AP NewsBreak: Spending drops 11 pct in MLB draft - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

AP NewsBreak: Spending drops 11 pct in MLB draft

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NEW YORK (AP) — Spending by teams in baseball's amateur draft dropped by 11 percent in the first year of restrictions imposed under the new labor contract.

Teams allocated $207.7 million to draft picks, down from $233.6 million last year, according to figures compiled by Major League Baseball. That's still the second-highest annual total.

Under the latest labor deal, two aims were to slow spending on prospects through the draft and to get picks to sign sooner.

Copyright 2012 The Associated Press.

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