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Image depicts the top five highest paid MLB players of all time according to MLB.com and Fox Sports. |
Even though big-name players benefit from the massive contracts being presented to them, entire organizations struggle to stay competitive due to their financial limitations. Because of this, Major League Baseball is seeing repetitive success amongst certain teams, which is pushing fans away from enjoying the game. Predictability is one of the biggest weaknesses in the MLB. In order to ensure that Major League Baseball is able to stay competitive for the long-term, it would be logical to implement a salary cap similar to other professional sports leagues.
Due to the lack of a salary cap in the current MLB system, financially wealthy teams are able to outspend teams that do not bring in enough cashflow. For example, the New York Mets currently have a $323,099,999 payroll while the Miami Marlins have only a $67,412,619 payroll.
The large payroll gap means that teams that are bringing in more money are able to invest in big-name All-Stars, while the teams that are bringing in less money have to rely on prospects and hope that they will begin to develop to the level required to play in the MLB. Even if these prospects do end up developing to a higher level, they are often lost to trades or free-agency.
Many may argue that money does not win a World Series, but it sure does help.
Juan Soto signed a $765,000,000 contract with the New York Mets in 2024. |
Introducing a salary cap would essentially limit how much a team is allocated to spend on player salaries. It has proven to work well in the NFL, NHL, and the NBA, where salary caps are enforced and small market teams are able to contest against other organizations more often. Obviously there are always going to be teams with stronger players, better development, and better results, but a salary cap does everything that it can to ensure fairness amongst teams.
If a salary cap were enforced, the MLB would have to rely more on developing the prospects in their own farm system, and coaching their team rather than paying for players that have already been developed elsewhere. Major League Baseball needs to rely more on their own strengths as a franchise, rather than paying for strength and skill.
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The 2024 World Series featured the NY Yankees and the LA Dodgers. |
Graph depicting the payroll of each MLB franchise as of 2024. |
MLB'S TOP 10 CURRENT CONTRACTS: