MLB generates record revenue during 2022 season
Major League Baseball just saw its teams spend billions of dollars in free agency, and part of the reason is the record revenue the league is set to generate in 2022.
Forbes reported Wednesday that MLB took in about $10.8 billion, the most the league has ever taken in, eclipsing the $10.7 billion generated in 2019.
The amount did not take into account net income (after costs). MLB took significant revenue hits in 2020 and 2021 due to the COVID-19 pandemic, which led to attendance restrictions. The jump in revenue for 2022 came after a 99-day lockout that delayed the start of the regular season.
Forbes noted that MLB attendance in 2022 was down six percent from 2019, but that television revenue from deals with FOX, ESPN and Turner Sports likely accounted for the increase in revenue. A new TV deal with the three began in 2022, worth $1.76 billion a year and a $250 million increase from the previous deal.
The jump in revenue was likely partially responsible for the incredible amount of spending this offseason. At the end of the Winter meetings in San Diego in early DecemberMLB teams had spent $2 billion on player salaries.
The Rangers also got in on the action, landing the most coveted free agent pitcher on the market, Jacob de Grom. The Rangers lured him to Texas with a five-year, $185 million deal that was the richest the team has ever given a pitcher.
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