Want more from Front Office Sports
in your search results?
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.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
