• Loading stock data...
Monday, February 17, 2025

MLB, Teams Sue Insurers to Recoup Pandemic Losses

Oakland As
Jayne Kamin-Oncea-USA TODAY Sports

MLB and its 30 teams are suing their insurance providers to cover losses from playing the shortened, and mostly fanless, 2020 season.

Oakland Athletics v. AIG lists insurance companies AIG, Factory Mutual, and Interstate Fire and Casualty Company as the defendants for refusing to pay claims. Along with MLB and its teams, MLB Network, MLB Advanced Media, and Tickets.com are also listed as plaintiffs.

Building A Case: More than 1,500 games were canceled as MLB played a reduced 60-game season. Teams and the league said they lost billions of dollars in ticket sales, parking and merchandise, as well as more than $1 billion from local and national broadcast rights. The losses total at least $3 billion, according to Commissioner Rob Manfred.

The lawsuit argues the league and its teams bought “top-shelf All Risks Policies,” which they believe should protect against the billions of revenue lost because of the pandemic.

More than 1,400 lawsuits have been filed against insurance companies citing pandemic interruption claims. Twenty-seven of the cases have been from the “performing arts, spectator sports and related” sector, according to the Covid Coverage Litigation Tracer by Penn Law.

  • A group of minor league baseball teams lost a similar case against insurers because of a virus policy exclusion.
  • The Atlanta Falcons and Atlanta United have sued insurers to help cover pandemic losses.
  • Houston Rockets owner Tilman Fertitta sued Affiliated FM Insurance Co. this summer to access a $400 million policy.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Feb 18, 2024; Indianapolis, Indiana, USA; Eastern Conference guard Damian Lillard (0) of the Milwaukee Bucks reacts after a play during the second half of the 73rd NBA All Star game at Gainbridge Fieldhouse.

The NBA’s Latest Attempt To Solve the All-Star Game Conundrum

A new mini-tournament on a lame-duck network may not solve the problem.
Sept 5 2024; Flushing, NY, USA; Sara Errani and Andrea Vavassori (ITA) with the US Open trophy after beating Donald Young and Taylor Townsend (USA) in the Mixed Doubles Final on day eleven of the 2024 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center.

US Open Mixed Doubles Changes Spark Mixed Reactions

Shorter sets, quintupled prize purses, mixed response from players.
Dec 22, 2024; Miami Gardens, Florida, USA; Miami Dolphins wide receiver Tyreek Hill (10) runs with the football before the game against the San Francisco 49ers at Hard Rock Stadium.

After Months of Trash-Talking, Noah Lyles and Tyreek Hill Agree to Race

The Olympic sprinter and NFL wideout will race after months of talks.

Dallas Teams Ditch RSNs for New Models. Will Others Follow?

The Metroplex is a crucible of a broader wave of industry change.

Featured Today

Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.

Inside the Push for the NHL’s Next Era of International Competition

Players have been clamoring, and the league is all in.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
Jan 9, 2025; Pittsburgh, Pennsylvania, USA; Edmonton Oilers center Connor McDavid (97) checks Pittsburgh Penguins center Sidney Crosby (87) during the third period at PPG Paints Arena
February 11, 2025

‘Important’ 4 Nations Face-Off Can Be NHL’s All-Star Antidote

“The stars have been lobbying the league for an event like this.”
Brady and Mahomes
February 8, 2025

Chiefs Fatigue Is Real. It’s Nowhere Near Patriots Hate Yet

People who have covered both teams say the difference is stark.
patrick_mahomes

Super Bowl TV Viewership Sinks 8%

CBS Sports’ telecast of the Tampa Bay Buccaneers’ 31-9 victory over the Kansas City Chiefs averaged 91.629 million viewers, down 8%.
person_playing_cricket
December 23, 2020

Prominent Tech Execs Line Up to Back Cricket Growth In the U.S.

More than 20 investors have now bought into American Cricket Enterprise, parent company oMajor League Cricket.
man_riding_stationary_bike
December 28, 2020

Connected Fitness Company Echelon Lands $65 Million Investment

The funding came from Goldman Sachs and North Castle Partners, who now own controlling interests in the company.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
woman_holding_hockey_stick
December 23, 2020

NBC to Air NWHL Finals, Adds to Banner Year for Women’s Sports

It will be the first time professional women’s hockey games are shown live on a major national cable network in the U.S.
antetokounmpo_dribbling_basketball
December 23, 2020

‘Giannis Effect’ Felt by Bucks Following Record-Breaking Extension

Since he was drafted in 2013, the Bucks’ valuation has jumped from No. 30 in the league at $312 million to No. 19 at $1.58 billion.
December 22, 2020

Adam Silver Says NBA Expansion is ‘Manifest Destiny of the League’

“It’s sort of the manifest destiny of the league that you expand at some point,” NBA Commissioner Adam Silver said Monday.
December 22, 2020

Adidas Partners With Jerry Lorenzo, Fear of God Brand

Lorenzo will lead creative and business strategy for Adidas basketball globally, and launch a Fear of God athletics sub-brand.