Texas Puts Fans Back in Stadiums: Top Stories in Sports and Business News — June 8

Author:
Publish date:
Video Duration:
5:04

Here's what's driving sports and business news on Monday, June 8.

What Will MLB Look Like?

Major League Baseball sent a new proposal to the MLB Players Association that calls for a 76-game season, which is a decrease of 34 games from the

MLBPA’s proposal of 110 games, which was sent just last week.

According to ESPN’s Karl Ravech, the MLB owners also requested players get paid up to 75% of their prorated salaries and proposed a $200 million postseason pool for players on teams that make the playoffs.

The owners did meet one of the MLBPA’s requests by extending the regular season to October 31. Originally, the owners wanted the season to conclude on September 27.

An unnamed source speaking on behalf of the MLBPA called the owners’ proposal a “step backwards.”

The NBA and NHL both have plans in place to resume their seasons.

Watch more: Report: MLB Proposes 76-Game Schedule With 75% Prorated Salaries

A Coronavirus Update

There are over seven million cases of the coronavirus worldwide, with 403,000 deaths. The U.S. is inching towards two million cases—the total case count currently stands at 1.95 million across the states. The U.S. has over 110,000 deaths.

Brazil is quickly rising in its case count; the country now has over 690,000 cases, with over 36,000 deaths.

But it’s not all bad news. New York City has entered Phase 1 of its reopening process after meeting seven health-related metrics. In Phase 1, construction jobs, manufacturing sites, and select retail stores—with curbside or in-store pickup—are allowed to operate. Retail stores that are reopening include clothing stores, florists, sporting goods, bookstores and more.

Approximately 400,000 people are returning to work on Monday, June 8, the first day of reopening. To ease the transition, alternate side parking regulations are suspended through June 21.

Watch more: What Phase 1 NYC Reopening Looks Like

A Look At Texas

Texas Governor Greg Abbott lifted stadium and arena capacity to 50% on June 4, according to the Dallas Morning News. That’s a 25% jump in permitted fan attendance in just seven days. But the PGA Tour and IndyCar both have events in Texas this week and neither will permit fans to enter.

There’s still no word on the NFL’s plan to allow fans to attend games. Two weeks ago Sports Illustrated reported that Dallas Cowboys owner Jerry Jones stands to

lose the most money among all NFL owners if fans are not allowed to attend games. Forbes reported the Cowboys’ estimated in-stadium revenue from 2018 was $621 million, around 65% of the team’s total revenue.

It will be interesting to see what happens over the next few months. Governors may approve a cap of fan attendance like Abbot has in Texas, but the league’s governing bodies will be the ultimate decision-makers in whether or not they allow fans to attend games or events.

Given that, here are the coronavirus stats in Texas. The state set a single-day high of positive tests, with over 1,700 new cases being reported last Wednesday. The COVID-19 tracking project, which is housed by The Atlantic, lists Texas as a state to watch. According to a chart from the project, which was posted on Twitter, the number of positive cases in Texas has been increasing since early May.

Watch More of the Latest Videos from TheStreet and Jim Cramer