Tuesday, June 17, 2014
Here’s a great look at the Singleton extension.
If anything, perhaps, the Singleton extension really marks the latest instance of a general trend away from formulaic contractual models. His deal opens new doors, especially, for players who did not have the opportunity to capture downside protection at their point of entry into the professional ranks, at which time they immediately become subject to the limitations of the reserve clause (as expressed in the collectively bargained Basic Agreement). There are potentially other, yet more creative options as well, such as private insurance (assuming it could be had by a prospect at a reasonable rate) or even public investment. But all players and teams will not pursue such a path; indeed, several of Singleton’s teammates (and others) have declined the opportunity, while some (if not most) clubs will remain largely uninterested in making such early commitments.
History teaches us that, even at his relatively exalted place in the eyes of the game as a top-100 prospect, Singleton was not assured of cashing in on his talent until he decided to forego the chance of becoming the next Fielder. That he chose to do so should have relatively minimal impact on those other players who have the means and desire to bear the inherent risk of transitioning from top prospect to established major league player.
Thursday, June 05, 2014
The magazine’s sports blog argues that human-capital contracts are the solution to the imbalance in bargaining leverage demonstrated by Jon Singleton’s team-friendly deal.
If players like Mr Singleton are willing to offer such generous deals to their employers to lock in a few million, presumably they would give outside investors similarly advantageous terms. With today’s low interest rates, a well-heeled speculator could surely have achieved an expected return far above the market average by giving Mr Singleton a few million dollars, even accounting for the high risk premium associated with the future cash flows of a player with no experience in MLB. Investors could do even better by buying a portfolio of young players, balancing out their individual risks just as insurers do while still pocketing the same profit. The lack of correlation between baseball players’ performances and the gyrations of financial markets is a further selling point.
Wednesday, February 26, 2014
You would think major leaguers would be a far better option than a lawsuit against the owner.
In my first year I was paid $800 dollars a month. After housing, taxes, dues and insurance were taken out, that was down to $360. My minor league brothers and I were oblivious because we were playing the game and chasing our dream, all suffering from the delusion that we were only weeks from the bigs and escaping the bills, and mortgages, and mouth feeding struggles we still had. But even then, as naive as we were, it was comical. We’d look at our checks and have sad, satirical chuckles, punctuated with the now tongue-in-cheek phrase, “living the dream!” Over time, however, it became much less funny.
Posted: February 26, 2014 at 09:44 PM | 132 comment(s)
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