Baseball’s back
The MLB had its biggest opening day of fixtures for 55 years yesterday, with all 30 teams in action on the first day of the season for the first time since 1968.
One of the biggest results of the day was the immediate impact of new rules and regulations, aimed at speeding up the game. Indeed, the New York Times reported that the average game time was down and hits-per-hour were up as the MLB looks to reinvigorate America’s pastime.
Swings and misses
Even though attendance sunk to a 25-year low last year, the MLB’s been hitting it out of the park financially in the recent past. The organization confirmed that revenue reached a record $10.8bn in 2022, with the uptick reportedly down to new TV deals worth some $1.76 billion a year.
Many of the league's franchises are in good form financially as well. According to Forbes, franchise valuations are up 12% across the board this year, with sides like the LA Dodgers and the New York Yankees valued at $4.8 billion and $7.1 billion, respectively. Such titans, predictably, tend to bring in the most money too, with annual revenue for the Yankees reaching $657 million.
Even with valuations and revenues increasing, a third of franchises still have money problems, including another high-valued New York team. The Mets, despite being valued at $2.9 billion, lost more money than anyone else in the league in 2022, down $139 million, as owner Steve Cohen continues his spending spree.
