Owning the Angels Has to Be Worth It
The comments by Jackie Autry (Aug. 20) concerning the alleged lack of profitability of the Angels are utterly ludicrous.
It is commonly known that the club, for which Mr. Autry paid $2.45 million in 1960, is worth today vastly in excess of the $120-million valuation of the Baltimore Orioles.
Even assuming that the Angels are worth only $125 million today, Mr. Autry has earned, since 1960, on the average close to $4 million each year on his original investment. All he has to do is sell his “unprofitable†investment and get rid of the headache.
It will be some time before Mrs. Autry will have to go back to work as a bank vice president for a measly $60,000 a year. Indeed, if the franchise should sell for $125 million, Mrs. Autry could pay herself a salary of $60,000 a year for some 2,083 years before running out of money.
HENRY J. SHAMES
Santa Barbara
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