Forbes:
Almost no one in the Houston Astros organization is making big league money. The highest-paid player is pitcher Erik Bedard, who is playing on a one-year, $1.15 million contract. No one else is pulling in over $1 million a year. That is, no one besides Jim Crane, who owns the worst team in the majors and is quietly making more money than any baseball owner in history.
The Astros are on pace to rake in an estimated $99 million in operating income this season. That is nearly as much as the estimated operating income of the previous six World Series championship teams — combined.
Yet the Astros are 43-86, worst in the majors. Of the 270 Major League Baseball teams who have taken the field since 2005, none have finished with a worse winning percentage than Houston’s.
They have become so profitable thanks to slashed payroll expenses and soaring television revenues. . .
This is a great example on how pro sports has changed where attendance and wins aren’t as important in terms of creating a viable business. With tickets averaging $30 a seat and parking $15, who would want to go to a game anyway?
The rest here.