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 ...

To continue reading the rest of this article, subscribe to Pirates Prospects. Subscribers get access to every article on the site, along with all of our exclusive live coverage of the Pirates' minor league system, all for a very low monthly or yearly rate.

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

Williams: Five Pirates Prospects Who Could Eventually Move to the Top of the System

Tim WilliamsJuly 23, 2017

Barrett Barnes is Using Naysayers as Motivation in Return From Latest Injury

Brian PelozaJuly 22, 2017

Blake Cederlind’s Move to Bullpen May Be His Saving Grace

Abigail MiskowiecJuly 21, 2017

A First Look at 2017 Pirates Draft Picks Hunter Stratton and Alex Manasa

John EshlemanJuly 21, 2017

Pirates Complete a Four Game Sweep of the Brewers, Getting Back in the NL Central Race

Alan SaundersJuly 20, 2017

Williams: Ten Players Who Could Move Up in Our Prospect Rankings This Year

Tim WilliamsJuly 20, 2017

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