• Loading stock data...
Friday, November 22, 2024

The Home Run Derby Has Become a Big Business Opportunity

  • An adjusted format and a narrowing gap with All-Star Game ratings highlight the event’s importance.
  • The Orioles’ Gunnar Henderson could more than double his 2024 salary if he wins.
Apr 29, 2024; Baltimore, Maryland, USA; Baltimore Orioles shortstop Gunnar Henderson (2) swings through a first inning solo home run against the New York Yankees at Oriole Park at Camden Yards.
Tommy Gilligan-USA TODAY Sports

ARLINGTON, Texas — A potentially massive payday awaits Orioles shortstop Gunnar Henderson (above) if he wins Monday’s Home Run Derby, just one of several major developments surrounding the event that is an increasingly critical part of MLB’s All-Star Game events.

The league will again offer the champion a $1 million prize, the amount that has been in place since 2019, and $750,000 to the runner-up. Since that dramatic shift from the prior top prize of $125,000, the derby winnings have provided transformative income for prior winners such as the Mets’ Pete Alonso and Blue Jays’ Vladimir Guerrero Jr.

Such is the case again for Henderson, who is earning $756,200 for the 2024 season, and could surpass that in just a couple of hours Monday night. In just his second full season in Baltimore, Henderson currently leads all eight derby participants with 28 home runs, third best in MLB behind icons Aaron Judge and Shohei Ohtani, and has the third-best betting odds to win the event. But he has the lowest salary in the group, with the other seven competitors ranging from $2.7 million (the Royals’ Bobby Witt Jr.) to $20.5 million (Alonso, following an offseason arbitration deal).

“I’m doing this for the experience, and I’m looking forward to it,” Henderson said of the derby Monday afternoon at Globe Life Field. “I do have a wedding coming up this offseason and we’re looking for a house, and [the prize money] definitely would help.”

The $1 million top derby prize, meanwhile, has been recently equaled by the NHL for its All-Star skills competition, won in February by Oilers superstar Connor McDavid, and is far in excess of the $105,000 award for winning the NBA’s Slam Dunk Contest and $60,000 for the 3-Point Contest.

Adjusted Format

The 2024 derby will be the first with an adjusted format that will employ a maximum number of pitches (40 pitches to each batter in the first two rounds and 27 to each of the two finalists). Those thresholds exclude bonus pitches, which are now on an outs-based system instead of a timer. 

The combination of both outs and a timer (three minutes in the first two rounds, two in the final round) to govern the event could prove confusing for some viewers. But the tweaks are designed to help limit hitter fatigue during the event, which in turn could help prevent injuries and encourage more stars to participate in the future. ESPN, meanwhile, believes it will create a better flow for its derby broadcast. 

“Guys aren’t going to be as exhausted. You’re going to see guys maybe take their time … feel like they can get in a groove,” said Todd Frazier, ESPN analyst and winner of the 2015 derby while playing for the Reds. “I think it does help out [with] the exhaustion level of the whole derby.”

Fan Metrics

The ongoing popularity of the derby is also helping position it as a near-equal to the All-Star Game itself, an event nearly 50 years older and the foundation of the league’s entire week of activities.

Last year’s average derby television audience of 6.11 million, while the lowest in five years, was 87% of the viewership of 7.01 million for the All-Star Game. Compare that to 10 years ago, when the 2014 derby audience of 5.4 million was just 48% of the All-Star Game’s draw the following night. 

Sports TV ratings expert Douglas Pucci predicts that the remaining gap won’t be closed just yet, in part because of the frenzy around Pirates rookie phenom Paul Skenes, who will start Tuesday’s game for the National League. Pucci projects 5.3 million viewers this year for the derby and the All-Star Game remaining flat at 7 million. ESPN, meanwhile, sought to distance itself from any head-to-head matchup.

“The Home Run Derby continues to be one of the most-watched events of the summer, and it’s long been a staple of our schedule this time of year,” said Ashley O’Connor, ESPN vice president of programming and acquisitions. “We don’t view it as a competition.”

The parity can also be seen on the ticket resale market, where low-end, get-in prices for both the derby and All-Star Game were hovering around $130 each early Monday.

—Senior reporter Michael McCarthy contributed to this report. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Rays $1.3B Ballpark Plans Stalled by Bond Delays, Hurricane Fallout

St. Petersburg officials vote to delay bonds for a new ballpark.
Sep 25, 2024; Uncasville, Connecticut, USA; Indiana Fever guard Caitlin Clark (22) reacts during the first half against the Connecticut Sun during game two of the first round of the 2024 WNBA Playoffs at Mohegan Sun Arena.

Caitlin Clark Has Told Unrivaled She Won’t Play in Inaugural Season

Clark has definitively told Unrivaled that she won’t be playing this year.

From WWE to Washington: Linda McMahon Is Trump’s Pick for Education Secretary

McMahon was the president and CEO of WWE for nearly 30 years.
A photo of Around the Horn's set

‘Around the Horn’ to End 23-Year ESPN Run in 2025

ESPN had reportedly been thinking of canceling the show since the summer.
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Hapless Jets?

0:00

Featured Today

Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up
November 18, 2024

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion
November 16, 2024

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?
November 15, 2024

Executive Decision: When Richard Nixon Named a College Football Champion

In 1969, the 37th president unilaterally named the winner of the season.
Nov 16, 2023; Las Vegas, Nevada, USA; McLaren F1 Team driver Oscar Piastri of Australia (81) during free practice at Las Vegas Strip Circuit.

F1 Welcomes Second Chapter of Polarizing Las Vegas Grand Prix

Both championship battles have yet to be clinched entering the Las Vegas race, which was not the case last year.
Oct 16, 2024; New York City, New York, USA; MLB Commissioner Rob Manfred before game three of the NLCS for the 2024 MLB playoffs at Citi Field.
November 20, 2024

Manfred Urges Patience on Rays Ballpark, Eyes MLB Media Shift

The commissioner also sees a new era emerging in the sport’s local media landscape.
Rose Zhang congratulates her teammate Sahith Theegala after making his putt on the 9th green at the Grant Thornton Invitational at Tiburon Golf Club in Naples on Friday, Dec. 8, 2023.
November 20, 2024

TGL Considering Mixed Event, Women’s League Amid LPGA Talks

The new league from Tiger Woods and Rory McIlroy launches in January.
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.
November 19, 2024

LPGA’s Richest Season Ever Set to Crown a Record-Breaker

The current record is $4,364,994 by Lorena Ochoa in 2007.
Jalen Brunson (left) and Rick Brunson
November 19, 2024

Knicks Say NBA Is Out to Get Them After Latest League Probe

The team accused the league of retaliation Monday.
May 5, 2024; Cleveland, Ohio, USA; Cleveland Cavaliers guard Donovan Mitchell (45) celebrates with guard Darius Garland (10) after Garland hit a three point basket during the second half against the Orlando Magic in game seven of the first round for the 2024 NBA playoffs at Rocket Mortgage FieldHouse.
November 18, 2024

Undefeated Cavs Chase History in NBA Cup Showdown vs. Celtics

Cleveland is 15–0 to start the season.
November 15, 2024

How Taylor Swift’s Tour Is Fueling Blue Jays Owner’s Sports Empire

There have been multiple intersections between the company’s sports assets and the pop icon’s Canadian concerts.