Baseball Average Salaries hit Record - The Coming Labor Crisis
The average salary of a Major League Baseball (MLB) player has hit $2.6 million dollars this year. To put this in perspective the median average household income of $43,527. I am not one to disparage someone's ability to make a living, so let's look at the repercussions of this.
We all know baseball doesn't have a salary cap, which is very surprising is this day and age. The current labor agreement runs out in 2006 and baseball is in big trouble.
In 2005 the Yankees have a total salary expenditure of $205.9 million. Contrast this to Tampa Bay at $29.9 million or Cleveland at $41.8 million. This means that the Yankees spend almost ten times the amount of the lowest team.
The average NBA player makes $4.9 million, the average NHL player makes $1.83 million and the average NFL player makes $1.33 million.