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Major League Baseball Luxury Tax
Major League Baseball (MLB) has a luxury tax called the "Competitive Balance Tax" (CBT). In place of a salary cap, the competitive balance tax regulates the total sum of money a given team can spend on their roster. Salary caps are common across professional sports leagues in the United States. Without these measures, teams would not be restricted on the amount of money spent on players' salaries. Therefore, teams with greater funding or revenue would possess a competitive advantage in their ability to attract top talent via higher salaries. The MLB implemented the competitive balance tax in 1997 to reduce anti-competitive behavior in the league. The Commissioner's Office sets the competitive balance tax threshold each year. Unlike other professional sports leagues, the MLB allows teams to go over the threshold, however, doing so results in the team being charged a tax on all overages. Per the MLB's 2017-2021 Collective Bargaining Agreement, the overage premium for exceeding the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Major League Baseball
Major League Baseball (MLB) is a professional baseball organization and the oldest major professional sports league in the world. MLB is composed of 30 total teams, divided equally between the National League (NL) and the American League (AL), with 29 in the United States and 1 in Canada. The NL and AL were formed in 1876 and 1901, respectively. Beginning in 1903, the two leagues signed the National Agreement and cooperated but remained legally separate entities until 2000, when they merged into a single organization led by the Commissioner of Baseball. MLB is headquartered in Midtown Manhattan. It is also included as one of the major professional sports leagues in the United States and Canada. Baseball's first all-professional team, the Cincinnati Red Stockings, was founded in 1869. Before that, some teams had secretly paid certain players. The first few decades of professional baseball were characterized by rivalries between leagues and by players who often jumped from one te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cleveland Indians
The Cleveland Guardians are an American professional baseball team based in Cleveland. The Guardians compete in Major League Baseball (MLB) as a member club of the American League (AL) Central division. Since , they have played at Progressive Field. Since their establishment as a Major League franchise in 1901, the team has won 11 Central division titles, six American League pennants, and two World Series championships (in 1920 and 1948). The team's World Series championship drought since 1948 is the longest active among all 30 current Major League teams. The team's name references the ''Guardians of Traffic'', eight monolithic 1932 Art Deco sculptures by Henry Hering on the city's Hope Memorial Bridge, which is adjacent to Progressive Field. The team's mascot is named "Slider." The team's spring training facility is at Goodyear Ballpark in Goodyear, Arizona. The franchise originated in 1894 as the Grand Rapids Rippers, a minor league team based in Grand Rapids, Michigan, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington Nationals
The Washington Nationals are an American professional baseball team based in Washington, D.C.. They compete in Major League Baseball (MLB) as a member of the National League (NL) East division. From 2005 to 2007, the team played in RFK Stadium while a new stadium was being built. In 2008, they moved in to Nationals Park, located on South Capitol Street in the Southeast quadrant of D.C., near the Anacostia River. The Nationals are the eighth major league franchise to be based in Washington, D.C., and the first since 1971. The current franchise was founded in 1969 as the Montreal Expos as part of a four-team expansion. After a failed contraction plan, the Expos were purchased by MLB, which sought to relocate the team to a new city. Washington, D.C. was chosen in 2004, and the Nationals were established in 2005 as the first MLB franchise relocation since the third Washington Senators moved to Texas in 1971. While the team initially struggled after moving to Washington, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Francisco Giants
The San Francisco Giants are an American professional baseball team based in San Francisco, California. The Giants compete in Major League Baseball (MLB) as a member club of the National League (NL) West division. Founded in 1883 as the New York Gothams, and renamed three years later the New York Giants, the team eventually moved from New York City to San Francisco in 1958. The franchise is one of the oldest and most successful in professional baseball, with more wins than any team in the history of major American sports. The team was the first major-league organization based in New York City, most memorably playing home games at several iterations of the Polo Grounds. The Giants have played in the World Series 20 times. In 2014, the Giants won their then-record 23rd National League pennant; this mark has since been equaled and then eclipsed by the rival Dodgers, who as of 2022 lay claim to 24 NL crowns. The Giants' eight World Series championships are second-most in the NL ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Detroit Tigers
The Detroit Tigers are an American professional baseball team based in Detroit. The Tigers compete in Major League Baseball (MLB) as a member of the American League (AL) Central division. One of the AL's eight charter franchises, the club was founded in Detroit as a member of the minor league Western League in 1894 and is the only Western League team still in its original city. They are also the oldest continuous one name, one city franchise in the AL. Since their establishment as a major league franchise in 1901, the Tigers have won four World Series championships (, , , and ), 11 AL pennants (1907, 1908, 1909, 1934, 1935, 1940, 1945, 1968, 1984, 2006, 2012), and four AL Central division championships (2011, 2012, 2013, and 2014). They also won division titles in 1972, 1984, and 1987 as a member of the AL East. Since 2000, the Tigers have played their home games at Comerica Park in Downtown Detroit. The Tigers constructed Bennett Park at the corner of Michigan Avenue and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Cubs
The Chicago Cubs are an American professional baseball team based in Chicago. The Cubs compete in Major League Baseball (MLB) as part of the National League (NL) Central division. The club plays its home games at Wrigley Field, which is located on Chicago's North Side. The Cubs are one of two major league teams based in Chicago; the other, the Chicago White Sox, is a member of the American League (AL) Central division. The Cubs, first known as the White Stockings, were a founding member of the NL in 1876, becoming the Chicago Cubs in 1903. Throughout the club's history, the Cubs have played in a total of 11 World Series. The 1906 Cubs won 116 games, finishing 116–36 and posting a modern-era record winning percentage of , before losing the World Series to the Chicago White Sox ("The Hitless Wonders") by four games to two. The Cubs won back-to-back World Series championships in 1907 and 1908, becoming the first major league team to play in three consecutive World Series, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxury Tax
A luxury tax is a tax on luxury goods: products not considered essential. A luxury tax may be modeled after a sales tax or VAT, charged as a percentage on all items of particular classes, except that it mainly directly affects the wealthy because the wealthy are the most likely to buy luxuries such as expensive cars, jewelry, etc. It may also be applied only to purchases over a certain amount; for instance, some U.S. states charge luxury tax on real estate transactions over a certain limit. A luxury good may be a Veblen good, which is a type of good for which demand increases as price increases. Therefore, the effect of a luxury tax may be to increase demand for certain luxury goods. In general, however, since a luxury good has a high income elasticity of demand by definition, both the income effect and substitution effect will decrease demand sharply as the tax rises. Theory Luxury tax is based on the concept of positional goods, which are scarce goods whose value arises as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florida Marlins
The Miami Marlins are an American professional baseball team based in Miami. The Marlins compete in Major League Baseball (MLB) as a member club of the National League (NL) East division. The club's home ballpark is LoanDepot Park. The franchise began play as an expansion team in the 1993 season as the Florida Marlins. The Marlins originally played home games at Joe Robbie Stadium, which they shared with the National Football League (NFL)'s Miami Dolphins. In 2012, the team moved to LoanDepot Park (then known as Marlins Park), their first exclusive home and the first to be designed as a baseball park. As part of an agreement with park owner Miami-Dade County to use the stadium, the franchise also changed their name to the Miami Marlins prior to the 2012 season. The Marlins have qualified for the postseason only three times, but won the World Series during their first two runs in 1997 and 2003. All three of their playoff appearances came as wild card teams, making them on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Mets
The New York Mets are an American professional baseball team based in the New York City borough of Queens. The Mets compete in Major League Baseball (MLB) as a member of the National League (NL) East division. They are one of two major league clubs based in New York City, the other being the American League's (AL) New York Yankees. One of baseball's first expansion teams, the Mets were founded in 1962 to replace New York's departed NL teams, the Brooklyn Dodgers and the New York Giants. The team's colors evoke the blue of the Dodgers and the orange of the Giants. For the 1962 and 1963 seasons, the Mets played home games at the Polo Grounds in Manhattan before moving to Queens. From 1964 to 2008, the Mets played their home games at Shea Stadium, named after William Shea, the founder of the Continental League, a proposed third major league, the announcement of which prompted their admission as an NL expansion team. Since 2009, the Mets have played their home games at Citi Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atlanta Braves
The Atlanta Braves are an American professional baseball team based in the Atlanta metropolitan area. The Braves compete in Major League Baseball (MLB) as a member club of the National League (NL) National League East, East division. The Braves were founded in Boston, Massachusetts, in 1871, as the Boston Red Stockings. After various name changes, the team eventually began operating as the Boston Braves in 1912, which lasted for most of the first half of the 20th century. Then, in 1953, the team relocation of professional sports teams, moved to Milwaukee, Milwaukee, Wisconsin, and became the Milwaukee Braves, followed by their move to Atlanta in 1966. The name "Braves" originates from Braves (Native Americans), a term for a Native American warrior. They are List of baseball nicknames, nicknamed "the Bravos", and often referred to as "America's Team#Other uses, America's Team" in reference to the team's games being broadcast nationally on Braves TBS Baseball, TBS from the 1970s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston Red Sox
The Boston Red Sox are an American professional baseball team based in Boston. The Red Sox compete in Major League Baseball (MLB) as a member club of the American League (AL) East division. Founded in as one of the American League's eight charter franchises, the Red Sox' home ballpark has been Fenway Park since . The "Red Sox" name was chosen by the team owner, John I. Taylor, , following the lead of previous teams that had been known as the "Boston Red Stockings," including the Boston Braves (now the Atlanta Braves). The team has won nine World Series championships, tied for the third-most of any MLB team, and has played in 13 World Series. Their most recent World Series appearance and win was in . In addition, they won the American League pennant, but were not able to defend their 1903 World Series championship when the New York Giants refused to participate in the 1904 World Series. The Red Sox were a dominant team in the new league, defeating the Pittsburgh Pira ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxury Tax (sports)
A luxury tax in professional sports is a surcharge put on the aggregate payroll of a team to the extent to which it exceeds a predetermined guideline level set by the league. The ostensible purpose of this "tax" is to prevent teams in major markets with high incomes from signing almost all of the more talented players and hence destroying the competitive balance necessary for a sport to maintain fan interest. The money derived from the "tax" is either divided among the teams that play in the smaller markets, presumably to allow them to have more revenue to devote toward the contracts of high-quality players, or in the case of Major League Baseball, used by the league for other pre-defined purposes. In North America, Major League Baseball has implemented the luxury tax system. The National Basketball Association also has a luxury tax provision; its utility is somewhat limited by the fact that the league also has a salary cap provision. The "hard" salary cap of the National Football ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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