According to Sports Business Journal, that is about what Bud Selig received in compensation in 2007. It’s difficult to know his marginal contribution to revenue growth, given that the books are not open and I’m not exactly sure about what he does. However, what I am sure of is that Bud Selig has presided over an exceptionally prosperous era of baseball. While he may not deserve all the credit, he ought to get some.
From 2002–2007, MLB’s revenue increased 12.44% per year on average. During this same span baseball attendance was up 3.23% per year; and though attendance was down 1% in 2008, it was still up 3.4 % over 2006.
In addition, Selig seems to do a good job of handling the unique personalities of many proud owners. He’s kept labor peace, and he’s handled significant pressure from the federal government on several fronts. A lot of people don’t like Bud Selig, possibly for being rich or ending one All-Star game in a tie, but it’s hard to argue that he’s bad at his job. And considering that he is 74, no one would blame him for retiring, and I think the owners feel his compensation is what they need to retain his services.
There are a lot of rich people in the world. If you don’t like it, fine; but, it’s not Bud Selig’s fault. He possesses valuable skills, just like players on the field, and he’s going to be compensated for those skills or go somewhere else.