THE PAST decade has been a resounding success for Major League Baseball’s (MLB) efforts to promote competitive balance. Back in 2000, when the New York Yankees, the sport’s richest team, were en route to winning their fourth championship in five years, MLB hired a “blue-ribbon panel” to propose reforms that would help clubs in smaller markets to contend for titles. Since then, the sport has added or fine-tuned a luxury tax on high payrolls, a sharing scheme for teams’ locally generated revenues, limits on payments to young players when they first enter the MLB system and an online streaming-video service whose profits are...Continue reading
The rich get richer as a home-run champion moves to New York