MLBPA reduces liquid assets after labor deal last spring

By: Ronald Blum, The Associated Press Posted: 7:49 PM CDT Monday, Apr. 3, 2023 Last Modified: 8:01 PM CDT Monday, Apr. 3, 2023

Advertise with us

NEW YORK (AP) — The baseball players’ association reduced cash, U.S. Treasury securities and investments to $142.4 million on Dec. 31, down from $271.2 million at the start of the year in a decrease typical of the period that follows a collective bargaining agreement.

Read this article for free:

or

Already have an account? Log in here »

To continue reading, please subscribe:

*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.

*Billed as $19 plus GST every four weeks. Cancel any time.

Read unlimited articles for free today:

or

Already have an account? Log in here »

Hey there, time traveller!
This article was published 03/04/2023 (956 days ago), so information in it may no longer be current.

The union increases liquid assets in the years ahead of bargaining in order to have money to distribute to players in the event of a work stoppage. The union made $5.26 million in loans to players of $2,500 to $25,000 each during 2022, listed as licensing advances payable over 36 months. The loans were repaid through a reduction of licensing distributions due in 2022.

Union head Tony Clark earned $2.25 million last year, according to the union’s annual disclosure form filed with the U.S. Labor Department, dated March 31. That was the same as his 2021 salary.

FILE - Major League Baseball Players Association Executive Director Tony Clark answers a question during a news conference in New York on March 11, 2022. Minor leaguers ratified their first collective bargaining agreement with Major League Baseball ahead of the season's start Friday, March 31, 2023. “It’s a historic day for these players,” union head Tony Clark said in a statement. (AP Photo/Richard Drew, File)

Bruce Meyer earned $1.36 million, up from $1 million. He was promoted last July to deputy executive director from senior director of collective bargaining and legal.

Salaries for some of the union leaders reflected bonuses paid after collective bargaining.

Ian Penny, promoted to senior adviser from general counsel last July, earned $917,641, an increase from $677,019.

Matt Nussbaum, who became general counsel after serving as deputy general counsel, earned $890,802, up from $651,700.

Jeff Perconte, promoted to deputy general counsel from assistant general counsel, rose to $640,000 from $501,050.

Harry Marino, hired as an MLBPA assistant general counsel last September when the union began representing minor leaguers, earned $68,977. Marino had been head of Advocates for Minor Leaguers.