I can't recall where I saw the #'s, but in 2023 they supposedly lost $12 million on operations, while having a $155 million payroll and $54 million in local TV $$. They have also always said that ~55% of revenues go to payroll. Using that as a baseline, the "break even" payroll in 2023 would have been ~$148 million.
In 2024, the TV revenue dropped to ~$42 million. That would lower the breakeven payroll to $141 million. They actually cut it to $135, probably because they only went back to Diamond at the last minute and were assuming it would be lower.
In 2025, they raised it to $140 million. No one knows the true TV revenue for 2025, but I'd estimate it at about $30 million. The break even payroll would be ~$134. They would have gotten under it with all the trades, though I'm sure attendance was far lower than projected. They probably lost $$ but not a ton.
Even holding TV revenue the same for 2026, a $130 million payroll would be very reasonable.