Biggest Loser from the COVID-19 Fallout: Mookie Betts

He was supposed to be baseball’s next $400 million dollar man, and rightfully so. Mookie Betts was in pole position to have a monster offseason, where he would become the most sought-after unrestricted free agent.

The Red Sox had reportedly made several attempts to restructure the contract with Mookie. In 2016, he declined a five-year, $100 million deal. Following the 2017 season, Betts again turned down an offer of an eight-year, $200 million dollar contract. After his 2018 AL MVP season, Mookie was offered a ten-year deal, worth $300 million in the offseason. Mookie counter-offered with twelve years at $420 million. In an effort to recoup something in return for Betts, Boston dealt him away after the 2019 season. He was traded to the Los Angeles Dodgers after insisting on hitting the market in search of his desired price tag. 

Like every other business, the market for athletes is dependent on the total market revenue. With the stoppage of play, each team will be affected differently. According to the New York Times, the LA Dodgers are currently at $232 million in local losses, with teams like the New York Mets, Chicago Cubs, and Boston Red Sox close behind with $214 million, $199 million, and $188 million in losses, respectively. 

Even if there is an abbreviated season, teams will lose out on a significant amount of revenue. This will take away from their ability to pay out contracts after the season, and the market will see an overall dip.  The Athletic’s Peter Gammons suggested that Betts would be “lucky” to earn a deal worth $250 million in the current market.

While it was unforeseeable during prior negotiations, Betts must be kicking himself over what could have been. He might not command the $420 million dollar price tag he was in search of, but he has a lot to prove if baseball is to be played this year. 

Does Boston now have the ability to offer Betts a competitive contract offer, due to the expected market dip?

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