THE LEAD

Nationals and Baltimore Orioles Reach Resolution on MASN Dispute

Major League Baseball announced in a press release that the Nationals and Orioles resolved the MASN dispute this morning. According to the press release:

David M. Rubenstein, Orioles Owner and Team Control Person, released a comment about the announcement:

*The Nats Report did reach out to the Washington Nationals, and as of this publication, we have yet to hear back from the team.

 ANYALSIS  

Nationals and Baltimore Orioles Reach Resolution on MASN Dispute & What Does It All Mean?

The long nightmare is finally over. No, I’m not talking about anything related to politics; I’m referring to the disastrous MASN deal that has had a stranglehold on the Washington Nationals for the past 20 years.

Yes, Nationals fans, it’s been two decades since the team was forced to accept a regional television deal unlike any other in Major League Baseball. What made matters worse in recent years was that whenever the Nationals sought to collect the money they were owed, they had to sue and drag the owners of MASN—aka the Baltimore Orioles—into court, hoping to secure funds they were legally entitled to receive. Well, that’s all set to end next year. Major League Baseball announced this morning that the Nationals and Orioles have resolved the MASN dispute.

While many have understandably focused on the great news of the Nationals and Orioles agreeing to a one-year deal, what’s truly intriguing—and yet to be determined—is how much money the Nationals will recover for past years of lost revenue. According to the press release, part of the agreement stipulates that all litigation will be dismissed (presumably by the Nationals).

Last year, a court decision awarded the Nationals $320.5 million for the 2022–2026 seasons, though a hearing on that decision had been scheduled for this month—now rendered moot. Separately, a 2023 ruling determined that MASN owed the Nationals $304.1 million for the 2017–2021 period, a decision upheld by the New York Supreme Court. However, whether the Nationals have received that amount from MASN remains unclear. Chelsea Janes from the Washington Post just reported that part of the deal, MASN will “be paid most of the money the MLB revue share committee awarded them recenty which is $320 million.”

The big headline here is that, starting in 2026, the Nationals will gain control over their broadcasting rights, allowing them to shop around for a true regional partner and secure annual revenue from airing their games. End of story.

However, this is where things are going to get fun and interesting.

This newfound annual cash flow will open up numerous possibilities, including stadium improvements if needed and, most crucially, bolstering a roster eager to add talented pieces for the upcoming season. It might even allow the team to lock down some of their bright young stars. (We’re talking to you, James Wood and Dylan Crews!)

Another benefit this could bring is the potential for fans to stream Nationals games independently, without needing a cable subscription—the current requirement under MASN’s setup.

What regional broadcasting options might the Nationals explore? Ted Leonsis and Monumental Sports Network stand out as a natural and appealing choice for a future partnership—especially considering Leonsis once bid to buy the Nationals when the team was on the market. With the MASN dispute now settled, could the current Nationals ownership be more open to selling the team? Many suspect the MASN issue was a significant obstacle for Mark Lerner in accurately evaluating the team’s value, potentially paving the way for a sale.

A less likely option is that the Nationals create their exclusive network, similar to the YES Network in New York. Still, I believe Monumental Sports will emerge as the team’s most logical and probable regional partner starting in 2026.

Finally, what’s next for MASN? Many speculate that the substantial debt owed to the Nationals could effectively bankrupt the network, leaving the future of its employees and its broadcasting operations uncertain.

WASHINGTON NATIONALS NEWS
Nationals Eye Lucrative Patch and Stadium Deals for 2025

If one major news story wasn’t enough to dominate headlines today, a second bombshell dropped just minutes after the MASN announcement. Forbes reported that the Washington Nationals are aggressively pursuing naming rights for their stadium and a lucrative jersey patch sponsorship deal for their uniforms.

Major League Baseball has fully embraced the era of corporate partnerships. Of the league’s 30 teams, 21 have secured stadium naming rights agreements, while 23 now feature jersey patch sponsorships—those prominent brand logos adorning uniform sleeves, a trend that has taken root over the past two seasons. The Washington Nationals, however, have lagged behind in both categories. That’s poised to change.

According to Forbes:

The Nationals are betting big on these deals to bolster their financial standing.

Should the team secure the sponsorships it’s aiming for, the resulting cash infusion could dramatically enhance its bottom line. Forbes estimates that such deals could potentially double the $27 million the Nationals earned from local advertising and sponsorships in 2023. In Forbes’ 2023 ranking of MLB’s most valuable franchises, the Nationals landed at 16th with a valuation of $2 billion, driven by total revenue of $355 million.

The Nationals are approaching these two sponsorship opportunities as distinct yet complementary efforts, with Excel Sports Management steering both initiatives. Although the processes are separate, the team is hopeful about finalizing agreements in 2025—possibly as early as midseason. Forbes projects that these deals could generate over $20 million annually, a substantial windfall for a franchise eager to strengthen its financial footing in a league where sponsorship revenue is increasingly vital.

Anaylsis

If the MASN news wasn’t enough to process, the Nationals’ latest move adds another layer of intrigue. This dual sponsorship push could deliver a significant financial lifeline, regardless of how the regional broadcasting rights shake out. For context, top-tier teams like the New York Yankees and Toronto Blue Jays reportedly rake in upwards of $20 million annually from their jersey patch deals alone. However, Forbes suggests that a more typical jersey patch sponsorship across the league hovers around $7 million per year. Stadium naming rights, meanwhile, tend to yield slightly smaller returns—16 of MLB’s 21 existing ballpark deals paid out less than $5 million in 2023, per Forbes estimates. Those lower figures, though, often reflect older agreements signed before the market fully matured.

The Nationals’ timing could work in their favor. With corporate demand for sports sponsorships surging, 2025 might be the perfect window to secure premium rates, especially in a competitive market like Washington, D.C. Doubling their 2023 local sponsorship haul of $27 million isn’t out of the question if they land high-value partners. This influx could elevate the team’s ability to invest in talent, infrastructure, or fan experience—key factors in climbing the MLB value rankings. For a mid-tier franchise like the Nationals, this isn’t just about keeping pace; it’s about seizing a chance to redefine their financial trajectory in an increasingly commercialized sport.