From the Pittsburgh Press:
University of Pennsylvania economists warn that major league baseball payrolls may triple in the near future, threatening every team with the "spectre of bankruptcy."
"Pressure will come from the non-superstars," said Jim Eshoff and Chris Ritz, economists for the university's prestigious Wharton School who say they are card-carrying baseball fans.
They said the salary glut will have dire effects on the health of major league franchises, even the healthiest.
"If competition is only a reality among a certain few teams," they said, "the fans and their dollars may go elsewhere.
"No team is immune to the spectre of bankruptcy," the economists said.
— April 20, 1977 —
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