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MLB Writer explains how MLB owners make their fortunes

(Photo by Jim McIsaac/Getty Images)

MLB commissioner Rob Manfred said earlier in the year that owning a major league team wasn’t as profitable as the stock market.

He was obviously trying to minimize the financial power of the owners to gain some clout in the collective bargaining agreement (CBA) talks.

Of course, people with knowledge of the situation immediately discovered that his statement was simply not true and that MLB franchises are incredibly valuable.

An MLB team generates incredible revenue over the course of a year.

For example, the Atlanta Braves, owned by Liberty Media, reported 2021 revenue of $568 million.

It’s in a year!

MLB owners are making an incredible amount of money

ESPN reporter Joon Lee provided another dose of reality for those who insist that owning an MLB doesn’t make as much money as people think.

“In 2002, Jeffrey Loria bought the Marlins for $158.5 million with a $38.5 million interest-free loan from MLB. He sold the Marlins for $1.2 billion in 2017, earning $1.04 billion over 15 years. If Loria invested $158.5 million in the S&P 500 in 2002 and sold in 2017, he ended up with $200.4 million,” he tweeted.

For those unaware, the S&P 500, or Standard and Poor’s 500, is a stock market index that tracks the performance of 500 major publicly traded companies in the United States.

He had other examples: “George Steinbrenner bought the Yankees in 1973 for $10 million. Today, the Yankees are worth $5.25 billion, which means the Steinbrenners have earned $5.24 billion in 49 years. If Steinbrenner had invested $10 million in the S&P 500 in 1973, he would have $373.9 million instead of $5.25 billion.

At this point, the owners have no way to defend their decision to cancel the games before choosing to negotiate in good faith with the Players Association.

They’ve already canceled two series this season, so if there’s no deal soon, more could be canceled.

Owners have the wherewithal to make a much better proposition.

Let’s hope that happens.

Sports Grp2

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