Craig Edwards at FanGraphs looks into the possible losses MLB faces based on the document leaked to the Associated Press. Edward’ss conclusion:

Ultimately, owners might lose money this season, but just how much is up for debate. If the teams play games, it certainly won’t be the $4 billion figure that is being floated. And even without a postseason, playing the games and paying players prorated salaries results in more incremental revenue per game for owners than skipping the season.

FanGraphs.com

What we really need to know is how much money MLB and the teams need to pay the bills. If at the end of the day (or month or year), your revenue equals your expenses, your business can continue. The expenses are not that difficult to figure. The revenue, as some have suggested, is a lot tougher. How much does YES really contribute to the Yankees, for example. Is is all the revenue from YES, or only that which flows from Yankees games? MLBAM makes money off non-sports streaming services. Should that count toward MLB revenue when it is not generated by baseball? Maybe if MLB can make a convincing argument that the players may need to be paid less money to keep the game afloat, that will work.