re: Did every MLB team make a profit in 2012?

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Salaries are expenses, debt would be stadium, etc.

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It all depends on how they do their books. The players aren't typical employees. They directly generate revenue. Technically you could call them assets, the public european soccer teams consider them assets. The problem is lots of this info is either inside information or a guess. They are private entities and don't have to disclose their books.

Teams get their towns to build stadiums and the league bullies them around and threatens to leave. Its one of the few things I hate about MLB.