DuPuy Discusses Impact Of Economy On MLB, Free-Agent Market
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DuPuy Discusses Impact Of Economy On
MLB During Appearance On Fox Business |
MLB President & COO Bob DuPuy last night appeared on Fox Business and discussed the impact of the economy on MLB. Fox Business' David Asman asked, "One of the biggest expenses has to be the cost of the players. Is there any way you can manage that, any way to play without ruffling the feathers of the players union?" DuPuy: "We've seen a little bit of that this past winter. The owners were concerned about what was going to happen with the economy and the free-agent market." He added the off-season market was "tighter than it had been in a number of years." DuPuy said all MLB teams "are in excellent shape" financially, but Asman asked if the league would "rally together, pull resources in a certain way, and prevent" a team from going under if it came to that point. DuPuy: "What we sell is the integrity of the competition on the field and we're committed to that. If a team got in trouble, as has happened in the past, we would step in and make sure that the game went on." Meanwhile, DuPuy said MLB has "been in touch" with Rangers Owner Tom Hicks regarding creditors declaring Hicks Sports Group in default, and he added, "The team itself is on solid footing." Asman: "Is it fair to say those teams that didn't borrow a lot during the past five years are in the best shape?" DuPuy: "We have debt requirements and debt limits and so all 30 of our teams meet those requirements with regard to what we call our Debt Service Rule. You've got to earn a certain amount of EBITDA to be able to have a certain amount of debt or else you have to put in equity. We think we're in pretty good shape to withstand that" ("America's Nightly Scoreboard," Fox Business, 4/14).
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