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Monday, July 04, 2016

OTP 2016 July 4: Bustos withdraws support for baseball bill

U.S. Rep. Cheri Bustos, D-Ill., has withdrawn her support for a bill that would have exempted minor league baseball players from the minimum wage standards in the Fair Labor Standards Act.

The bill drew nationwide attention, as it was introduced in the midst of a legal fight over whether to pay minor leaguers the minimum wage.

Bitter Mouse, Space Tyrant Posted: July 04, 2016 at 04:08 PM | 1904 comment(s)
  Beats: minor leaguers, politics, salaries

Thursday, May 26, 2016

Uncompetitive Minor League Wages Might Be Deterring Talent

For simplicity’s sake, let’s assume that there are two types of amateur prospects: You have the elite ones who ultimately get big signing bonuses. Then you have the non-elite ones who aren’t good enough to get big signing bonuses. If you are in the first group, you’re certainly going to go pro regardless of your socioeconomic status. You get a big signing bonus and get to play baseball for a living. That’s a win-win.

Now let’s say you’re a player in this second group. You’re good enough to go pro, but not good enough to command more than a few thousand in signing bonus. Let’s split this group into sub-groups.

If you’re rich, you probably go pro since the money isn’t a huge factor for you. You probably have some money in savings and/or a family willing to support you. But, since you were a fringy prospect to begin with, you probably don’t make it to the majors. This drives down the overall success rate for the rich.

If you’re poor, the decision is a tougher one. While the idea of playing baseball for a living sounds great, you also need to put food on the table. You may have very little savings, and your family may not have the means to support you. As a result, an outsized share of the poor group are the guys who got big bonuses (who are also likely to play in the majors). In other words, the low wages are basically weeding out the fringy low-income prospects, which drives up the major league success rate for the poor.

 

RoyalsRetro (AG#1F) Posted: May 26, 2016 at 02:13 PM | 66 comment(s)
  Beats: minor league, salaries

Friday, March 04, 2016

Kris Bryant, Cubs agree to $652,000 contract

The Chicago Cubs and third baseman Kris Bryant, the 2015 National League Rookie of the Year, agreed to a one-year, $652,000 contract.

Bryant will receive a raise of more than $145,000 - a substantial amount considering he has less than one full year of major league service time. Bryant also will receive $111,000 more than Pittsburgh Pirates ace Gerrit Cole, who will earn $541,000 despite more than two years of service time.

This almost most likely doesn’t help the Cubs sign him in 6 years, or to an extension before then, but it’s definitely a gesture, with relative chump change, that surely helps the relationship even if last year’s promotegate was overblown.


 

 

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