MLB clubs cut payroll by $47 m

NEW YORK: Major League Baseball teams cut payrolls by $47 million from opening day in 2008 to the first day of this season, according to an analysis by The Associated Press.

That was a drop of 1.7 percent, the first drop since 2004 and just the second since the 1994-95 strike.

"Clubs were cautious all winter with regards to the economy and were concerned the economy might have an impact on club revenue," said Bob DuPuy, MLB's chief operating officer. "The spending reflected that for many clubs."