Tampa Bay Times, June 25, 2012. Letter to the Editor
The ongoing saga of attendance at Rays' baseball games has seemed to me over the past five years a little beside the point. The team's value has increased from $145 million, when owner Stuart Sternberg "bought his initial stake" in 2004 (according to Paul Sullivan in the New York Times on June 2), to $323 million, as reported by Forbes in March. The size of that "initial stake" was not made public, but it would appear that Sternberg saw well over a 100 percent increase in his investment in eight years, if the reporting is accurate. In other words, the team has more than doubled in value during that time. Would you be happy with that rate of return?
Eventually fans will come to the Rays' stadium, wherever it is, but don't weep about the financial straits of Sternberg and the rest of the Rays' ownership. They're doing just fine.
Edward Cifelli, Dade City
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