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Report: MLB loses Coca-Cola sponsorship due to ‘budgetary concerns’

Getty Images MLB tables latest proposals to begin season, including players earning up to 75 per cent of their prorated salaries. Joshua Harris and David Blitzer reportedly in early talks to buy New York Mets.  Major League Baseball (MLB) will lose Coca-Cola as an official sponsor after the soft drinks giant failed to renew its deal due to budgetary concerns, according to the Sports Business Journal (SBJ). Having held sponsorship deals with the majority of MLB teams, Coca-Cola signed on as the official sponsor of MLB beverages in 2017, ousting rival Pepsi, in a multi-year deal. But after failing to agree on fresh terms, and with the financial uncertainty of the coronavirus pandemic increasing scrutiny on all marketing budgets, Coca-Cola now looks set to walk away at the end of this season. According to the SBJ, it is possible the carbonated soft drink category ‘will remain open at MLB this season’ due to the current state 'the overall economy and the sports economy’.

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