MLB minimum salary rises $7,000 next year to $570,500
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Hey there, time traveller!
This article was published 19/11/2020 (1817 days ago), so information in it may no longer be current.
NEW YORK – The major league minimum salary will rise to $570,500 next season, a hike of $7,000.
Under Major League Baseball’s collective bargaining agreement with the players’ association, the minimum was $535,000 in 2017, $545,000 in 2018 and $555,000 in 2019.
In the final two seasons of the five-year deal, the increase is calculated as the rise from October to October in the Consumer Price Index for Urban Wage Earners and Clerical Workers.
The October 2020 figure was announced Nov. 12 by the U.S. Bureau of Labor Statistics, and the MLB rise was confirmed by the commissioner’s office on Thursday after it conferred with the players’ association.
Because of the novel coronavirus pandemic, MLB and the players’ association agreed to prorated salaries for 2020, which reduced the major league minimum from $563,500 to $208,704.
The minor league minimum for a player signing his first major league contract increases from $46,000 to $46,600 next season, and the minor league minimum for a player signing a second or later major league contract goes up from $91,800 to $93,000.
MLB announced last February that it is raising 2021 minimums for minor league contracts, from $290 weekly to $400 at rookie and short-season levels, from $290 to $500 at Class A, $350 to $600 at Double-A $502 to $700 at Triple-A.
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