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Wednesday, January 23, 2008
Bowie Bonds? How about Bowie Options
Ten years ago, Davd Bowie sold the rights to his royalties for a 10 year period for $55MM. Frank Thomas did, or was considering doing, the same thing, among other entertainers. Now, Randy Newsom, minor leaguer, is offering futures in his salary.
This idea happens because there is a great disparity between what a player earns now, and what he will earn in the future. This is unlike the NHL, where a guy that will make lots of money is just a year away. With minor leaguers in MLB, they serve rather long apprenticeships. And young players reaching the majors are at an all-time low. With so much time going on between him being in the minors and him finally making the majors, anything can happen. This issue can be solved by increasing the minor league contracts of all players, and lowering the minimum salary for all rookies. Basically, instead of the Fans paying the minor leaguers extra money (and getting their money back from rookies and sophs basically), MLB does it.
But, because of the gap, the idea is born. And it’s a fantastic idea.
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