In Major League Baseball, as in life, those with the most money can afford to make the most mistakes.
The Pittsburgh Pirates can't afford many mistakes, which is why, in the midst of the team's 11th consecutive losing season, owner Kevin McClatchy has unloaded nearly 25 percent of its $42 million payroll in the past week.
"If [New York Yankees owner George] Steinbrenner makes a mistake, it's not as penal as it is for teams like the Pirates, the [Minnesota] Twins, the [Kansas City] Royals and the [St. Louis] Cardinals," says Patrick J. Rishe, an associate professor of sports economics at Webster University in St. Louis.
For years, the Pirates and their fans have bemoaned their franchise's small market status, saying it puts them at a severe disadvantage with teams from much larger cities. But there are plenty of exceptions to that rule and there's no better place to start than the New York Mets.
According to Rishe, only the Yankees -- at $180 million, including benefits -- have a larger payroll than the Mets, at $116 million. Yet going into their game last night against the economically challenged Montreal Expos, the Mets had a 42-57 record -- six more games below .500 than the Pirates -- while the small market Expos were 50-50.
"It's not as much about payroll in terms of dollars. It's more about value," says Stephen Walters, an economics professor at Loyola College in Baltimore who writes a weekly feature for Sporting News. "They [the Pirates] bought some very poor value over the last couple of years."
Walters says the most sought-after players generate significantly more revenue for owners of big market teams than they do for the owners of small market teams, estimating the ratio at about 6-to-1. That is, good players who play in big markets tend to sell more merchandise and generate more fan interest via ticket sales and TV contracts than those who play in smaller markets that are limited in the audience they can draw.
"Jason Kendall's contract is a good example. He may be a $10 million catcher in the biggest possible market. He's not a $10 million catcher in Pittsburgh. Even $8 million for [Brian] Giles is stretching the value in a market the size of Pittsburgh."
Sports economists say the cost-cutting moves give McClatchy and General Manager David Littlefield more flexibility to rebuild the team with younger, less expensive talent. But sports economists say it's difficult to determine whether those savings will be offset by lower revenue from ticket and concession sales, memorabilia and other sources.
There's no doubt it jeopardizes attendance at a time when, at the tender age of three, PNC Park is starting to lose some of its luster.
At 9 1/2 games behind the Houston Astros in one of baseball's weaker divisions, the Pirates are testing the silver screen theory that if you build it, they will come.
"Your won-loss record is a very important determinant of current revenue, as well as last year's won-loss record," says Charles R. Link, an economics professor at the University of Delaware.
It could be argued that is what the team attempted to do in last off season, when it acquired center fielder Kenny Lofton, veteran outfielder Reggie Sanders and pitcher Jeff Suppan at relatively bargain prices, giving Pirate fans hope the team was serious about contending this year.
"From a marketing perspective, to get people in the stadium next year, they're going to have to do some of that" again -- find competitive players at good prices, says John Clark, an assistant professor of sports management at Robert Morris University.
Even if the team doesn't win, the Pirates could do just as well if not better financially with the smaller payroll. In fact, Clark believes the new stadium can still attract fans "despite the product on the field. ... I wouldn't be surprised if they come close to the attendance numbers they hit last year."
While fans feel betrayed by McClatchy, Walters says there's plenty of evidence teams with payrolls of $40 million to $50 million can compete, citing the Twins, who made the playoffs last year, and the Royals, currently atop the American League's Central Division.
"I don't have anything bad to say about what Littlefield's done so far," the Loyola professor says. "This is not a symptom that they don't know what they're doing. Actually, it's a symptom that they do know what they're doing."
Len Boselovic can be reached at lboselovic@post-gazette.com or 412-263-1941.
In small markets, the home team can't afford errors 
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