NEW YORK – The Major League Baseball Players Association nearly doubled its net investments over two years as the sport heads toward collective bargaining that could lead to a spring training lockout in 2022.
The union had $ 159.5 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 on Tuesday. That was an increase of $ 102.4 million at the end of 2018 and $ 80.1 million at the end of 2017.
According to the filing, the syndicate had $ 24.5 million in cash, $ 75.4 million in Treasury securities and $ 59.6 million in investments with entities such as Federal Home Loan Mortgage Corp., known as Freddie Mac; Federal Home Loan Banks; and Federal Agricultural Credit Banks.
The union generally prepares for bargaining by withholding license money due to players and keeping it available to disburse during or after a stoppage. Baseball had eight work stoppages between 1972 and 1995, but hasn’t had one since.
Baseball’s employment contract expires on December 1, 2021. The union has threatened to file a complaint accusing Major League Baseball of bad faith in negotiations during contentious talks to start the season delayed by the coronavirus pandemic, an accusation that MLB had denied. The parties failed to reach an agreement during talks in May and June, leaving baseball commissioner Rob Manfred to unilaterally announce a 60-game schedule.
Union boss Tony Clark earned a base salary of $ 2.25 million, an increase of $ 100,000, according to the disclosure form.
Bruce Meyer earned $ 1 million in his first full year as a senior director of collective bargaining and legal.