Red Bull Lost Millions in First Year

Red Bull Lost Millions in First Year

  • Posted by Drew Epperley
  • On March 13, 2007

Just caught this on Ives’s blog, the Red Bulls lost over $14 million last season. $14 Million? Damn, I knew the club was in bad shape of some form, but I didn’t expect $14 million in the red (no pun intended) kind of bad.

But taking a deeper look like Ives wrote about. It makes sense. The team plays in a huge stadium that they hardly ever (unless there is a double-header) see sold-out. They tried their hardest to market this team and drive ticket sales, which really won’t happen until Red Bull Park opens up in a couple years. It was the same problem in Chicago and Denver, and now look at how those teams are doing in their own stadiums (not yet Colorado, but you will see what I mean shortly).

Also, its hard to market a team when you change it’s name and give it a totally new identity. The locals and the area were a little lagging on the change from the beloved (to some) MetroStars to the no so loved (to some or even to most) Red Bull New York. Losses in money because of a name change are to be expected after the first year because of this let alone I think.

Ives also touched on some other issues surrounding the team that makes you shake your head to. The fact that there is NO TV deal in place for the team is amazing. This team is in the largest TV market in the country and probably the world for that matter. Not even some crappy TV channel is picking up their games. And then there is a practice facility issue that just sound pathetic.

If you are a Red Bull fan, you have to count some lucky stars that a company that practically prints their own money (yes, I will use that term from Ives because it is true). Not to mention I do give them credit for getting Bruce Arena to coach and lead this team. Bruce should be able to change some things and get some things going in New York. Still, losing money for any MLS team isn’t a good thing, especially in your largest market.