detailed by Dejan Kovacevic in the Post-Gazette, the Pirates have opened their books as a pre-emptive strike, due to the leaking of team financial records to the Associated Press.  The audited reports released by the Pirates show slightly over $15M in profits in 2007, $14.4M in 2008, and $5.4M in 2009.  More significantly, Kovacevic reports that, according to the Pirates, Bob Nutting has not taken any salary or management fee, and there have been no cash distributions since 2008, but there was a distribution of $20.4M in 2008.

The Pirates’ explanation points to two bases for the distribution.  First, a little over half of the money went to all of the partners to offset income taxes on the team’s 2006-07 profits.  The rest went to the Nutting family as repayment of interest on a loan ...

This content is for Pirates Prospects subscribers only. Subscribers get access to all of our daily articles on the Pirates and their minor league system, with live coverage throughout the system on a daily basis. Our lowest rates are $2.22 per month under our Top Prospect Plan, which also gets you a FREE copy of the 2016 Prospect Guide. Subscribe today to access all of our daily coverage of the Pirates' system.

If you're already a member, you can log in below. If you think you're receiving this message in error, please e-mail tim@piratesprospects.com.

Analysis

Wilbur Miller joined the site in July 2010. He has long been known for his excellent Player Profiles, which he brought to the site in February 2011, combining them with the existing Pirates Prospects Player Pages. Wilbur maintains the player pages section of the site, and provides regular articles to the main portion of the site, including a weekly Prospects Trend piece, featuring the best and worst prospects from the previous week.

More in Analysis

Adrian Valerio TW 81416 4

Adrian Valerio Adds to the Growing Shortstop Depth in the Pirates’ System

Tim WilliamsAugust 26, 2016
Stephen Alemais TW 8616 4

Stephen Alemais Shores Up Error-Prone West Virginia Infield

Abigail MiskowiecAugust 25, 2016
(Photo Credit: David Hague)

Breaking Down Gerrit Cole’s Recent Struggles After Today’s 5-4 Pirates Loss

Alan SaundersAugust 24, 2016
(Photo Credit: David Hague)

Pirates Notes: The Impact of Winning in the Minor Leagues

Alan SaundersAugust 24, 2016
(Photo Credit: David Hague)

Polanco Homers Twice, Nova Pitches a Complete Game in Pirates 7-1 Win

Alan SaundersAugust 23, 2016
(Photo Credit: David Hague)

Pirates Notes: Josh Bell’s Defense Continues to be a Work in Progress

Alan SaundersAugust 23, 2016

Pirates Prospects is an independent media outlet, and is in no way affiliated with the Pittsburgh Pirates, their minor league affiliates, Major League Baseball, or Minor League Baseball.

Copyright © 2016 Pirates Prospects