Found April 02, 2013 on The Giants Cove:
The economics of Major League Baseball ownership has come a long way. Nothing illustrates this better than the recent contract extensions of the Giants' catcher Buster Posey, pitcher Justin Verlander of the Tigers, and Texas Ranger's shortstop Elvis Andrus. Contract extensions on top of existing multi-year contracts in baseball has become a template for ownership. And for one very good reason-- soaring MLB team values and revenues. While extensions will inevitably be cheaper than losing yearly arbitration awards or standing in the free agent line with five other teams bidding on your own star first baseman, many owners had a fear of economic commitment. But now all franchises up and down the team value scale have an even bigger incentive to pay 2013-2015 prices for six, seven, eight or nine year contracts: they actually have the money to do it. Today, thanks to a series of MLB national media megadeals and other revenue generating investments, there are no &qu...
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