MLBPA increases war chest to $415M ahead of possible lockout

The Major League Baseball Players Association is carrying a war chest more than twice as large as it was before collective bargaining with Major League Baseball in 2021 as it prepares for the possibility of an extended lockout when the collective bargaining agreement expires Dec. 1.

According to LM-2 filings with the U.S. Department of Labor, the union amassed $415 million in U.S. Treasury securities, cash and other investments by the end of 2025, a figure that dwarfs the $171 million the union raised coming from a COVID-shortened season in 2020 and going into the previous round of CBA negotiations.

The last CBA expired in December 2021, leading to a lockdown of more than three months. Ultimately, Major League Baseball and the union agreed to a new CBA on March 10 to save the 162-game season that started after an eight-day delay.

The year-over-year increase from $283.8 million in 2024 to $283.8 million in 2025 included the MLBPA converting a large amount of cash into U.S. Treasury securities. While the union’s cash reserves fell from $144 million to $37.4 million, its investments in the Treasury – highly liquid and low risk – rose from $85.3 million to $222.1 million.

MLBPA net worth increases from $353 million to $519 million at the end of 2024; Net assets were $511.5 million.

To help speed up growth, the players have opted to allow the union to stop group licensing checks through 2024. Those funds can be delivered to the players during the lockdown.

The union’s lobbying expenses also increased drastically from $363,034 to $788,486 in 2025, with two firms on monthly retainers. Although the increase in spending is required due to the greater amount of state and federal law and regulation on a variety of issues, including sports betting and the NIL, the increase in spending is also consistent with preparations for a prolonged work stoppage that could attract Congressional attention.

Former MLBPA executive director Tony Clark, who resigned last month after an internal investigation stemming from a federal probe revealed an inappropriate relationship with his sister-in-law, will make $3.58 million in 2025. Interim executive director Bruce Meyer, previously Clark’s deputy, was paid $1.56 million.

Fanatics remained the association’s largest revenue source, increasing from $94.4 million in 2024 to $106.4 million in 2025.

Players Way, a youth baseball initiative owned by the MLBPA and one of two entities under investigation by the Eastern District of New York, is no longer operating, a union spokesperson confirmed. The company was being investigated for its use of funds after spending millions of dollars and offering only a few events.