Last June I predicted the Cubs could afford to sign Bryce Harper. Since January I have been trying to learn why my prediction was so inaccurate. In Part I, I explained that I made a $40 million revenue error by failing to properly account for revenue-sharing.
There is more to the story, however.
Forbes reported that the Cubs earned $273 million in operating income from 2016-18, an average of over $90 million per year. Back in 2011, the Ricketts family pledged to reinvest all team profits back into the club.