How much is enough? When will the Los Angeles Dodgers decide that their revenue streams produce enough free cash flow to cover their enormous payroll obligations? These questions, of course, are rhetorical. Guggenheim Baseball Management, which is run by Mark Walter, CEO of Guggenheim Partners, and counts Stan Kasten, Todd Boehly, Peter Guber, and Magic Johnson as partners, can simply never have enough money. And that is, quite obviously, what drove the team to license naming rights to the field at Dodger Stadium. As of Opening Day 2026, the 64-year-old stadium (the third oldest in the game), now has a new partner: Uniqlo. The team unveiled Uniqlo Field at Dodger Stadium, with a ceremony and all sorts of signage, on the night before Opening Day.
Rickey Henderson is all smiles as he stands on Rickey Henderson Field in Oakland. (Photo by Thearon W. Henderson/Getty Images)
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For purists, it was a sacrilege, giving up the exclusive nomenclature of the ballpark in Chavez Ravine since the team moved there in 1962. And they did so on purely commercial terms, entering into an agreement with a Japanese clothing company as opposed to say, after a former player. The Athletics, before decamping for Sacramento while they wait to ultimately land in Las Vegas, at least named their field in Oakland after local legend and former player Rickey Henderson. The Dodgers, however, just took the cold, hard cash.
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Last week, Bill Shaikin of the Los Angeles Times reported that the five-year deal is worth “more than $125 million.” He glibly stated that the deal covers Freddie Freeman’s contract. And there it is. Shaikin pointed out that the deal is on par with what was paid for Crypto.com Arena, Intuit Dome, and SoFi Stadium, but without having to give up the name of the actual venue. By naming-rights standards, it seems as if the Dodgers did well.
Oi Ocha unsweetened green tea is just one of many products endorsed by Shohei Ohtani in Japan. (Photo by Erica Denhoff/Icon Sportswire via Getty Images)
Icon Sportswire via Getty Images
After signing Shohei Ohtani in 2024, the team quickly added Yoshinobu Yamamoto, and then Roki Sasaki in 2025, thus making them a must-watch team in Japan. An average of 9.7 million viewers in Japan watched the 2025 World Series. And you cannot walk down the street in Tokyo without seeing Ohtani – in and out of Dodger gear – endorsing some product.
But all of this begs the question: Do the Dodgers need the money? And, if so, do they need the money that badly that they are willing to sully themselves by giving up the purity and simplicity of “Dodger Stadium”? Well, maybe.
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According to Forbes, the team’s projected value in 2026 is $7.8 billion, on $850 million in revenue, but with operating income of negative $20 million. By comparison, in 2025 the valuation was $6.9 billion on $752 million in revenue, but with operating income of positive $21 million. Part of that could be that player expenses jumped from $349 million in 2025 to a projected $402 million in 2026 (in 2024, this number was just $228 million).
There is no doubt that the Dodgers intelligently allocate their resources. They have one of the best farm systems in the sport, have a massive front office filled with baseball lifers, scouts, and quants, and treat their players as well if not better than any other team. Because of their revenue streams, they are able to take chances on players others would not. For instance, they didn’t bat an eye giving Michael Conforto a one-year, $17 million contract, or four years and $72 million to Tanner Scott, or $60 million per year to Kyle Tucker. Some deals don’t work out, and Los Angeles has the capital reserves to weather their mistakes.
Dodgers president Stan Kasten told the Los Angeles Times: “We need a lot of revenue to put out the product that we do. That’s not a secret. And we’re proud of everyone who helps us do it: all of our fans, all of our media partners, and all of our sponsor partners. They are all important. It is how this all comes together.”
So, maybe it makes sense for “The Bums” to take in excess of $25 million per year from a clothing company who will advertise the team in the United States and Japan; a company which is 20% owned by the richest man in Japan; and a company associated with the likes of tennis legend Roger Federer (who ditched Nike to sign with Uniqlo). Maybe it makes sense to diversify their revenue portfolio at this moment in time – which there is no guarantee will last – when the world is watching and every day they field the best team in baseball. Maybe it makes sense to strike while the iron is hot, take nine figures in “field money,” and reassess in five years when their window for winning is either closed, closing, or remains open because they continue to draw 50,000 fans per night, continue to go far enough in the playoffs that additional monies come flowing in, continue to sell exorbitantly expensive soda cups, and continue to outspend the rest of the league. Or, maybe they foresee a lockout coming if the owners and players cannot hammer out a new CBA, and they want to make sure that there is at least some source of revenue if/when there are no ticket and beer sales because there are no games.
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The bottom line is that the Los Angeles Dodgers have earned the benefit of the doubt. They have won back-to-back World Series titles, they lead the league in attendance year after year after year, they lead the league in payroll year after year after year. They have made themselves a destination for free agents not just because they pay more (they usually do), but because they do things like have a separate plane just for the players* so those guys can hit the road long before the uniforms are washed the equipment is loaded, and they make special accommodations for players’ family and friends. So, if they want put a sign above the scoreboard announcing Uniqlo Field at Dodger Stadium, and want to emblazon the same below the Vin Scully Press Box, who are we, as fans, to quibble? As a former Los Angeles sports team owner (who up and took his team elsewhere when the money was better) once said: “Just win baby!”
Uniqlo’s name is prominently displayed at Dodger Stadium. (Photo by Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty Images)
MediaNews Group via Getty Images
*It costs the Dodgers approximately $7 million year to have this additional jet available for the players. For the cost of Jonathan India or Trevor Williams, each team could do the same – they simply choose not to. Does that make the Dodgers smarter or better? Is that how they are ruining the game?
This article was originally published on Forbes.com