We all watched the New York Yankees win the World Series last week with what was commonly referred to as “the best team money can buy.” The Yankees’ $208-million payroll greatly exceeded the player costs of its opponent, the Phillies ($113 million), and, for that matter, every other MLB team. Their dramatic spending has been the source of much debate in light of the results, but we have to remember that one year ago, the Yankees were also the highest-spending team in baseball by a good margin and watched the postseason with the rest of us.
My strong feeling has always been that spending in professional sports does not strongly correlate to winning. Having said that, I do think in a system without a salary cap, greater financial resources give teams an advantage that a cap system does not. In other words, the margin for error is much greater for a club spending significantly more than other teams competing in the same league. For more click the link.
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