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Characteristics And Success Of Long-Term Contracts In Major League Baseball, Briton A. Hagan
Characteristics And Success Of Long-Term Contracts In Major League Baseball, Briton A. Hagan
Health, Exercise, and Sports Sciences ETDs
The current labor market in MLB is extremely lucrative for both players and owners; however, the system is not without its problems. Over the past two decades, owners have become increasingly aggressive when signing elite players. Owners must offer long-term contracts in excess of $100 million to outbid other teams and secure an elite player to be the face of their franchise. Because MLB contracts are guaranteed, owners take a tremendous risk when signing players to a long-term deal. The purpose of the study was to apply a framework for what a “successful” MLB contract is and then measure all …