Mar 22, 2010, 2:15 PM EDT
I’ve always known that players can’t hold equity stakes in their teams due to the Basic Agreement (see paragraph 4(c) on p. 213 of this massive document), but I never knew why.
Today, however, Kevin Goldstein of Baseball Prospectus explains. Once upon a time Rogers Hornsby got a cut of the Cardinals, was traded to the Giants, and quickly found his ownership stake to be a conflict of interest. And it got worst when he went to divest, as the Cardinals tried to lowball him, leading to everyone in the National League having to chip in to buy him off. As a result of all of that, the rule was passed and has been incorporated into player contracts and/or the Basic Agreement ever since.
The only exception: players can take a stake in the team with special approval of the Commissioner. Goldstein speculates whether or a team could give a chunk of the team to a player with language built in to deal with any Hornsby-esque conflicts of interest and have it approved by Selig. He dismisses it almost immediately, however, which is probably sensible given that it’s not likely to ever happen.
The only thing I’d add is the notion of maybe offering a player a chunk of a team — or at least the option to buy a chunk of the team — that doesn’t vest until retirement. I kind of doubt that would ever happen, though, because it would require something akin to financial transparency for baseball teams and they really, really hate that.
- The Cubs assign Kris Bryant and Addison Russell to the minors, option Javier Baez as well 60
- 2015 Preview: Arizona Diamondbacks 6
- 2015 Preview: Toronto Blue Jays 67
- Mariners prospect Victor Sanchez has died 24
- 2015 Preview: Chicago White Sox 15
- Did David Ortiz admit to more than he realized with his Players’ Tribune editorial? 88
- 2015 Preview: Atlanta Braves 15
- David Ortiz: “Nobody in MLB history has been tested for PEDs more than me” 118
- Ex-Cardinals outfielder Curt Ford was assaulted in St. Louis and told to “go back to Ferguson” (122)
- David Ortiz: “Nobody in MLB history has been tested for PEDs more than me” (118)
- Rob Manfred says it would be hard to reinstate Pete Rose in a limited way (89)
- Did David Ortiz admit to more than he realized with his Players’ Tribune editorial? (88)
- The MLBPA releases a statement on Kris Bryant, mentions possible litigation (85)