MLBPA increases investments to $178M ahead of bargaining

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This article was published 11/05/2021 (1935 days ago), so information in it may no longer be current.

NEW YORK (AP) — The Major League Baseball Players Association increased its liquid assets by about $19 million to $178.5 million ahead of collective bargaining that could lead to a spring training lockout next year.

The union had $178.5 million in cash, U.S. Treasury securities and investments on Dec. 31, according to a financial disclosure form filed with the U.S. Department of Labor. That was up from $159.5 million at the end of 2019, $102.4 million at the end of 2018 and $80.1 million at the end of 2017.

According to details in the filing, the union had $22.4 million in cash, $94.1 million in Treasury securities and $62 million investments with entities such as the Federal Home Loan Mortgage Corp., known as Freddie Mac; the Federal National Mortgage Association, known as Fannie Mae; Federal Home Loan Banks; and Federal Farm Credit Bank.

The union usually prepares for bargaining by withholding licensing money due to players and keeping it available to disburse during or after a stoppage. Baseball underwent eight work stoppages from 1972-95 but has not had one since. The current labor contract expires Dec. 1.

Union head Tony Clark earned a $2.25 million base salary, unchanged from 2019, according to the disclosure form.

Bruce Meyer earned $1,005,000 as senior director of collective bargaining and legal, a raise of $5,000 from 2019.

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