Pirates prez says debt is manageable
PITTSBURGH -- The Pittsburgh Pirates aren't winners on the field, but they're apparently no longer losers to the banks.
The last-place Pirates were $120 million in debt a year ago yet were in far better financial shape than they were a few seasons ago, according to team president Frank Coonelly.
Under former owner Kevin McClatchy, the Pirates' debt-to-equity ratio exceeded Major League Baseball's standard and the club was forced to ask one of its minority partners -- Bob Nutting, now ...
Read full story