What the Yankees do right is to be located in New York and have the deep pockets to outspend every team in baseball. They don’t have to worry about developing talent, they simply buy up talent that other teams develop. They even had the common sense to have their owner die when he could avoid inheritance taxes. As much as I hate the Federal Government and the unfairness of the inheritance tax, I hate the Yankees almost as much.
The league should push HARD for complete revenue sharing, JUST LIKE THE NFL. That is why the NFL is so popular. Any team can compete and every team makes real money. They should also push for a hard salary cap and even more importantly a hard salary basement.
Complete revenue sharing would be a socialistic joke. And a hard salary cap would never get accepted. The MLBPA won't accept a salary floor either (although, given that there is a minimum salary for players, there is a de facto salary floor -- the minimum salary times 25 (season roster) or times 40 (full roster), depending on how you want to calculate it. What makes baseball finances unlike other sports is the farm system. The big-league club is paying the salaries and other expenses of those players. (The minor-league club pays for things like travel, the facility, and the like.) That's an expense that isn't counted in payroll calculations. That's why you can't just take all the revenues and divide them into 30 pieces. Now, visiting clubs used to get a share of the gate receipts and they should go back to that. Maybe the league gets a percentage of TV and radio money, too. But full-out revenue sharing like the NFL (which is NOT the reason for its popularity) would be bad for baseball.
BTW, I'd take another look at the Sports Broadcasting Act.