New York Mets’ full-to-the-brim coffers

Article posted by Coliseum, March 14^th, 2023

Image: Aecom

The Queens Ballpark Company, which is a subsidiary owned by the Major League Baseball (MLB) team New York Mets that operates the Citi Field in Queens, New York (US), earned a record $244.3 million in revenue in 2022.

‘si.com’ stated that of this figure, $133 million came from ticket sales, while luxury suite premiums added on an additional $10.3 million.

Flushing, New York (US)-based the Queens Ballpark Company LLC designs, constructs and operates real estate properties. The company is a wholly-owned subsidiary of the New York Mets and owns Citi Field.

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The New York Mets are an American professional baseball team based in the New York City borough of Queens (US). The Mets compete in Major League Baseball (MLB) as a member of the National League (NL) East division. They are one of two major league clubs based in New York City, the other being the American League’s (AL) New York Yankees.

The 41,922-capacity Citi Field is a baseball stadium located in Flushing Meadows, Corona Park in New York City, United States. It opened in 2009 and is the home field of Major League Baseball’s New York Mets.

‘si.com’ further stated that next on the list, advertising ($48.5 million) and concessions ($22.3 million) came in as the second and third biggest revenue drivers. Parking fees brought in a total of $12.4 million.

For the Mets’ three-game Wild Card round series, the park generated $7.7 million.

With operating expenses being $114.7 million, the Citi Field generated a net profit of $129.6 million.

The previous numbers do not include revenue sources such as media rights. The Mets earn over $80 million from SportsNet New York (SNY), and over $60 million from national broadcasting deals that are distributed evenly to all teams in the league.

The Mets spent close to $500 million on player salaries in free agency this year, which brought their payroll up to $370 million. While team owner Steve Cohen said his team lost money in 2022, he declined to reveal the number.

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