What is the ticket sales for MLB
Some Chicago Cubs players can see their salaries double after World Series win
Editor-in-Chief: Emily_Wilcox, email
It finally happened. After 108 years of heartbreak and suffering, the Chicago Cubs have won the World Series in seven games. The players who helped the team win its first title in more than a century will likely never have to pay for a meal in the city of Chicago for the rest of their lives. In the unlikely event that a member of the Chicago Cubs has to whip out their checkbooks to pay for a meal in 2016, they likely won't have a problem anytime soon.
Since the first World Series in 1903, Major League Baseball had a policy of allowing players playing on postseason teams to receive a share of the revenue generated by post-season ticket sales. The MLB's collective agreement contains the formula for how the money will be distributed among players after the season.
While all teams involved in the playoffs receive a share of the ticket sales, the World Series team receives the loot. According to Fangraphs, the World Series winning team takes home 36% of the funds put into the "player pool" of playoff revenue. This means that all players who were with the Cubs between June 1st and August 31st will have a vote to decide how that money will be divided. These funds can go to the players they choose, whether it be players who were on the team before June 1 or after August 31, ball boys, or other people who work for the clubhouse.
How much money will the cubs have to share? Well, this postseason sales numbers aren't in yet, but when we hit last year's post-season sales (a record $ 69.8 million) the Cubs will have roughly $ 25.1 million to split. In the 2016 season, 49 different players took the field for the Cubs, meaning that if each player took home a full share, each player would receive $ 512,000. However, this scenario is unlikely because the Cubs are likely to give partial shares to members of the organization who have not accepted the field for the team. Last year, for example, the Cubs shared the income with 60 different people.
(Ezra Shaw / Getty Images)
Even if the money each of the players receives is a little less than $ 512,000, payday will almost double the salaries of some of the key players on the team. According to sportrac.com, Cub's third baseman Kris Bryant, the likely NL MVP Award winner, made just $ 652,000 that season. Along with shortstop Addison Russell who made $ 527,000, heavy bully Kyle Schwarzer made $ 522,000 and finally, the pitcher who was on the mound for Final Game 7, Carl Edwards, Jr. makes the league minimum of $ 507,500!
While the salaries these three players made this season may seem like a lot to some, the money they made this season is a small change for the Cubs player who has the highest average annual salary, Jon Lester. He does average $25,833,333 per year on his 6 year contract / $ 155 million. The postseason bonus probably won't mean as much to him as the three players above.
Congratulations to the Cubs for not only winning the World Series but also making a significant payday.
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