Twins lose $18.5 million

MINNEAPOLIS (AP) -- The Minnesota Twins posted an operating loss of $18.5 million on $56.2 million in revenue during the 2001 baseball season, according to a baseball management report obtained Wednesday.

The loss is the eighth worst of the 30 major league teams, while the Twins' revenue was the second-lowest.

Baseball commissioner Bud Selig will present the financial report when he testifies Thursday before the House Judiciary Committee in Washington. Overall, only 11 of the 30 teams had operating profits before revenue sharing. The rest of the teams combined for an operating loss of $232 million.

The league's finances have come under scrutiny after baseball team owners decided last month to eliminate two teams to reduce expenses. The top candidates are the Twins and the Montreal Expos, the lowest-revenue teams.

The Expos' operating loss of $38.5 million was twice as large as the Twins' and came on less revenue, $34.2 million.

The Twins revenue includes $17.6 million from ticket sales and $7.3 million from the sale of local broadcast rights. Only Florida and Montreal received less from ticket sales.

The Twins squeaked out a profit of $536,000 when revenue from other teams, including broadcast rights, are included. But with amortization, or the depreciation of a portion of the teams' asset value, figured in, the Twins bottom line turns negative again, becoming a loss of $3.8 million.