McCLEAN, Va.—As the 2022 Major League Baseball (MLB) season begins, Capital One has signed a multiyear deal with MLB that's reportedly valued at $125 million and includes sponsorship opportunities and cardholder perks.
According to the company, Capital One rewards cardholders can redeem their rewards for MLB tickets through the newly launched Capital One Entertainment ticketing platform. They can also get exclusive tickets to MLB events like the World Series (which Capital One will sponsor) and will soon get discounts at MLB Shop and MLB.TV.
Capital One is taking over MLB’s bank promotion rights from Bank of America, which partnered with the professional baseball in 2004. Under the old deal, Bank of America offered the MLB Cash Rewards Mastercard. BofA reportedly informed MLB Cash Rewards customers in January that their cards will transition to the Bank of America Unlimited and Customized Cash Rewards credit card in mid-March, eMarketer said.