Sports Business : MLB set to lose $640K per game in 82 game season

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Major League Baseball (MLB) is predicting the organization will lose an average of $640,000 for each game in the 82-game season this year, according to a memo sent to the players’s union Tuesday obtained by the Associated Press.

On Monday the owners of MLB approved a plan that could start the season around July 4 in ballparks without fans. The sports industry, which has been threatened by the stay-at-home put in place because of the coroanvirus pandemic, generates billions in direct revenue and through advertising.

The empty stadiums are projected to cost the $10 billion industry a $4 billion loss this season. Of the revenue that does come in this year, 89 percent will go toward paying players.

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According to the AP, the New York Yankees alone are projected to lose $312 million, making them them the hardest-hit team in the league.

The Los Angeles Dodgers plan to lose $232 million in local losses, followed by the New York Mets at $214 million then the Chicago Cubs at $199 million.

MLB safety proposal : 10000 Covid19 tests, social distancing, no spitting

Meanwhile MLB is planning to make a mid-June return to facilities and early-July Opening Day. The league is also putting a process for thorough safety process in place before the season can be started. MLB’s ambitious return-to-play plans during the coronavirus pandemic include processing upward of 10,000 COVID-19 tests per week, overhauling stadiums and in-game settings to encourage social distancing, and rigorous rules intended to prevent the spread of COVID-19, according to a draft of the league’s health-and-safety manual obtained by ESPN.