Amount of Money 'Average MLB Owner' Has Made Since Start of Pandemic is Staggering
By Michael Luciano
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Most MLB players have a finite window of earning power during their pro careers, as the majority of said careers don't even make it out of the single digits. Billionaires who own MLB teams, however, can make money until the day they die just by virtue of owning one of baseball's 30 cash cows. Still, in the extended labor negotiations centered around getting a 2020 season started, it's the owners who are saying they don't have the money to pay players despite evidence that proves them categorically wrong.
US billionaires have made, on average, around $715 million since the start of the pandemic, demonstrably proving that the owners have more than enough money to both pay the players a prorated salary and pay minor league players, despite the lack of games.
At this point, I'll point to my own math that shows the average MLB owner (and all US billionaires) have gotten $715 million wealthier since the start of the pandemic. Pay your damn employees. All of them. 15/n https://t.co/WksbfWRRMX
— Daniel R. Epstein (@depstein1983) June 14, 2020
Between that and the billion-dollar deal the league signed with Turner a few days ago, there is certainly enough money lying around for the league to be able to sustain a brief period of unprofitability.
The value of an average MLB team has risen by more than $1 billion in the last six years, and only the Miami Marlins did not turn a profit last year. The owners still crying poor despite Scrooge McDuck-style pools of gold coins in reserve is the main reason why labor negotiations continue to stall.
My col: Don't let MLB owners cry poor. They can afford to do what's right for game. Value of the AVERAGE team has gone UP by >$1-BILLION in just the last SIX years! But MLB refuses to close a ~$25-milion-a-club gap to meet players at 81 g? That's a crime. https://t.co/yo1N8LAT2F
— Thomas Boswell (@ThomasBoswellWP) June 15, 2020
Players have already accepted the fact that they aren't going to receive the full salary for one of the limited number of seasons they can play in MLB, but the owners are going above and beyond to prevent any minor subtraction from the bottom line. That rampant greed is nothing short of despicable.