NEW YORK (AP) – Major League Baseball has agreed to a new five-year deal with StubHub as its secondary ticket market.

The original contract started in 2007 and expired after last season. Financial terms of the agreement announced Monday were not disclosed.

MLB Advanced Media President and CEO Bob Bowman says “this renewal reflects its successes in an ever-evolving space.”

StubHub is the world’s largest ticket marketplace. It allows fans to buy and sell tickets to events at market-rate prices.

StubHub President Chris Tsakalakis says the company plans to use new technology to improve consumers’ experiences, especially on mobile devices.

StubHub spokesman Glenn Lehrman says the New York Yankees, Los Angeles Angels and Chicago Cubs have opted out of the deal.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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