The Twins make $37M/yr on their TV contract. Their payroll is $116M. If we use the premise that the Twins are spending 50% of their revenue on salaries, they are making a huge chunk of cash from their properties (which would include trademarks, advertising, mlb.tv, and the like, not just games, concessions, and events at Target Field). Even if you bump this to 80%, which is an unlikely percentage, they are still making more bank from their properties. The Twins TV contract is not unusual, the Twins are in the middle third of baseball when it comes to TV contract revenue, which suggests that most teams make most of their cash from non-TV revenue. Even the Yankees, who make $100M a year from YES, no doubt make at least that much from property rights including Yankee Stadium.