MLBPA doubles investments to $160M ahead of bargaining
NEW YORK (AP) — The Major League Baseball Players Association more than doubled its liquid investments over two years as the sport heads toward collective bargaining that could lead to a spring training lockout in 2022.
The union had $159.5 million in cash, U.S. Treasury securities and investments on Dec. 31, according to a financial disclosure form filed Tuesday with the U.S. Department of Labor. That was up from $102.4 million at the end of 2018 and $80.1 million at the end of 2017.
According to the filing, the union had $24.5 million in cash, $75.4 million in Treasury securities and $59.6 million investments with the entities such as the Federal Home Loan Mortgage Corp., known as Freddie Mac; Federal Home Loan Banks; and Federal Farm Credit Banks.
The union typically prepares for bargaining by withholding licensing money due to players and keeping it available to disburse during or after a stoppage. Baseball had eight work stoppages from 1972-95 but has not had one since.
Baseball’s labor contract expires on Dec. 1, 2021. The union has threatened to file a grievance accusing Major League Baseball of bad faith in bargaining during contentious talks to start the pandemic-delayed season, an accusation MLB had denied. The sides failed to reach an agreement during talks in May and June, leaving baseball Commissioner Rob Manfred to unilaterally announce a 60-game schedule.
Union head Tony Clark earned a $2.25 million base salary, an increase of $100,000, according to the disclose form.
Bruce Meyer earned $1 million in his first full year as senior director of collective bargaining and legal.
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