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Thread: Money - Money - Money

  1. #1
    breath westofyou's Avatar
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    Money - Money - Money

    As the season gets closer the stories of what might happen begin to eclipse the stories from last season, and other incidents that occurred over the long winter. Each season brings with it a new serious of questions, and a few of the same old ones

    Questions like, How much is that guy getting?

    And the follow-up… You got to be kidding me?

    Pretty standard in the world of baseball, the type that occur every season, every year and again the next

    It's always been that way, the numbers just get more zero's after them these days, example: let’s start off with the top 10 salaries in Major League Baseball at the end of last season.

    Code:
    Rodriguez  	$ 21,680,727
    Jeter, Derek 	$ 20,600,000
    Giambi, Jason 	$ 20,428,571
    Bagwell, Jeff 	$ 19,369,019
    Bonds, Barry 	$ 19,331,470
    Mussina,	$ 19,000,000
    Ramirez, 	$ 18,279,238
    Helton, Todd 	$ 16,600,000
    Pettitte, Andy 	$ 16,428,416
    Ordonez, 	$ 16,200,000
    Forty percent Yankees, which as we’ll see later is not that surprising, add on top of that Alphonso Soriano and Barry Zito’s 18 million dollars a year contracts inked this winter and you can see that there are quite a few players being paid 8 figure salaries.

    However 34 years ago it was a different story in the game, six figure salaries were the talk of the off season and some were convinced it was the downfall of the game, others were forgetting that the 6 figure salary had already been around for more then 20 years.

    1949

    Post war prosperity was something felt by most of the sporting world, it’s in that ear that we find the creation of the stable pro basketball circuit, the stronger NFL who was expanding west before stodgy old baseball. In Cleveland the talk that Bob Feller of the Indians would have to take a pay cut, he reportedly made 82 K in 1948, most of it tied to attendance and performance clauses. Also vying for a contract that reflected the good times as well as a ling history of giving was Joe DiMaggio, who was looking for a multi year contract, a feat that in itself would have been odd in that day and age, however rumor had it Joe was also looking to break the $100,000 level. This was big news in a slow off season, lists of all of Joe D’s salaries were listed up to date, starting with his $7,500 in 1936 (.323/.352/.576) to his 1948 salary of $80,000 (.346/.459/.596) the total of his career at that point was $465,250, 35 K less then Jacob Cruz got to bat 128 times for the Reds in 2005. Granted the dollar was different then, a wage of $100,000 had the buying power of $818,867.92 in today’s world.

    Or about what the Reds paid Chris Hammond last year.

    Whoops.

    Anyway back to 1949, Joe didn’t get his two year contract and he didn’t get his 100 K either, he did get above 90 K that year eclipsing the Babes 80 K that was the previous high that Joe had shared in 1948. Instead up the road in Boston the Reds Sox signed potential hold out for an undisclosed amount.

    Which we learned later on was the first contract to exceed $100,000 in baseball history, we also learned that he planned on retiring and never becoming a manager.


    Whoops again.

    Ted got his 100 K and that was for awhile the magic number in the game, and it was the domain of the power hitter, still 16 years later the highest paid player in the game was Willie Mays and he was only getting thirty thousand more then Ted was in 1949.

    In 1966 the worth of that $130,00 a year was $782,162.66 in today’s dollars, so in essence Willie made less then Ted did 17 years earlier.

    1973

    The salary issue was beginning to turn, just in that off season salary arbitration became a reality as did the 10-5 rule, this was enough to make older owners like Calvin Griffith sputter, from Chicago came the quote of the off season from Cubs owner Phillip Wrigley,

    “Were going to have to quit spending money like drunken sailors”
    The drunken sailor brigade was worried about the spiraling salaries the game was producing and of the 753 players who at least came to bat once in 1972 this was the number of them that made over $100,000 a year.

    Twenty Eight

    Or about 0.37% of the players in the league:

    Top Man? - Dick Allen $250K then Hank Aaron at $200K, Mays, Carleton and Yaz at 165K, Gibson 160K, Frank Robinson 155K. At 150k we see Joe Torre and Billy Williams, Juan Marichal at 140K, Fergy Jenkins, Killebrew and Willie McCovey made 125 K that year and Tom Seaver 120K. At 110 K we see Johnny Bench and Pete Rose of the Reds along with Brooks Robinson, Lou Brock, Rusty Staub and Ron Santo. The 100K club was Bobby Murcer, Gaylord Perry, Luis Aparicio, Dave McNally, Mickey Lolich, Al Kaline, Claude Osteen and Willie Davis, who was getting paid $100,000.51 that year, with the 51 representing his prediction that he would have 51 steals and 51 home runs in 1973, he had 16 and 17 and was traded after the season ended.

    With the introduction of salary arbitration we find the dollars going out to the players increasing every year, and it was in 1979 that we see the first $1,000,000 salary when the Astros signed Texas native Nolan Ryan to the first million dollar contract.

    Two years later the Yankees inked Dave Winfield to the first 2 million dollar a year contract, to clear space for him on the roster they dropped Willie McGee off their 40 man roster, the Cardinals picked him up and went to the World Series that year. Despite Phil Wrigley’s worries the game is still going on and the from the looks of last winter the drunkest sailor in all of baseball was Cubs GM Jim Hendry.

    Go figure.

    Here are a few of the salary winners since then

    Code:
    1979   $1,000,000  Nolan Ryan         Houston Astros
    1981   $2,000,000  Dave Winfield      New York Yankees
    1985   $2,130,300  Mike Schmidt       Philadelphia Phillies
    1986   $2,800,000  George Foster      New York Mets
    1990   $3,000,000  Rickey Henderson   Oakland Athletics
    1991   $4,700,000  José Canseco       Oakland Athletics
    1992   $5,800,000  Bobby Bonilla      New York Mets
    1993   $5,975,000* Ryne Sandberg      Chicago Cubs
    1995   $9,237,500  Cecil Fielder      Detroit Tigers
    1997  $10,000,000  Albert Belle       Chicago White Sox
    1998  $14,936,667  Gary Sheffield     Florida Marlins
    2000  $15,714,286  Kevin Brown        Los Angeles Dodgers
    2001  $22,000,000  Alex Rodriguez     Texas Rangers
    2005  $26,000,000  Alex Rodriguez     New York Yankees

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  3. #2
    Redsmetz redsmetz's Avatar
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    Re: Money - Money - Money

    The reality is that with the advent of free agency, salary arbitration and 5/10 rights, salaries began to touch true market rates. It shows how much of a brake the reserve system was on players and the perpetual hold owners had on their players (both minor and major league) during their prime.

    Salaries seem crazy, but over the last 30 years, they've moved more towards the true market value of entertainers in other industries. In many ways, the owners brought this on themselves. They resisted free agency for so long, they swallowed other bitter pills when the reserve clause died.

  4. #3
    Member GullyFoyle's Avatar
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    Re: Money - Money - Money

    Quote Originally Posted by redsmetz View Post
    The reality is that with the advent of free agency, salary arbitration and 5/10 rights, salaries began to touch true market rates. It shows how much of a brake the reserve system was on players and the perpetual hold owners had on their players (both minor and major league) during their prime.
    But how do you really determine true market value? Do you build a stadium of only luxury boxes, sell them to corporations, maximize profit and then battle for players? Without direct competition (multiple franchises in a single area) there is no true market. Any given team has very little in competition and can choose to spend as little or as much as they want with little voice from its consumers. I'm all for free agency but it is not a "free" market in many ways.

  5. #4
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    Re: Money - Money - Money

    Throughout my lifetime, salaries have gone up or stagnated with MLB revenues. (I was born post-Curt Flood.)

    When new TV contracts were signed, salaries went up. When new stadiums were constructed, salaries went up. When the XM radio deal was signed, the salaries went up. When there was a lull in revenue streams ~2003-2005, salaries flattened out.

    As I see it, the only real options for MLB to increase revenue in the near future are:

    *Improving efforts to market MLB in the inner cities of the US
    *Selling marketing rights internationally. I think the East Asian markets are intriguing, but I don't see much revenue coming from Europe, Africa, or South America.

    At some point, MLB revenue streams will flatten out or dry up, and the players will feel it.

  6. #5
    Big Red Machine RedsBaron's Avatar
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    Re: Money - Money - Money

    I can remember a cover article in Sport magazine around 1969-70 or so entitled who would be the first player to make $200,000 a year, with Bench and Seaver being the popular picks. Someone confidently predicted that nobody making as much as $100,000 a year then would ever make $200,000 a season. At the time Rose was already at the $100,000 threshold, and he later made as much as $800,000 or so a season when he first went to the Phillies.
    "Hey...Dad. Wanna Have A Catch?" Kevin Costner in "Field Of Dreams."

  7. #6
    Greatness In The Making RedLegSuperStar's Avatar
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    Re: Money - Money - Money

    Not to mention Carlos Beltran.. I believe his payout is up there in the high teens.

    I'll sign for $300,000 and be happy because I'd be doing something I always wanted to do


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