Posted on 12/08/2024 9:36:18 PM PST by nickcarraway
What a Juan-der-ful holiday season it will be for the Mets. In a move that will reverberate through not just MLB, but the entire worldwide sports landscape, Juan Soto agreed to a record 15-year contract worth $765 million with the Mets on Sunday, according to sources, to usher in the Winter Meetings.
The deal eclipses the $700 million contract over 10 years (which included significant deferrals) that Shohei Ohtani received from the Dodgers last winter. MLB valued that deal at $460 million in present-day value because of the deferrals.
SNIP
The Yankees pushed hard to re-sign Soto, with managing partner Hal Steinbrenner raising his offer to 16 years and $760 million – more than double what the team gave Judge in free agency (nine years, $360 million) before the 2023 season. Ultimately it was Steve Cohen’s offer that won out, allowing the Mets owner to make a tsunami of a splash for a fan base that has long been frustrated by life in the Yankees’ shadow.
(Excerpt) Read more at nypost.com ...
As a person who admits to not watching baseball since my kids stopped playing I wonder where does the revenue come from to sustain such contracts. Advertisers and fan attendance?
Not much of a baseball fan anymore, but the Yankees really dodged a bullet with this one. Never sign a pro athlete in his prime to a contract that extends beyond the age of 36.
Ya gotta wonder how much money there is in Baseball…
I guess that gives us a good idea of how much money the teams have. Is one guy worth it? Evidently, or the accountants wouldn’t go along with stuff like this.
These huge long-term contracts usually turn out to be albatrosses for the organization. We shall see.
I better step out of the batter’s box and adjust my cup while I ponder this.
Let’s say the Mets draw 30,000 fans a game.
Right now, after their TV contract monies, the Mets have about $64m in excess player contract money, or about $26 a ticket.
With Soto’s signing, they now have over $115m in excess player contract money, or about $47 a ticket!
That means for the next 15 years, each ticket has to have an additional $21 added to it to pay just Soto’s contract.
Obviously unsustainable, and when the TV contracts renew at an extremely reduced price because of lack of viewers on specific platforms, every team will be technically bankrupt. The teams don’t own a stadium, or anything of real value except their TV contract and some season ticket holders, offset by enormous contract liabilities.
When the TV contract money dries up, there are going to be a lot of unhappy players whose deferred payments are suddenly vaporized by bankruptcy.
Pathetic, taxpayers again foot the bill for tickets and for building stadiums.
Pitching wins championships, not outfielders.
Ridiculous. That’s all I’ll say.
Yup—agreed.
The big money is better spent on pitchers—but most tend to burn out rather quickly these days.
I take it back. no money is deferred...
Really it's a combination of analytics, legalization of sports gambling and guaranteed salaries that are destroying professional sports.
Yep, back then it was still just a game. Now, it's a major corporate business.
My all time favorite player:
In 1971, Al Kaline became the first Tiger to sign a $100,000 contract, which is equivalent to $752,342 in today's dollars. Kaline initially turned down the pay raise, saying he didn't feel he deserved it.
22 years with the tigers,
10 Gold Glove Awards
18 All Star Games
399 Home Runs
297 career batting average
Advertising money doesn't just come from nowhere. Everyone who buys any of the advertised products pays for the advertising, including those of us who don't watch baseball.
I remember a Tank McNamara strip from long ago that dealt with the topic of enormous player salaries. The last panel depicted a woman at the supermarket, going into shock at her grocery total, and the caption was, "The buck starts here."
If MLB's only revenue came from gate receipts and pay-per-view television, players wouldn't be paid such ridiculous amounts.
How much does an average ticket cost to a Mets game?
One source says Mets average ticket price over $80.
Dodgers at the top with over $117 avg.
Sources vary a bit.
Most of the time.
The Yankkes had a chance to get Tanner Scott and the passed. The Mets Starting Pitching is still bad.
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