Escalating Team Debt Levels Remains A Concern For Selig
MLB will spend $2.97B on 190 guaranteed player contracts for
the five-year period beginning in ’06, which tops the $2.77B “on the books this
time last year –- and that was for a six-year period,” according to a USA Today
survey cited by Hal Bodley of USA TODAY. The Yankees, whose payroll this season
is $201.2M, have “guaranteed 11 players $425.6[M] through 2010.” In the same
time span, the Red Sox are obligated to pay $177M to ten players, the Cardinals
$171.2M to six players and the Mets $171M to eight players. MLB Commissioner
Bud Selig said, “Debt of this magnitude is a matter of serious concern. ...
It’s something that I monitor very closely because certainly it can affect the
way we operate in the future.” Bodley notes the D-Rays and Pirates “have guaranteed
the smallest amounts of all teams,” $13M and $6.3M, respectively. MLB’s total
projected payroll this season is $2.3B compared with $2.197B in ’04. Industry
wide revenues in ’04 were $4.1B and are projected to be $4.5B this season (USA
TODAY, 3/24).
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