ESPN550.com
As most of us know, from listening to the news reports and watching the value of our homes and 401(k) accounts shrink on a daily basis, we are in the midst of tough economic times.
Even the NFL, the gold standard by which all American pro sports leagues are measured, is not immune to the recession. The league is cutting 10 percent of its headquarters staff, eliminating about 150 of its 1,100 employees.
Earlier, the NBA, Major League Baseball and NASCAR announced layoffs.
And there are reports that the Arena Football League, which has grown in popularity and attendance during the past decade, is contemplating the cancellation of its 23rd season in 2009 with an eye of working toward a more economical single-entity business model in 2010.
But some baseball teams appear to be immune from – or are ignoring -- the difficult financial times.
Earlier this week, the Yankees made a seven-year, $161 million offer to land free-agent left-hander CC Sabathia and have followed that up with a five-year, $81 million offer in an effort to secure the services of free-agent right-hander AJ Burnett.
The Mets signed closer Francisco Rodriguez to a three-year deal worth $31 million, plus incentives. And the lowly Washington Nationals have offered free-agent first baseman Mark Teixeira an eight-year $120 million contract.
Recession? What recession?
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