The Employment Contracts for Professional Athletes Often Contain Options for Either

question 70

Multiple Choice

The employment contracts for professional athletes often contain options for either the player or the team. Consider one recent contract in Major League Baseball. The player's salary was guaranteed for the first couple of years. However, after several years, the team had the option to cancel the contract if the player became injured. If we think of each player as a project for the team, this option feature of the contract is best described as:

• A) the option to defer investment.
• B) the option to make follow-on investments.
• C) the option to change operations.
• D) the option to abandon projects.

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Definitions:

Immediate Development

pertains to rapid progress or improvement in conditions or capabilities, occurring without significant delay.

Economic Union

refers to an agreement between countries that allows for the free movement of goods, services, and people, and coordinates economic policies.

Socially Approved

Actions or behaviors that are accepted and encouraged by the majority within a society or social group.

Historical Aberration

An event, trend, or phenomenon that significantly deviates from what is considered normal or expected in historical context.