The New York Yankees haven't won a World Series since 2009 and you won't hear Boston Red Sox fans complain. But their long-spoiled fanbase is growing tired of endless playoff contention with no results.
Yankees owner Hal Steinbrenner on October 21 tried to answer for his organization's shortcomings, but didn't make himself look great. Not only was his presser alongside Brian Cashman taken over video call, which isn't the best look, he blamed his players for the team's struggles, not leadership. But to those that don't particularly care who's to blame, Steinbrenner's comments about the impending CBA negotiations stuck out the most.
A reporter asked Steinbrenner if he supports the implementation of a salary cap. Most fans wouldn't expect the owner of the Yankees, the single richest franchise in MLB, to say what he did.
"I helped craft the proposals that we have given at the bargaining table, and I support those proposals in their entirety. That should answer your question," Steinbrenner said.
And that should tell all baseball fans that a salary cap has nothing to do with competitive balance. It's about owners spending as little as possible without taking any heat for it — which is why Red Sox and Fenway Sports Group owner John Henry doesn't speak to local media anymore.
Hal Steinbrenner's support for a salary cap rivals some of Red Sox owner John Henry's worst quotes
Nothing about the implementation of a salary cap serves the Yankees (or any team's fanbase). New York has long been the premier destination for free agent talent and its teams are built on the market and not in the minor leagues. A salary cap kills any advantage New York has when trying to attract talent, and any ownership group truly concerned about winning would decline that change.
The Yankees' desire to save money is transparent following a move they made earlier this year. New York in August accepted a $2.6 billion investment from Apollo Global Management and it added Apollo Sports Capital CEO, Al Tylis, to the board of Yankee Global Enterprises (subscription required). In short, the Yankees, long considered a sacred and untouchable organization which plays in a building often referred to as a "cathedral," have sold out to private equity. Anything for a buck, even when you have more money than god.
Henry and FSG feel the same. Back in March 2021, RedBird Capital Partners made a $750 million investment in FSG. The money didn't go to the Red Sox directly, but to Henry's vast sports enterprise that has only grown since then.
It's safe to say some baseball contracts have gotten out of hand. It's hard to argue that Shohei Ohtani is truly worth $700 million or Juan Soto is worth $765 million. But capping players' pay — while they play 162 games per year not counting spring training or postseason, spend six months on the road, keep their bodies in peak athletic shape and putting them on the line in front of 100 mile per hour fastballs or destroy their arms by pitching, without whom there would be no baseball, at all — is peak corporate greed. The players shouldn't, and probably won't, stand for it. A cap on deferred payments should do the trick.
The Yankees (and probably Henry and FSG) standing in favor of a salary cap is a grim sign for baseball. Capping owners' spending ability won't embolden smaller markets because the stingiest owners (Bob Nutting of the Pittsburgh Pirates, John Fisher of the Athletics, Bruce Sherman of the Miami Marlins, etc.) will still find ways to spend the least.
Owning a sports team is an expensive venture and all these men knew that when they signed up for it. Steinbrenner is the last person on earth baseball fans want to hear supporting a salary cap.
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