Cole: Salary cap, floor would be like players subsidizing owners' issues

New York Yankees right-hander Gerrit Cole isn't sure that implementing a salary cap and floor would benefit Major League Baseball because payroll discrepancy is an owner-to-owner issue.

"There is nothing stopping some of these owners from spending more or spending less," Cole said, according to Gary Phillips of New York Daily News. "It's their discretion and their choice. If they want to be more liquid, they certainly have the ability to take loans out. If they don't want to be more liquid, then they can do whatever they need to do. Each franchise is different in the totality of their worth.

"I'm cautioning that fixing some of these issues with a cap and a floor makes it like the players are subsidizing the issues of the owners.

"So, I would be reluctant to say that system would be helpful. But I'll say that with a caveat: I haven't seen any numbers or anything that would show me otherwise. That's not to say that those things can't come up in the future."

Cole, who was part of the MLB Players Association's executive subcommittee when the last collective bargaining agreement was agreed upon in March 2022 after a lengthy work stoppage, said Rob Manfred enthusiastically praised baseball's economic model during a meeting with the Yankees in September. However, the MLB commissioner must also represent what's in the best interest of the owners.

"Rob speaks for Rob, and Rob speaks for his opinion on the economics," Cole added. "But then at the same time, Rob works for the owners. So, if the owners direct Rob to go a certain direction, Rob's got to do what his bosses tell him to do."

Fear is already growing around the baseball industry that another labor stoppage could be on the horizon over the proposal of a salary cap when the current CBA expires in December 2026.