by teams. Indeed, teams are showing they can win a lot without exceeding the tax threshold.$12 million penalty
The Dodgers had operating income of $95 million last season, the most in baseball. Such richness is a plus when, as in the case of the Dodgers, the owners are in the process of selling small stakes in the team to limited partners. The new investors will pay more if they believe a dividend is more likely than a capital call.
MLB’s central revenue was $2.76 billion in 2018, while local revenue was $7.29 billion. Thus baseball’s pecking order is driven by ticket, sponsorship and local cable television deals.
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