"The governance of baseball is a bit of a medieval operation, " said former commissioner Fay Vincent.

WSJ: Dodgers Owner Frank McCourt Files for Team's Bankruptcy

"Anything you can do to get a player to give up flexibility is to your benefit, " said former commissioner Fay Vincent.

WSJ: Baseball Free Agency Dies of Neglect -- Matt Cain, Joey Votto, Andrew McCutchen, Matt Kemp Opt for Long-Term Deals

Former Major League Baseball Commissioner Fay Vincent has become a dear friend to me over the years and has always supported my baseball initiatives at New York University.

FORBES: Will We Ever See MLB Compensation Tied to Team Equity?