MLB's debt at $8.3 billion after shortened 2020
season during coronavirus pandemic
Posted By: MDConservative, 10/27/2020 10:35:16 AM
There was a lot of money lost for Major League Baseball in 2020. MLB commissioner Rob Manfred told Sportico in an exclusive interview that the 30 MLB teams are $8.3 billion in debt from their different lenders, and they are expected to post between $2.8-$3 billion in operational losses this year. “We are going to be at historic high levels of debt,” Manfred told the website. “And it’s going to be difficult for the industry to weather another year where we don’t have fans in the ballpark...
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Comments:
Your Schadenfreude fix for the day. MLB isn't alone. Many sports teams are leveraged to the hilt. It will be interesting to see how things like multi-million dollar contracts for "average" and lesser players get massaged in the next seasons. The top stars will likely also take a shave.