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Data: Sportico; Chart: Andrew Witherspoon/Axios

New estimates show how brutal the pandemic was for MLB teams.

What happened: Sponsor revenues fell as much as 60% for most teams, while local media revenues plummeted even more, per Sportico.

  • Plus no fans in stands = evaporation of ticket sales, concession and parking revenues.

The bottom line: Combined MLB team revenue fell by $7 billion.

Go deeper on team valuations.

Go deeper

Kendall Baker, author of Sports
Mar 26, 2021 - Sports

Average MLB team is worth $2.2 billion

Illustration: Eniola Odetunde/Axios

The average MLB franchise is now worth $2.2 billion, according to Sportico's 2021 valuations, released on Friday.

The backdrop: "Every MLB team faced crushing losses in 2020, as combined team revenue plummeted $7 billion, or 67%," Sportico's Kurt Badenhausen and Peter J. Schwartz write.

1 hour ago - World

Iran agrees to resume Vienna nuclear talks in November

Ali Bagheri (R) with Enrique Mora in Tehran on Oct. 14. Photo: Iranian Foreign Ministry handout via Getty

Iran's new chief nuclear negotiator said following a meeting in Brussels on Wednesday that Iran would resume negotiations in Vienna before the end of November, with the exact date to be set next week.

Why it matters: The Vienna talks have been frozen since Iran's new hardline president, Ebrahim Raisi, was elected in June. This is the most direct commitment from Raisi's government to return to the negotiating table.

Dan Primack, author of Pro Rata
6 hours ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).