Lots of people seem to think MLB owners will have the upper hand in a work stoppage because of how much money they make. The opposite is likely true, however. MLB owners have never been more leveraged than they are now, both in terms of debt but, more importantly, brand 1/

Not only do owners owe lots of money on Stadium debt, but they also have debt related to derivative ventures whose revenue is largely derived from the brand (i.e., games being played). 2/

For example, teams that have invested in RSN need games to air. Others that have invested in land development deals need thousands of people swarming the area for 81 days. Derivate businesses the leverage a team brand usually need the team to be playing.