After another colossal campaign, the 2024 MLB season has found its winners. Coming in as the early front-runners, the Los Angeles Dodgers emerged from the World Series 4–1 winners, showcasing exactly why they’re the best team in baseball.
Along the way, the Philadelphia Phillies can also be proud of their efforts throughout the season, topping the NL East over the Atlanta Braves and vaunted New York Mets with a 95-67 record and run to the NLDS. In the background during the build-up to this season, there were also plenty of marketing managers who were proud of their efforts.
At least on the financial spreadsheets, many clubs will remember 2024 as a huge breakthrough in sponsorship, partnership, and other such marketing deals. As it turns out, a rule change to emphasize shorter games and more action on the field lit the fuse to an explosion of new deals for the league and its many teams.
Throughout 2024, a tidal wave of new partnerships and sponsorships washed over the MLB. Clearly seeing the increased value and reach of the MLB a couple of years removed from its rule changes to make the sport more accessible, brands were throwing themselves at MLB teams and at the feet of the league’s HQ.
For the Phillies, a deal was made to have the team’s first official jersey patch partner be Independence Blue Cross. It expands on a long-term partnership with the health insurer to get the brand on the team’s jerseys. Many other teams found similar deals to get jersey patch partners, like the Texas Rangers with Energy Transfer.
Ballparks also saw big announcements for a changing of the guard with official sponsors of food and drink. At Oriole Park and Camden Yards, Coca-Cola Consolidated became the official beverage sponsor of the Baltimore Orioles, while Kraft Heinz, the brand behind Heinz ketchup, entered into a new deal with the Chicago Cubs.
One of the more audacious partnership and sponsorship adventures embarked on by a club in 2024 was seen at Truist Park. The Phillies’ divisional rival, the Atlanta Braves, landed themselves an official partnership with Tidal Wave Auto Spa, an official wine partner with Copper Cane Wines & Spirits, and, of course, an official animal health company partner in a deal with Boehringer Ingelheim.
Tremendous Revenues to be Reaped
The MLB has been making big-money deals for years, and now there’s an even greater demand. Take, for example, the deal with MGM Resorts in 2018. That was a four-year $80 million deal that was expanded in 2022. Since then, the BetMGM brand has only continued to grow across the US and with the MLB.
With any source that reviews and ranks online casinos available in the US, here’s a great source, BetMGM Casino scores and ranks well, with its $25 no-deposit bonus making it a hot favorite. As part of the deal, MGM also sponsors the free-to-play Beat the Streak Game, which continues to be a favorite among fans.
As an early mover, MGM will be benefitting from the surge in interest and sponsorship value now offered by the MLB, and when another partnership renewal date comes around, the massive company will likely have to offer up more cash. After all, when MLB partnered with Strauss to be their on-helmet brand partner, it cost the workwear manufacturer around $17 million, which has, in turn, generated a tremendous amount of exposure for the brand.
Overall, team sponsorship revenue is said to have grown by around 23 percent last season, which equates to around $1.5 billion, and given all the new deals that were inked in 2024, that figure looks set to grow again when this season’s books are released.
