During the World Series this past October, MLB Commissioner Rob Manfred hinted that the league office was approaching $11 billion for the past season. Well the numbers are out and he was right on the nose. Major League Baseball generated $10.8 billion according to a Forbes report.
Let’s remind everyone that revenue does not equal profit. The article written by Maury Brown details how new media rights deals, full attendance at the start of the year, and new partnerships with advertisers – including FTX before the bottom fell out.
Furthermore, this year will be the first year teams will be allowed to sell a sponsorship patch on the jersey, just like we see in the NBA. So fi you ask advertisers and companies involved with baseball, there’s money to be spent – even on the heels of a lockout this past winter.
What should be alarming baseball is the fact that attendance was down again, 6% compared to pre-pandemic levels. Fewer people are passing through the gate, but baseball survived all of the negative press of the lockout to make more money?
As I’m a baseball fan I’m thrilled the health of the sport is in the Benjamins … but still alarmed as to why attendance falls. Maybe a shiny new pitch clock will help move things along in 2023.