MLB debt totals whopping $8.3 BILLION due to pandemic, says Commissioner Rob Manfred

Major League Basketball (MLB) clubs are set to post operational losses of around $2.8 billion to $3 billion this year, according to MLB Commissioner Rob Manfred. The 62-year-old also gave an insight on the unprecedented levels of debt the 30 clubs find themselves in, with Rob Manfred revealing that the MLB debt has now totalled $8.3 billion. The latest figures come after multiple publications had revealed earlier that several sports teams have borrowed billions of dollars to cope with the coronavirus pandemic.

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Historic levels of debt predicted by MLB Commissioner Rob Manfred

Speaking to Sportico in an exclusive interview on Monday, Rob Manfred said that the MLB debt is going to touch historic levels this season. The MLB Commissioner admitted that it will be difficult for the industry to weather another year with the pandemic in place where no fans are allowed in the ballpark. Manfred also rued other limitations on how much MLB teams can and can’t play as he discussed the financial implications of the coronavirus pandemic.

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Talking about the current scenario, Rob Manfred admitted that he was surprised to see baseball survive up to this point. The MLB Commissioner praised the players for working hard and making sacrifices, as he said that the club people have been great. Applauding the cooperation the sport has received from all quarters, Rob Manfred praised his staff for doing a phenomenal job while conceding that the players’ union helped a lot as well.

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When asked about the future course of action, Rob Manfred conceded that he doesn’t know what happens next. The MLB Commissioner referred to the unpredictability of the COVID-19 virus, as he said that they will have to get closer to next season to make the best decisions. Addressing the rising MLB debt, Manfred said that the economic losses due to the lack of fans and other coronavirus-enforced restrictions have been massive for the industry. The Commissioner explained that the clubs have had to borrow from organizations in order to preserve liquidity.

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MLB viewership: World Series 2020 ratings at a low

Despite not all fans being allowed in stadiums, the World Series 2020 ratings have been at an all-time low. Sports Media Watch revealed that the first five games of the Dodgers- Ray clash generated the lowest World Series ratings on record. Providing an insight into the dwindling MLB viewership, the publication disclosed that the ratings fell a series-high 39%, while viewership was down by 33% compared to last year.

Image Credits: AP