Fortunately for them, the big-spending New York Mets have a ballpark that brings in major profits.
Citi Field’s finances were revealed in documents seen by Forbes, providing a rare look into the major costs and revenue drivers of an MLB team.
The document shows that Queens Ballpark Company, a subsidiary wholly owned by the Mets which operates Citi Field, earned a record $244.3 million in revenue in 2022.
- Of that sum, more than half, $133 million, came from ticket sales. Luxury suite premiums added an additional $10.3 million.
- Advertising and concessions were the second- and third-biggest revenue drivers with a respective $48.5 million and $22.3 million on the year. Parking fees chipped in $12.4 million.
- The team hosted only three postseason games, but those brought in $7.7 million.
Operating expenses reached $114.7 million, meaning Citi Field generated a net profit of $129.6 million.
The figures do not include other revenue sources, namely from media rights. The team earns over $80 million from its local cable network, SNY, and more than $60 million from national broadcasting deals distributed evenly to all teams.
The Mets will spend nearly $500 million on players’ salaries and luxury tax payments this year. Team owner Steve Cohen said that the team lost money in 2022, but declined to say how much.
