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Originally Posted by Jim VB
Good point. To my knowledge there wasn't. (It wasn't just Arod. He's owed about $27 million in deferred comp, but the total unsecured debt was about $204.) I think MLB and even the new owners were concerned about the precedent set if any owner defaults on deferred comp. I would assume that the first time it happens will be the last time any player agrees to deferred comp.
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I think it is more about wages as Frank said than about what precedent is set. Since it is handled by the court I believe they have to go by normal bankruptcy code instead of what would be best for MLB. Despite the arcane monopoly exemption MLB enjoys they still have to follow other corporate laws.