MLB says it will lose $640K per game if players are paid prorated salaries. MORE:
Painting a picture of a $10 billion industry shuttered by the contagion, the 12-page document titled “Economics of Playing Without Fans in Attendance” and dated May 12 was an initial step in negotiations aimed at starting the delayed season around the Fourth of July.
The New York Yankees alone would have $312 million in local losses when calculating their earnings before interest, taxes, depreciation and amortization. New York's figure includes about $100 million toward the bonds that financed new Yankee Stadium, money that already has been paid for 2020. MLB said 2019 revenue was 39% local gate and other in-park sources, followed by 25% central revenue, 22% local media, 11% sponsorship and 4% other.
Now that plans have been formulated to possibly start the season in early July in disinfected stadiums with no gate revenue, at least at the start, MLB says the current economics are not feasible. Players have said they already made a deal and see no need for change. Player salaries under the March 26 deal average $1.67 million per game for both clubs. MLB projects overall local revenue at $1.23 million a game for both teams and cost at $1.87 million.
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