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Major League Baseball team owner and MLB Commissioner Rob Manfred laments the financial challenges of running the team, especially during the COVID-19 pandemic. Again, MLB earnings are another story.
The league and its players have opened 2022 with a lockout that has severely impacted free agency and forced a postponement of the opening date. Amid negotiations for a new collective bargaining agreement, the team’s owners defended the club’s declining salaries across the sport, citing huge losses from the COVID-shortened 2020 season.
In negotiations with the Players Union, MLB has entered into final agreements with broadcasting partners for broadcast rights deals. A new deal with Apple, NBC, is paired with deals signed with ESPN and FOX over the past few years that meant hundreds of millions of dollars in baseball TV revenue.
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Now, as baseball prepares to introduce advertising on uniforms as one of several new ways to further increase profits in 2023, this past season’s earnings numbers are officially out. .
According to Front Office Sports, MLB made more than $10.8 billion during the 2022 season. It was a record for the sport and surpassed his $10.7 billion earnings from the 2019 season.
MLB earnings by year
- 2022: $10.8 billion
- 2021: $9.56 billion
- 2022: $3.66 billion
- 2019: $10.7 billion
- 2018: $10.3 billion
As noted by Front Office Sports, TV partnerships with FOX, TBS and ESPN alone account for $1.76 billion annually, compared to $250 million in TV revenue the league earned from previous media rights deals. far surpasses
Related: MLB Expansion Is ‘Coming’, 32 Teams Focus
Increasing revenue is also a major turning point in this sport. Despite record earnings, MLB attendance numbers have fallen 6% since his 2019 season. This is due to continued steady declines that have not significantly impacted sports earnings.
The figure also comes years after Chicago Cubs owner Tom Ricketts publicly spoke about the financial loss of “biblical proportions” the owner feared he would experience.2022 In February 2012, former Miami Marlins president David Samson won a number of teams. lost money every season.
The 2020 season has been a financial challenge for team owners, but no different than many businesses that have lost money during the COVID-19 pandemic. One of the big differences to be highlighted in the upcoming Washington Nationals sale is that MLB teams could end up being outwitted in billions of dollars, and league earnings are expected to continue rising year after year. am.
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