MLB Industry Growth Fund

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MLB Industry Growth Fund is a pool of money collected by Major League Baseball. The purpose of the Industry Growth Fund (IGF) is, essentially, to promote Major League Baseball. Specifically, there are three goals; to enhance fan interest in the game, to increase baseball's popularity, and to ensure industry growth into the 21st century. It was created as part of the Major League Baseball (MLB) Collective Bargaining Agreement (CBA) in 1997.

Major League Baseball Professional baseball league

Major League Baseball (MLB) is a professional baseball organization, the oldest of the four major professional sports leagues in the United States and Canada. A total of 30 teams play in the National League (NL) and American League (AL), with 15 teams in each league. The NL and AL were formed as separate legal entities in 1876 and 1901 respectively. After cooperating but remaining legally separate entities beginning in 1903, the leagues merged into a single organization led by the Commissioner of Baseball in 2000. The organization also oversees Minor League Baseball, which comprises 256 teams affiliated with the Major League clubs. With the World Baseball Softball Confederation, MLB manages the international World Baseball Classic tournament.

Baseball Sport

Baseball is a bat-and-ball game played between two opposing teams who take turns batting and fielding. The game proceeds when a player on the fielding team, called the pitcher, throws a ball which a player on the batting team tries to hit with a bat. The objectives of the offensive team are to hit the ball into the field of play, and to run the bases—having its runners advance counter-clockwise around four bases to score what are called "runs". The objective of the defensive team is to prevent batters from becoming runners, and to prevent runners' advance around the bases. A run is scored when a runner legally advances around the bases in order and touches home plate. The team that scores the most runs by the end of the game is the winner.

Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales, working hours, training, health and safety, overtime, grievance mechanisms, and rights to participate in workplace or company affairs.

The IGF is managed by a seven-member board of directors. The board of directors meets in person at least three times per year.

Board of directors board composed of directors

A board of directors is a group of people who jointly supervise the activities of an organization, which can be either a for-profit business, nonprofit organization, or a government agency. Such a board's powers, duties, and responsibilities are determined by government regulations and the organization's own constitution and bylaws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet.

Funding for the IGF comes, primarily, from the MLB Competitive Balance Tax. Additional funds may also come from the Major League Baseball Players Association (MLBPA) or the individual baseball clubs. [1]

Major League Baseball Players Association

The Major League Baseball Players Association is the collective bargaining representative for all current Major League Baseball players. All players, managers, coaches, and athletic trainers who hold or have held a signed contract with a Major League club are eligible for membership in the Association.

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References

  1. MLB CBA Article XXV