Why Do Baseball Players Make So Much? - CBS Sunday Morning - CBS News - 2 views
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Baseball plays out from one end of the country to the other — from one end of the lifespan to the other. It’s a game, a sport and a pastime.
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it is a $6 billion a year business where the extraordinary skill and talent of the best reaps once unimaginable rewards. The minimum wage in major league baseball is almost $400,000 more than half the players make $1 million or more. New York Yankees’ third baseman Alex Rodriguez takes in $25 million — some 500 times what a teacher or a cop or a paramedic makes.
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And it is sort of disheartening to see a ballplayers make the kind of salary they do when a teacher doesn’t make what they really deserve.”
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He says his staff of 40 people crunches numbers with a multimillion dollar database that teams just don't have.
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When Oakland A’s pitching ace Barry Sito went across the bay to the San Francisco giants for $126 million; when Red Sox idol Johnny Damon left for the hated New York Yankees for $52 million; when the Red Sox signed Japanese pitching star Daisuke Matsuzaka for $52 million — those were all Scott Boras deals.
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But for most of Major League Baseball’s history, players were paid a small fraction of their worth. They were indentured servants, bound for the length of their careers to the teams that signed them.
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My average salary for eight years in the big leagues came out to $19,500," said former Yankee pitcher Jim Bouton. "We weren’t making enough to pay our bills year round.
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But in the mid-1970s, decisions by courts and labor arbitrators freed ballplayers to bargain for their value in the marketplace.
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His $80 million payroll is less than half of the Yankees,’ but his team is almost always in the hunt.
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But if you want another side to the story, you need to leave baseball’s Fort Knox, and head west 3,000 miles, and $120 million a year away to Oakland, Calif, where a baseball executive has become something of a legend by turning his cash-starved team into a consistent contender.”