MLBPA doubles investments to $160M ahead of bargaining
By RONALD BLUM
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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Updated July 2, 2020