Economic news has grabbed the headlines in Major League Baseball (MLB) in the last couple of weeks. It all started with the Stephen Strasburg deal, a deal worth $245 million, according to reports. Then there was the reported $324 million record-breaking Gerrit Cole deal that trumped the Strasburg deal by $70 million. Now, according to a Forbes report, MLB revenue for the 2019 season hit a record $10.7 billion.
The $10.7 billion in revenue for the 2019 season is an increase from the $10.3 billion the previous year. According to the report by Forbes, this is the 17th consecutive year that the MLB has seen record growth over the years. In 2017, the MLB first crossed the $10 billion mark. However, despite the record revenue for the 17th year running, the MLB has no plans of slowing down. MLB commissioner Rob Manfred spoke in light of the record-breaking MLB revenue, with the MLB commissioner saying that the league is looking to add even more revenue by adding another media partner.
Rob Manfred said that the MLB is 'thriving' and despite having three media partners in the form of ESPN, Turner, and Fox, the MLB is looking to add a fourth one. The induction of a fourth network partner within the MLB network, however, will depend on how the negotiations unfold, the MLB commissioner added. Rob Manfred concluded by saying that if the league ends up with the three network partners they have currently, they would be "perfectly happy" with the situation. Interestingly, the MLB's current deals with ESPN and Turner run only till 2021. Fox Sports Network, however, signed an extension in 2018. The extension will see Fox cover the MLB till the year 2028. In addition to these deals, the MLB's $1 billion uniform deal with Nike also kicks in next year.