Feb 10, 2014, 11:02 AM EST
Baseball is a business just like any other. And just like many other businesses — millions of them, in fact — baseball teams feel like the credit card companies hold them hostage by imposing fees every time a customer swipes their card. The Twins feel like Visa and Mastercard have gone too far in this regard:
The Minnesota Twins hit Visa Inc. and MasterCard Inc. with an antitrust suit in New York federal court Friday accusing the credit card companies of monopolizing the market by fixing swipe fees, less than two months after a landmark $7.25 billion settlement over similar claims.
The new suit, filed by Minnesota Twins LLC and a group of Minnesota retailers, alleges that the credit card giants colluded with banks that carried their credit cards to keep swipe fees high and to keep information about those fees from consumers. Visa and MasterCard also prevented retailers from incentivizing customers to use cards with lower fees, according to the complaint.
This sort of arrangement was recently the subject of one of the largest class action settlements in history. Now baseball teams are getting in on it too.
If they’re not successful, look for hastily-created “cash only” signs written in magic marker on torn cardboard at a ticket window near you.
- Yasmany Tomas signs a six-year, $68.5 million deal with the Diamondbacks 82
- No, the Red Sox signing Pablo and Hanley is not proof that baseball needs a salary cap 160
- Red Sox announce four-year, $88 million deal with Hanley Ramirez, DFA Juan Francisco 35
- The Cubs have offered Jon Lester “north of $135 million” 68
- Pablo Sandoval’s deal: five years, $98 million plus an option 43
- Kyle Seager, Mariners close to $100 million extension 26
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot 286
- So what would the Red Sox look like with Hanley Ramirez and Pablo Sandoval? 49
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot (286)
- No, the Red Sox signing Pablo and Hanley is not proof that baseball needs a salary cap (161)
- More Hall of Fame ballots like Adam Rubin’s please (138)
- Report: Pablo Sandoval chose the Red Sox over the Giants because he felt disrespected (136)
- UPDATE: The Pablo Sandoval-Red Sox deal is done, pending a physical (133)