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Tuesday, April 16, 2024
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Mets’ Citi Field Earned Record $244M in 2022 Revenue

  • The New York Mets' Citi Field earned a $114.7 million profit in 2022.
  • That figure does not include income from media rights.
A view of Citi Field before a wildcard game between the New York Mets and San Diego Padres in 2022.
Brad Penner-USA TODAY Sports

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.

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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.

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