Bill DeWitt Jr., the owner of the St. Louis Cardinals, informed fans during the 2020 Major League Baseball lockout that owning a professional baseball team is not a lucrative endeavor. In June 2020, DeWitt stated, “The industry isn’t very profitable, to be honest,”
That notion was reflected in his remarks during the organization’s Winter Warm Up.
The worth of the Cardinals has skyrocketed to $2.55 billion since the DeWitt family paid $150 million for the team in 1995. Even if the value has increased significantly in just 30 years, it is still an asset that the owner possesses, even though it isn’t liquid cash.
Bill DeWitt Jr. was asked by Jeff Jones of the Belleville News-Democrat whether or not cash flow and income are related to expenditure. Jones also included the club’s sharp increase in value as an update. The way that Bill DeWitt Jr. answered Jones’s query was instructive.
We’ve always had a long-term perspective on this, you know. Therefore, losing money is not something we want to do annually,” stated Bill DeWitt Jr. “There have been years where ownership has made money and years where they have lost money,” he added. “Well, put it this way,” DeWitt said in response to a follow-up question about how frequently they lose money. Our debt has increased, you know. We anticipate significant costs associated with stadium renovations. You are aware that baseball is a difficult business. It’s very competitive, you know. I believe we’ve performed admirably over
the years spent investing our money back into the product.”
For the vast majority of ownership groups, owning a baseball club should not be impacted by whether the business as a whole is profitable or not in any particular year. The St. Louis Cardinals made $372 million in 2023, which was the 13th-highest amount in MLB. After turning around, they spent 57% of their 2024 income on payroll, which was the 10th-highest percentage in baseball the previous year. The money that remained was used for workers, facilities, and other essentials.
Since the Cardinals are not a publicly traded company, the
But they owe the St. Louis Cardinals’ supporters more than they have previously provided. John Mozeliak, the president of baseball operations, has already cut the salary by more than $60 million from 2024, and there’s a likelihood that much more money may be deducted once third baseman Nolan Arenado is traded. It is dishonest to present a rebuild as a “youth movement” by ownership.
I completely support the organization’s internal operations. They have made significant investments in personnel and technology at the organization’s player development and minor league levels. Young players and previous elite prospects are being given a chance to establish their value. In the current baseball age, all of these are crucial components in creating a strong organization. Lying to the supporters is where ownership has gone wrong.
Which years the club has gained money and which have lost money are not disclosed to the general public. The DeWitt family is quite entitled to keep such information confidential.
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