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Sunday, February 12, 2012

30% of Baseball Hall of Fame profits are distributed to inductees

7/23/2009, "The Hall of Fame credential means steady income for life.... In recent years the money pot has grown as the Hall of Fame, which produces and markets its own line of merchandise, has been forced to give 30% of the profits to its inductees. According to Marvin Miller, very likely the world’s greatest expert on baseball economics, this helps explain why the Veterans Committee, composed of Hall of Famers, consistently refuses to exercise its mandate to elect previously overlooked old-timers. “Nobody wants to dilute the value of his stock,” Mr. Miller told me."...

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