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| 8th April, 2009 - 5:11 pm | ESPN - Major League Baseball teams cut their payrolls by $47 million from Opening Day in 2008 to the first day of this season, according to the Associated Press.
It represents a drop of about 1.7 percent.
"Clubs were cautious all winter with regards to the economy and were concerned the economy might have an impact on club revenue," said Bob DuPuy, baseball's chief operating officer. "The spending reflected that for many clubs."
It marked the first drop since 2004, and 16 of the league's 30 teams lowered their spending.
The Yankees, who lead the majors with a $201.4 million payroll, were among the team's that reduced their figure. [READ] |
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