Lowest team payrolls since 1988. The difference between the highest and lowest number in the lowest payroll column is only $9.3 million, but in the highest payroll column it is $92.4 million. This shows the tremendous difference there is between the rich clubs and the poor ones. In 1998 the Montreal Expos’ payroll was $8.3 million and they had an income of $40 million dollars, but in contrast to the Expos, the Yankees and the Orioles had revenues of about $150 million each and payrolls of nearly $74 million. Five players; Gary Sheffield ($14,936,667), Albert Belle ($10,000,000), Greg Maddux ($9,600,000), Mark McGwire ($8,928,354) and Barry Bonds ($8,916,667) each earned more than the entire Expos payroll. This is a dramatic example of the competitive imbalance that exists and is rapidly growing within Major League Baseball. During the early 1990’s, the baseball owners became very concerned with the financial situation of baseball and the economic disaster that they claimed was looming if something was not done to control the rising player salaries, and address the competitive and financial imbalance that was becoming a concern for the owners and threatened to ruin the smaller market clubs. The owners believed that baseball’s financial situation was out of control. So, in 1994 the owners decided to go to war with the Major League Player’s Association in order to pursue a hard salary cap that would help to hold down the rising tide of player’s salaries. The two opposing groups became locked up in a collective bargaining stalemate that resulted in the players going on strike on August 12, 1994 after being threatened by the owners with a lockout. The strike wiped out two months of the ‘94 season and caused the cancellation of the World Series for the first time in 90 years. Before the strike Major League Baseball was enjoying its best season ever in game attendance and baseball’s television ratings...
