MLBPA increases war chest to $415 million ahead of potential lockout

The Major League Baseball Players Association carries a war chest twice as large as it did at the same point prior to collective bargaining with Major League Baseball in 2021 as it prepares for the possibility of an extended lockout when the collective bargaining agreement expires on December 1.

The union had accumulated $415 million in U.S. Treasuries, cash and other investments by the end of 2025, according to its LM-2 filing with the U.S. Labor Department, a figure that dwarfs the $171 million the union had after a coronavirus-shortened season in 2020 and heading into the previous round of CBA negotiations.

The last CBA expired in December 2021, triggering a shutdown that lasted more than three months. Ultimately, Major League Baseball and the union approved the new CBA on March 10 to save a 162-game season with an eight-day start delay.

The year-over-year hike in 2025, from $283.8 million in 2024, included the MLBPA shifting a significant 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 Treasury bonds – highly liquid and low-risk – jumped from $85.3 million to $222.1 million.

MLBPA total assets rose to $519 million from $353 million at the end of 2024; Net assets amounted to $511.5 million.

To help stimulate growth, players have opted to allow the union to withhold collective licensing checks since 2024. This money can be turned over to players during the lockout.

The union’s lobbying spending also increased significantly in 2025, from $363,034 to $788,486, with two firms on monthly bonuses. Although the greater volume of federal and state legislation and regulations on a variety of issues, including sports betting and none, has necessitated increased expenditures, the increased spending also aligns with a readiness for an extended shutdown that could draw the attention of Congress.

Former MLBPA CEO Tony Clark, who resigned last month following an internal investigation stemming from a federal probe that uncovered an inappropriate relationship with his sister-in-law, will receive $3.58 million in 2025. Interim CEO Bruce Meyer, who was Clark’s former deputy, will receive $1.56 million.

Fanatics remained the federation’s largest source of revenue, rising from $94.4 million in 2024 to $106.4 million in 2025.

A union spokesperson confirmed that 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. The company was investigated for its use of funds after spending millions of dollars but only provided a handful of incidents.