Actually, it is. And no, it isn't. You can ask a700 whether or not TV revenues are higher than gate receipts for MLB teams, and he will promptly tell you that no, they aren't, even for the Yankees and Dodgers. Their total revenue for 2012 is the 471 million presented by the Forbes website (Net stadium revenue includes all of the revenue that is directly generated by the Yankees' on-field product, including concessions and TV money).
Besides their 236 million dollar payroll obligation, they also had expenditures in the form of NYS payments, and the lux-tax hit which i read somewhere averages out to around 20 million dollars.
That's nearly 300 million dollars in expenditures. Do you really think they would further increase spending and cut into their (relatively low) profit margin? I highly highly doubt it.