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NYRB Paints Rosier Financial Picture

Following Ives Galarcep's oft-cited columns about the terrible financial situation of the New York Red Bulls, Big Apple Soccer decided to let the Bulls board respond, which they did, vaguely. "We are proud of what we accomplished in the last 12 months," Red Bull managing director Marc de Grandpre said when asked about the criticism surrounding the energy drink maker's running of the club. "We took a number of positive steps forward in establishing an organization that is built to last," though he failed to elaborate.

He called Galarcep's $14 million figure "inaccurate," though he wouldn't discuss the club's '06 balance sheet. Regarding the Bulls' sponsor exodus, de Grandpre said management doesn't want to "rely on sponsorship revenue as a principal revenue stream," though the team would be adding sponsors that "share similar values of the team," whatever that means. On a bright note, the Red Bull exec said the team would shortly announce a new local TV broadcast deal, presumably with MSG, and that season ticket sales are up 30 percent so far over last season, and that individual ticket package sales were also up 48 percent. For a response to this, you can check Ives Galarcep's Soccer Blog.

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