The Pittsburgh Pirates lost about $7 million...
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The Pittsburgh Pirates lost about $7 million in 1986, their first season of ownership by a public-private coalition, but managed to trim losses by 25% from the year before, Malcolm Prine, the team president, said.
About 40% of the $7,071,654 losses, or $3 million, resulted from the release or trading of veteran players owed money under long-term contracts. Outfielder Steve Kemp, for example, was owed more than $2 million when he was released last May.
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