cytotec to buy in the canada without a prescription buy lasilix online cheap avodart hair loss dosage trimox buy without alti doxycycline mg no prescription purchase abilify 3mg canada clomiphene citrate sale uk zovirax cost robaxin tablets 500mg grifulvin v brands india premarin tablets side effects online atorlip 5 purchase lansoprazol delivered to your home comprar mevacor original canadian aciphex drugs store can you buy amitriptyline over the counter uk terramycin plus reviews pulmicort generic australia find zestril in florida what types of retin a 0 025 are there capoten online canada online ovral l overnight delivery most common side effects of tricor what is the cost of celebrex 200 mg where to tretinoin 0 025 buy risperdal 20 is it safe to use generic cialis generic tadapox sales buy leukeran valacyclovir hydrochloride tablets buy floxin pills can you take deltasone daily best place buy doxazosin lidocaine injection for pain buy lady era online mexico no prescription can i buy levothroid in canada viagra sublingual pharmacy cialis professional drug canadian pharmacy canadian pharmacy plavix where to get prevacid tegretol discount program zithromax 500mg side effects list of tesco stores selling decadron where can i buy dyazide buy cheap premarin pills beta val for men sale in uk order ponstel from india without prescription where to buy priligy mg differin results forum aciphex rabeprazole sodium side effects brafix women buy comprar zyvox original dostinex dosage men testosterone therapy for women aspirin face mask youtube alti doxycycline online order donde comprar beconase aq innopran xl on line in the usa purchase cipralex mg probalan to purchase without a prescription do i need a prescription for bactroban urispas online usa is anastrozolo available on line in canada motrin how to buy hoodia tablets weight loss avalide medication dose pharmacy that sells pravachol buy levitra professional in usa buy lozol in uk half price bactrim generic cabaser india salbumol prix en pharmacie en france pharmaceutical companies india list nitroglycerin from india is it illegal to order generic zoloft can i order motrin online brand clomifene buy what is frusemide tablets long should take clomid post cycle finast online meds generic procardia switzerland american allies 2012 cual es el precio de vermox plus cheap clomiphene 100 mg minocycline mg canada pastillas para la ereccion en colombia colchicine pills buy online cheap aciphex generic pharmacy billig salvent online kaufen best place to buy roaccutane in india januvia for dogs buy flunil birth control online mexico can order azurette canada buy cialis online canadian protonix drug canadian pharmacy better than liv 52 can i order luvox no prescription in the usa cost of alti doxycycline micronase online purchase staxyn cost per pill purchasing key pred online uk where can i order fincar safe zanaflex no precription como comprar meclizine diamox pill shortage coupons for acai berry diet levitra super active online order best place to buy lozol in uk rumalaya liniment drugs for sale is there a generic drug for skelaxin cheap brand viagra 100mg benicar order online no prescription non generic baclofen online post cycle therapy adalat acheter cialis en ligne pas cher cheapest yasmin to buy prednisolone prescriptions robaxin cause weight gain meclizine shop net drugs similar to rosuvastatin bystolic buy cheap no prescription renagel femcare delivery uk canada drugs alli with prescription yasmin sold over counter levitra coupon 2014 betnovate canada paypal discount viagra soft of canada carafate without atarax where to purchase western drug prednisolona buy diovan boots pharmacy how to purchase amlodipin how to buy disulfiramum online buy frumil tablets usa voltaren gel by mail zydis pct buy midamor perth australia purchase celexa cheap roxithromycin tablets 300mg can you take metronidazole 500 mg while pregnant buy chloromycetin online from mexico comprar moduretic portugal alli online tetracycline drugstore com pricing buy frumil online canada no prescription aricept drugs code red 7 doxi 1 supplier in uk buy erection packs 2 with a mastercard crestor for sale online buy acivir pills inhaler canada phenergan pct buy cheap metformin discount buy generic generic alesse aviane glycomet buy canada best place to buy obelit how to buy salvent in canada actos pharmacy order cheap dipyridamole 100 mg buy fluoxetina xr without prescription buy finasteride in malaysia cheap genuine kamagra chewable online buy proventil online mexico no prescription buy viagra plus without rx where can i get some viagra super active haridra women buy cheapest price for crestor sale digoxin sildenafil tablets 50mg lac hytrin uses buy cabgolin in uk glucophage com stopping remeron weight loss calcium carbonate online coupon code allegra pharmacy order viagra online canada pharmacy american epivir hbv why is generic lexapro so expensive buy zithromax no rx suppliers of sildenafila in us get accutane prescription uk precio de alli en mexico retin a gel 0,1 pills buy order clomid without prescription buy orlistato online from india order bactroban overnight buy seroflo tablets canada viagra online sales absolute privacy buy trandate online no prescription united states generic buy cheap ashwagandha online buyers of crestor canada amantadine common cold quibron t buy online us generic valtrex pill pictures chloromycetin from canada with no prescription can you only get rumalaya gel on prescription acheter pilule alli ligne best time of day to take lipitor medication reviews on acai berry ultra trim fincar buy no prescription actos 30 mg tabletas buy kamagra online us no prescription cipro 55 sale brafix mist canada triamterenum generico italiano low cost meclizine adalat birth control online mexico zentel mg canada buy amantadine tablets mexico over counter zenegra indian pharmaceutical companies clincin birth control online us skelaxin generic for diclofenac sod ec 75 mg what is it for order moduretic overnight order bactroban from australia without prescription order malegra fxt canada elimite online forum where to buy brand cialis with echeck ordering levothroid india silagra dosage recommended calan canada head office imitrex tablets dosing retino a cream 0,05 over the counter can order toradol online actos uk spc minoxidil 10 for men paroxetine without a prescription from uk lantus weight gain lexapro echeck mexican protonix can you order cialis online for canada prandin side effects long term use suprax next day shipping purchase demadex online where can i buy neurontin online without a prescription buy betoptic online overnight buy calan verapamil buy generic actos with bonus cabgolin sublingual dosage buy digoxin pills online buy albenda online safely order aciclovir 1 herpes 200mg best place buy etodolac erection packs 1 uk online my ashwagandha coupons lansoprazol without rx roaccutane buy online what is prednisone 10 mg tablets for over counter biaxin viagra medicine price purchase dapoxetine on line in mexico where can i buy unprescribed clomid pills buy cheap carafate generic buying prazosin can you buy finast biaxin lowest price what pain meds for kidney stones where can i buy tadalis mg buy combivent patch medication sales instructions on how to use albuterol inhaler prednisolone pills online in the uk z pack antibiotic for uti artane birth control online us order allie on line cleocin online orders buy amlodipinbesilat in india online do you need rx quetiapinum buy alli diet pill canada avodart tablets nitrofurantoin antibiotic class doxycycline hyclate 100mg capsules used for sumycin daily use reviews clonidine medication for sleep misoprostol buy now best price for xeloda india pharmacies online that sell plendil aricept comprar no brasil cheap slimex 15mg toprol side effects in women rumalaya liniment generic wikipedia drugs legal buy tizanidina online canada lesofat side effects philippines order asacol from uk without prescription decadron mg order avapro discount no prescription can order pulmicort canada buy digoxin tablets us cost of mail oristal where to purchase doxycycline forum tadacip over counter indian pharmacy acai can you buy betapace mgb cheap genuine lamisilate online kamagra in the uk ibuprofen 600mg online zitromax delivery london over the counter inhaler for cough buy glucotrol xl online without prescription vasotec with american express order proscar online in usa overnight erection packs 2 online without viagra what are the side effects of taking water pills non generic keftab buy bupropion online without prescription accutane generic brands generic relafen india crestor generic canada cheap pills buy finast prescription is there a difference between generic wellbutrin and brand name cilias deliery to po.box without prescription vagifem maximum dosage how much will mestinon cost anxiety symptoms tingling yasmin pills online in the india indian pharmacy brand cialis isotretin online without rx mexico pharmacies online that sell salbumol arimidex prescription canada trazodone for sale uk can you buy amantadine medicine canadas grifulvin v to buy in australia serophene over the counter australia generic india amantadine hcl buy antara low cheap price medication similar to maxalt order bupropion tablets tadacip no prescription canada where can i get some diarex can order combivent online buy diabecon online uk prednisolona generic mexico fast duetact deleviery cialis soft direct pharmacy pharmacy mexico wellbutrin sr is it illegal to order generic serpina prednisolone for cats treatment buy online endep generic buy almetec with no script acticin discount code seroflo visa where is augmentin made amoxil capsules for dogs nolvadex side effects pct minocin acne scars cephalexin 500 mg prices tofranil daily use reviews safe to buy generic retin a gel 0,1 from canada safe cialis super active no precription adalat pills drugstore sale seroflo how to take viagra super active canadian pharmacy online ranitidine frusemide medication side effects advair diskus generic wikipedia drugs is prometrium better than provera can you use fucidin cream on spots buy plavix online pharmacy buy l thyroxine canada generic tricor switzerland japanese version viagra where to buy roaccutane online india online olanzapine purchase liv 52 canada overnight delivery levitra 10mg rezeptfrei propranolol generic 2013 drugs generic pilex india where can i buy citalopram top drugstore foundations 2013 order cialis soft online no prescription with a echeck buy amoxil online us no prescription what is flagyl metronidazole used for is generic cialis effective pravachol rx atorvastatin generic coupons what does claritin do to dogs order propranolol injection buy arimidex steroid kamagra price bangkok floxin dose buy olanzapine online with mastercard delta cortef in usa imuran tablets on line to buy can order levlen canada ampicillin without subscription metformin without a perscription in us buy midamor 5 cefixime to buy in the canada without a prescription mirapex buy usa canadian drug company endep where to buy tetracycline with mastercard raciper spain geriforte medication overnight delivery list of tesco stores selling clozaril propranolol on line in the mexico motilium and breastfeeding dosage piracetam uk prescription maxalt suppliers overseas aspirin 81 mg ec tablets used for lioresal online uk ordering cilest uk order midamor from uk without prescription colchicina where to buy in canada list of high blood pressure medication names cost of levothroid without insurance over the counter alli diet pills wellbutrin discount program where to buy proscar mg triamcinolone acetonide cream 0.5 cefixime drugstore com pricing buy daily cialis online vipps antibiotics online from canada ciplox cheap india pharmacy purchase aciclovir 2 400mg online levitra professional with no prescription online cleocin purchase extendaquin uk online alli coupon walgreens free coupons cheapest aciphex confido delivery brand flomax online drug store health tablet cleocin without a prescription from us antivert for sale philippines amantadine 100mg for dogs atarax comprar hyzaar where to purchase tretinoin 0,05 shelf life buy l thyroxine usa going off synthroid side effects health canada starlix online no prescription uk for evista lotrisone roche precio argentina avandamet discounts where can i puchase lipotrexate buy tulasi online from usa generic tinidazole usa how to order sepibest online where to buy diuretic lasix zyprexa medicine online buy topamax 100 erythromycin generic usa proventil canadian online florida thyrohormone order zyban medication by mail usa prevented from ordering viagra from other countries buy calcium carbonate boots buying avalide in manchester acnetane without a script what is the generic drug for diovan cialis double dose where can i buy keppra dutas buy online uk where to buy orlistat ointment didronel uk online betnovate dosage recommended non persciption astelin buy geriforte without a prescription from canadian pharmacy acivir pills delivery uk buy delta cortef online overnight erythromycin stearate 500mg generic tadapox cost what is carbozyne drugs can you drink alcohol on erythromycin can we trust pulmicort online licensed pharmacy levothroid ranitidine buy online mexico online advair overnight delivery acheter elocon pas cher tegretol tablets price safe buy tenormin online cialis trial packs can i get pregnant taking provera generic oestrogel usa pharmacy kelnor without prescription pills where to get diarex pct buy cefixime pills in the mexico lithium shortage methotrexate over the counter usa getting trandate in australia where to buy keftab drugs online amoxil generic amoxicillin stromectol cost topamax 100 mg price quiero comprar diltiazem uroxatral rxlist geriforte cost dulcolax tablets side effects shatavari generic 2013 drugs metoclopramide to buy current price prazosin how to by nymphomax online acticin online shipping buying retin a 0 05 indocin on line for sale no script buy narcotics online canada western drug tretinoin 0 05 kamagra sale europe online remeron mg buy discount nolvadex otc minocycline purchase seroquel cheap australia pharmacy probalan on line for sale no script order sumycin online uk shoppers drug mart canada post jobs buy serpina online australia no prescription can i give my dog prednisone for itching minipress next day delivery why has vytorin been discontinued xenical orlistat precio en mexico mexican pharmacy no prescription phenamax indian pharmacy ginseng antivert 20mg tab how to order prograf viagra 25 mg how long does it last cytotec with paypal payment buying avandamet in manchester neo medrol in the us ampicilina canada overnight delivery zofran order online florida sertralina zofran price canada protonix over counter drug where do i fluconazol in uk qsymia fda approval letter best place to buy deltasone in canada imitrex mg canada noroxin mg india cialis commercial actors names buy periactin in australia nitrofurantoin online ordering usa buy albendazole without prescription purchase allegra cheap fexofenadine drugstore risperdal usa usa buy clomifene without prescription priligy buy online ireland viagra original online mastercard legal to buy terramycin obelit buy online uk propecia with no prescirption cheap genuine isoptin online western drug erection packs 2 diclofenac prices at costco buy benzac in usa cymbalta 40 mg pharmacy best generic dramamine sites viagra substitute over the counter usa where can i buy brahmin handbags mircette without rx can order permethrinum online how much will glucotrol cost how to buy promethazine in london buy flovent diskus 100 mcg does pfizers patent viagra expire artane women buy brand viagra 5mg tablets novo digoxin mg canadian rx on line pharmacies purchase diprolene in uk can you buy diclofenac atrovent for sale philippines lidocaine patches buy suhagra with order hyzaar on line india fexofenadine 180 mg cvs buying lamictal best place to buy stromectol eltroxin prices usa malaseb shampoo what is it used for prinivil canada prescription 100 milligrams of lexapro isoptin tablets uses does yasmin have a generic brand vigorex buy clozaril from canada buy quibron t online us no prescription detrol buy usa costco pharmacy danazol price how to purchase keflex danazol on line for sale no script side effects of effexor xr in men glucofage birth control online uk benfotiamine tablets price order lotensin online without rx order emsam from usa without prescription low dose naltrexone fibromyalgia estrace tablets for sale colchicine on line in the canada over counter voltaren buy tadalis sx with e check can you take fluconazol daily tegretol echeck buy chloromycetin no prescription vpxl italiano oracea noprescrition needed canada online pharmacy order amlodipin from uk without prescription prednisone for dogs side effects diarrhea ordering betnovate mexico inhalers for asthma brands names coreg discount coupons purchase zyvox in mexico chlamydia in men testing pill rx health order atarax products what are minocycline pills brand name urispas online tenormin mitis indication atacand over counter disulphiram tablets price cuanto cuestan las pastillas para abortar en argentina buy generic hyaluronic acid online can you get flomax clomiphene citrate side effects women eulexin online innopran xl sent to spain where can i buy testosterone patches online pharmacy one of the best drug stores atrovent dosage ems fluoxetine pills online in the mexico purchase beta val on line in mexico lioresal discontinued where can i get some arzomicin side effects of nexium in children probalan uk no prescription price of generic accutane what is the drug amitriptyline used to treat purchase azurette on line in canada glycomet order where to buy abortion pills in kenya brand advair diskus price aspirin online shipping buy female viagra online in the united states without a prescription get orlistatum las vegas buy carbozyne pills in the mexico best price for synthroid cafergot 1 100 what is promethazine hcl syrup buy metformin online thru paypals us online pharmacy no prescription cleocin world best online pharmacy reviews amitriptyline tablets what is it used for buy thyrox online amazon buy live chickens online over the counter drugs similar to hydrodiuril metformin generic price where to purchase viagra cheap ondansetrona dosage too high medco by mail order prescriptions order accuran online canada vasotec results forum purchase actos 30 mg antabuse tablet sale triamterene medication for legal to buy deltasone diflucan pills online in the mexico xenical in united states buy atomoxetin boots ophthacare for men in usa buy micardis tablets mexico entocort india purchasing zanaflex online anastrozolo usa no prescription purchase sominex in india purchase zovirax cream accuran medication overnight delivery what is liv 52 made of prescription prevacid 30 mg roxithromycin 150 mg tablet best pills to get a six pack ordering super active levitra viagra online digoxin free shipping can you only get nimotop on prescription singulair 40 mg pharmacy online aripiprazola purchase is there a drug comparative to ditropan metronidazol mg canadian rx glucophage common side effects buy cholestoplex online india crestor shopping where to buy lansoprazol discount olistat from canada discount thyrohormone otc lisinopril tablets on line to buy foreign pharmacy price for atorvastatin buying suhagra for dogs gyne lotrimin online order requip online no prescription with a echeck prozac overnight pharmacy walmart pharmacy refill status low cost overnight haldol where can i get retin a gel 0,1 pills kikisu supplement cheap generic azulfidine procardia comprare viagra soft from canada order viagra online in australia metformin glyburide dose requip buy online mexico cheap fasigyne no prescription minocycline nhs ordering altace in china what food is calcium carbonate found in imitrex injection max dose zebeta bonus pills wellbutrin sr drugstore com pricing over the counter medicine that acts as doxycycline stieva a pills online in the australia what is retin a 0,05 mg used to treat where can i get trental zocor order vpxl without prescrip cheapest danazol paypal cheap tretinoin no prescription best place to buy seroquel in australia cialis multiple times lotensin mg india online pharmacy no prescription retin a cheap generic retino a cream 0 05 cleocin gel medication overnight delivery cipro xr 500mg gonorrhea carafate pills online in the mexico viagra phone orders cephalexin canada drugs buy imuran australia haldol patient reviews ordering seroquel uk where can i buy betoptic suprax 100 30 ml suspension how long does it take for wellbutrin sr to start working can you purchase viagra over the counter uk prescription antibiotics for ear infection uk prednisone 20 mg side effects in dogs prednisolone now brand ceftin buy raquel allegra skelaxin delivered to your home cuckolding xeloda tablets price what does allegra drug histamine terbinafine tablets cost donde comprar stromectol can i order ashwagandha no prescription in the usa gabapentine where can i buy zovirax cost walmart pilex capsules buy tadacip online india aleve no prrescription generic plaquenil paypal chloramphenicol generic release date discount aviane 28 otc buy shuddha guggulu pills in the india singulair next day ciplox on line for sale no script what does cipralex clomid pregnancy statistics uk version of carafate generic from stromectol effexor xr to purchase without a prescription hydrodiuril over the counter drugs buy cephalexin tablets usa trental brand positioning bonnispaz online store best medication for severe anxiety and depression tadapox by mail how to buy adalat best place to buy klipal codeine in usa triamterene ordering online pharmacy anacin overnight pharmacy best price for real aleve order medazole on line india dark chocolate covered acai berries costco nutrition review best canadian pharmacies tadalafil 5 mg online buy trial erection packs 1 online canada no prescription nizagara overseas ondansetrona from australia detrol canadian medications without prescription usa buy pyridium without prescription buy amlodipin with no script discount disulphiram mg to buy mentat ds syrup in uk wellbutrin uk companies only lasix in the uk now fluconazol fast canada my duprost coupons where can i get riperdal canadian online pharmacy for flomax the chepest roxithromycin luvox discount code for promethazine low price levitra uk mail order generic bupropionum cleocin thailand elocon ointment for dogs licensed pharmacy calan buy ventolin 200 can we trust l thyroxine online lantus with no rx cytotec medication overnight delivery has anyone ever bought accutane online hoodia generic name endep online from india buy zyvox tablets uk buy trimox overseas voltaren gel sale cabaser mg buy motilium cheap us pharmacy buy benzac australia purchase priligy on line in canada tretinoin 0,025 over the counter canada colchicine dosage mims ordering atorlip 10 usa closest over counter medicine nexium pill rx health maxaman products where can i buy minocycline in canada buy clavamox online pharmacy genuine minomycin best price safe place order vermox is it safe to order diprosone where do i estradiol valerate in mexico best natural alternatives to viagra buy haridra perth australia cost of trial erection packs 3 without insurance buy microzide tablets uk cefadroxil 500mg and pregnancy endep free shipping yasmin australia cost where can i get ampicillin pills singulair granules instructions buy chloramphenicol for dogs z pack alcohol consumption what is flagyl 500 mg prescribed for valtrex online coupon taking zofran after expiration date canadian pharmacy nordette purchase evista in mexico diclofenac fast india tizanidina supplier in uk how to get off lipitor arimidex or tamoxifen steroids prevacid rx to otc switch buy bupron sr canada benfotiamine online coupon code zyrtec for dogs dose nexium generic reviews albendazole dose for tapeworm cheap generic finasteride where to buy zovirax with amex order aciclovir from mexico without prescription how to obtain nitroglycerin bioshock albendazole online uk what are the side effects of the drug cipro proventil pas cher italie cytotec discounts codes how much will glucovance cost c ratioph limited india what does dostinex treat doxycycline hyclate 100mg cap for acne glucophage 100mg buy hydroxyzine tablets vs capsules buy generic lamisil tablets lotrisone lotion over counter pravachol drug in mexico pharmacy where can i purchase cleocin order jellyfish from viagra online buy elocom with no script zovirax pills drugstore where could i buy naprosyn without prescription can you buy drug betapace online buy prinivil online from mexico retino a cream 0 025 roche precio argentina what is zetia for duprost non perscription countries viagra sublingual canada generic pill rosuvastatin 100mg tablet what is doxycycline capsules for best place to buy micronase online deltasone fast uk can we trust seroquel online zocor tablets comprar cilest portugal atacand tablets from buy discount brand amoxil from canada cephalexin ratiopharm 1000 mg wigraine on line in the usa buy rumalaya forte online from usa where to buy orlistatum online canada how long anafranil take to work cheap nazagara leukeran birth control online australia nootropil side effects long term use buy canada no prescription for carafate cipro 10 mg cost safe to buy generic keflex from canada is generic noroxin effective buy suprax online uk no prescription buy cyklokapron visa sildenafila where can i buy it buy phentermine hydrochloride 37.5 mg best site to buy finax crestor price in malaysia viagra alternatives in india best place to buy actonel online cheap aloprim mg what is zantac 75 used for caprysin pills buy online is there weight gain with effexor xr buy viagra soft online from canada purchasing beconase aq online buy cytotec astrailia medrol dose pack taper instructions took accutane acne came back over the counter buy avapro cialis viagra levitra sale buy birth control pills from canada tretinoin 0,05 no prescription needed glucofage cheap uk pharmacy lipitor generic name cost order accutane online from canada buy zebeta tablets australia evecare low dose birth control coversyl drug in mexico pharmacy buy prandin without prescription discount zyrtec of canada bupron tablets how to get alli where purchase janumet levitra plus pills online in the canada dyazide discount no prescription comprar cytoxan pela internet amaryl on line no script erexor billig kaufen priligy phone orders buy diovan no prescription fast delivery serta sertapedic box pletal canada head office caverta shelf life geriforte syrup online usa no prescription clopidogrelum from australia where do i buy accutane tadalafil online canada colospa with paypal payment viagra buy cheap buying roaccutan side effects of trazodone hcl 50mg where can i buy alli in canada weight loss order prednisolone overnight what is periostat 20 mg blue pill red pill matrix youtube buy dilantin online reviews buy atarax hong kong canadian online cheap buy cheap ivermectin diclofenac sodium side effects breastfeeding cheap generic sumycin long time side effects orlistatum revia generic release date pamelor drug classification list of tesco stores selling gasex ventolin inhaler spacer instructions order voltaren online no prescription with a echeck chloramphenicol online kaufen pastillas cytotec precio venezuela buy metronidazol online no prescription uk remeron online pharmacy uk online paxil prescription cytotec tablets on line to buy lloyds pharmacy tens machine digital pain reliever is it illegal to buy cialis online accutane causing long term depression mometasone furoate 0.1 soln abilify 5 mg depression prilosec medication stomach kamagra sale ireland generic lotensin hct tadalis sx online pharmacy uk viagra plus for men sale in uk buy crestor online from uk actos lawsuits filed esperal no prescription fedex ups buy online parlodel generic alli order by phone cleocin medication for acne reviews on synthroid atarax for purchase carafate 40mg buy online januvia generic what is the normal dose for celebrex drugstore no prescription needed buy minocin fast shipping france original levitra org shop withdrawal from seroquel depression post cycle therapy avapro aristocort buy canada prilosec otc long term usage order arjuna overnight como comprar eldepryl buy trial erection packs 3 online mexico no prescription comprar cefadroxil online quibron t to purchase without a prescription can i buy riperdal in canada etodolac pills online in the usa prilosec tablets 150 mg brand metrogel buy isoptin to buy adderall rx online retino a cream side effects uk stromectol generico italiano purchase keftab on line in uk buy indocin online amazon viagra vs cialis forum side effects of digoxin toxicity buy luvox online no prescription us is benemid legal in uk prazosin coupon code fast zebeta deleviery can you get pregnant while taking tamoxifen when will lexapro be generic available cheap aciclovir mg ordering alli online from canada side effects of celexa 20 mg online prescriptions from doctors australia buy lipothin pills in the australia thyroxine tablets fincar online bestellen best place buy acivir pills express scripts specialty pharmacy form online lipitor with no prescription l thyroxine australia companies only allopurinol is used for the treatment of gout to mercury drugstore philippines contact number long term side effects of danazol colchicine no prescription reviews us national board pharmacy what is baclofen mg used to treat singulair canada head office worldwide pharmacy liv arava tablets buy bupron pharmacy prices list remeron canada head office alternative medicines for bactrim indian pharmacy kamagra soft canada buy albuterol without prescription stieva a mg order thyrox drugstore.com zyprexa class action lawsuit 2012 where to buy quibron t with visa adalat buy no prescription phenamax pills online in the india metronidazol delivery buy lipothin usa buy zedd online with no prescription online sale of pravachol generic wigraine safe motilium 10 reviews baclofen without a prescription from canada usa buy lady era without prescription uk pharmacies online that sell frumil buy vytorin in singapore where to get liposafe pct is it safe to order cialis jelly salvent usa sale ordering aciphex uk over the counter medicine that acts as cardizem generic raciper buy canada buy haridra from india levitra plus by mail levitra coupon card drug dutasterid in croatia generic cialis uk sales cipralex 5mg tablets buy amitriptyline line pharmacies pill rx health order finpecia products order fluticanose from india without prescription high blood pressure medicine bystolic vytorin to buy in the uk without a prescription where to buy prozac without a prescription genuine retino a cream 0 025 best price voveran sr supplier in uk drug market order deltasone cefixime generic cheap costs what is amantadine made of where can i buy januvia mg zanaflex medication side effects where to buy viagra in calgary clincin online pharmacy uk mexican pharmacy no prescription aciclovir buy stromectol tablets usa prandin to buy order almetec from usa without prescription what is alli used for order mestinon cheap lioresal overnight order remeron 30 mg serevent diskus medication guide cost of diflucan 150 mg overseas pharmacy no prescription cefixime trusted pharmacy viagra online reviews tizanidinum with no subscription best price arimidex low albendazole infection how to buy bupropionum in london over the counter fucidin cream sumycin canadian medications without prescription where can i buy colzapan to buy isotretin what is the drug remeron used for indian femara walmart relion ventolin hfa inhaler tricor shopping purchase moduretic in canada what is clonidine used for off label diclofenaco normon 50 mg prospecto cheap cardizem usa voltaren without subscription viagra super active no prescription compare prices pct after anavar only cycle metoclopramide to purchase without a prescription oestrogel discount voucher lozol pharmacy prices list overnight singulair generic etabus for sale on line safe buy vpxl online buy duetact from india what is lasix medication real viagrano prescription where can i get some anafranil how to take ashwagandha leaves for weight loss does nolvadex make you gain weight finpecia online from canada comprar disulphiram portugal motrin comprare mircette buy online canada generic actos online legal buy mevacor online canada roxithromycin without prescription miami cheap trazodone buy online lady era legal us order non generic methotrexate ordering doxazosin usa mexico online pharmacy medications order olanzapine online canada comprar nitrofurantoin pela internet comprar cialis pagar paypal citalopram generico femara for fertility reviews where to buy lopid without a prescription pepto bismol aspirin allergy price increase mircette shallaki medication on line staxyn rocaltrol without script triderm cream wikipedia how to take flovent diskus pyridoxine isoniazid dose ventolin pills online in the usa depakote discount prices safe mentat no precription buy apo clopidogrel online from usa albendazole tablets for children what is kabana made out of purchase antara on line in canada buy metoclopramide have no prescription ordering misoprost mexico renagel no prescription overnight delivery order adderall online no rx orlistat uk reviews rhinocort generic name dyazide buy online uk buy zentel online in the united states without a prescription evecare from india canadian pharmacy zenegra safe otomax no precription prescription drug celebrex nsaids risperdal film tablet 1 mg 20 tb buy ortho cyclen online from canada buy bactrim uk chloromycetin overnight pharmacy cheap curacne mg brand name mentat ds syrup online buy biaxin generic buy brand indinavir top 10 online lopressor sites buy methotrexate online overnight canada drugs dramamine with prescription amantadine wanted online review where to buy eltroxin with echeck buy zitromax online reviews birth control pills chloroquine side effects of promethazine dm betoptic order canada crestor for dogs buy pletal over the couter order aciclovir on line canada order venlafaxina without prescription side effects of synthroid generic very cheap fml forte sustiva from usa pharmacy benzac 100mg bula dulcolax cost in canada levoxyl ingredients gluten buy leukeran next day can you order diakof online sirop zentel pret buy nexium online from australia kytril 50mg tablets discount pharmacy brisbane cbd eldepryl spain billig misoprost online kaufen where to get silagra pct ajanta pharma ltd aurangabad zyvox 400 mg cost indocin pas cher zebeta drugs online purchases can you take protonix 40 mg twice a day generic speman buy canada acheter pas cher coreg cost of mail lotrisone over the counter starlix cheap clonidine pills feldene shortage canadian pharmacy online klipal codeine penegra tablets review cefixime over counter uk chloromycetin next day buy voveran sr from india generic vs brand name propecia plavix walmart pharmacy cheap brand name atorlip 5 best online pharmacy generic famvir buy chloramphenicol online cheap rocaltrol pediatric dose what drug category is levothroid claravis cheap us pharmacy buy snovitra super power 100mg online metoclopramide non perscription countries revia buy mexico viagra sublingual direct pharmacy zertalin online canadian relafen without a prescription from india what is the medicine prednisolone for cheap genuine zestoretic online buy generic ceftin online no prescription discount elocon from usa order alesse without rx neo medrol for sale liposafe drugstore com pricing rythmol sr india pharmacy synthroid prix en pharmacie en france erexin v weight gain filagra super active how to get wellbutrin sr in australia unisom without rx ditropan without best place to buy doxazosin purchase arava online nordette no prescription recommended dosage for tamoxifen citrate buy caverta with no rx where purchase claravis online no prescription uk for ovral l purchase fasigyne in canada where to buy viagra from in uk torsemide shop net aciphex reviews endep mail order buy over the counter cefixime online trazodone dosage too high buy luvox 40 allegra d over the counter alternative key pred to buy in the canada without a prescription generic celebrex availability how much is amaryl tablets what is levlen drugs can you order alavert mg medication purchase disulfiramo on line in mexico aromasin nolvadex pct dosage mail order antivert carafate online from usa viagra original name gabapentine birth control online india bactrim overnight pharmacy tofranil pm prescribing information comprar haldol original trazodone 100 mg get you high selegiline uk azithromycin dosage for gonorrhea where to buy lipitor without a prescription ondansetrona pills sweat naprosyn uk brand name better than oxybutyninum l tryptophan for sale online pregnancy test calculator week by week arimidex legal uk betnovate to buy retin a gel 0,1 uses medication kamagra illegal in singapore levothyroxine weight gain forum dostinex buy online mexico fastest lexapro uk delivery where do i v gel in canada saw palmetto without prescription treating fish tank with tetracycline cytotec side effects labor induction abilify 2.5 mg safe and secure to buy allegra allergy clomid 100mg days 5 success stories order colospa from mexico without prescription lipothin medicine nootropil for sale usa alli orlistat 60 mg side effects retin a pill shortage trial erection packs 3 usa no prescription mirapex sale where do i vardenafilum in canada keppra good reviews como comprar bentyl is there a shortage of avapro aciphex 20 mg dosage mayo clinic clomid multiple births lexapro buy canada order parlodel online no prescription with a mastercard bupron next day delivery ordering low dose yagara mircette order online buy topamax tablets us long time side effects oxytrol escrow refills code line no prescription cheap levitra 5mg levaquin buy mexico online female cialis purchase how long does 100g of viagra last where could i buy female cialis without prescription periactin migraine reviews where to clonidine buy glucotrol online without prescription buy zantac pills in the canada dutasterid for sale philippines tamsulozin mail order viagra professional limited india paroxetine hcl 40 mg fluconazol shopping arimidex tablets for sale where can i get some allopurinol gyne lotrimin billig kaufen free or low cost ciplox citalopram results forum get buspar legal furosemide from europe beconase spray buy cheap bupropion online purchase duprost in canada arjuna costume purchase valaciclovir on line in india what does ivenox no prescription estro cipla pharmaceuticals generic metoclopramide switzerland purchase zantac in usa order deltasone from usa without prescription glucofage buy online mexico micronase prices cvs canadian pharmacy tinidazole grifulvin v online without prescription amantadine shelf life can you get retin a gel 0,1 himplasia tablets 40mg pilex to purchase without a prescription cheap exelon 1.5 mg india catapres without a prescription drinking on antibiotics can i pay by check on ebay emsam perth australia how much will lanoxin cost diprosone mg no prescription order amoxiline uk pharmacy diakof order by phone very cheap rogaine 5 accutane purchase online no prescription order levothroid uk pharmacy order dilantin on line uk buy atacand online at canada pharmacy canadian cialis buy online can you get hydrochlorothiazide over the counter allopurinol online store levoxyl pills buy online can you buy azurette purchase metformin lowest price bupropion sales women viagra wikipedia thuoc diltiazem 100mg boots promo code what benadryl is good for dogs order l tryptophan medication by mail are there any over the counter drugs to cure chlamydia purchase vantin cefixime online mexico generic cialis in the uk priligy to buy in the uk without a prescription no prescription super active plus levitra online pill vermox birth control online australia clopidogrel voltaren 100 mg supposte feldene discount no prescription buying propecia online safe brand amoxil drug in germany pharmacy why has desyrel been discontinued levothroid ships from india what does penegra order furosemide pill avalide fast canada brand advair diskus now avodart spain side effects voltaren tablets comprar mentat ds syrup original keppra without a prescription skelaxin tablets side effects can you buy clonidine online pharmacy generic nitroglycerin pills use get high where to buy amaryl online usa purchase carafate on line in usa can i make zofran cheap chloroquine no prescription is there a generic brand for diovan requip no prescription what is vardenafil hcl 10mg tab benzac rx baridium drug schedule ordering hydrodiuril canada buy starlix capsules suppliers of levaquin in us nolvadex online prescription order cialis soft tablets cialis kopen online celebrex online bestellen albendazole generico italiano rogaine 5 mail order etodolac pharmacy order buy vytorin usa viagra 25 mg no prescription order dipyridamole online no prescription with a echeck how to take promethazine pills rythmol sr mexico no prescription buy generic motilium online no prescription carafate 100mg cheep canadian drug company keflex buy ampicillin online australia no prescription how much is keflex tablets furosemide 40 mg used for cheap clomid 200mg places to buy celadrin kamagra ajanta pharma india do i need a prescription for haridra a good web page to buy wigraine with no script erectile dysfunction treatment injection cost craigslist manchester massage minocycline dosage for uti acquisto viagra in italia thyroxine online from usa buy acticin pills in the mexico buying nolvadex and clomid beta val birth control online uk famvir annual sales buy accutane low cheap price cost of flovent elocon over the counter usa zithromax with prescription estrace for sale uk buy erection packs 2 online in the united states without a prescription bactrim 480 mg dawkowanie cipro xr 500 mg dosage prozac and alcohol dangers buy cialis sublingual online in the united states without a prescription baclofen cims india ovral l prices cvs tadacip dosage too high prescription drug norvasc decadron 4mg online sale no cyproheptadine tablets buy cozaar 10 minocin usa no prescription non prescription drugsprednisone safe buy benzac online buying zofran order ciplox rx cheapest place to buy wigraine buy yasmin online uk no prescription doxazosin buy on line buy zyloprim pills free or low cost ditropan best erexin v prices styplon uk next day delivery buy bactrim ds no prescription online effect clomiphene citrate ovulation canada drugs erythromycin with prescription duprost over counter zanaflex dosage instructions buy wigraine pills in the uk legal buy erection packs 2 online canada canada tizanidinum tablets online 6 mercaptopurine ulcerative colitis side effects can i buy cialis in canada order luvox medication by mail donde puedo comprar himcolin janumet online bestellen blopress on line in the usa retail cost of crestor buy genuine colchicine uk does pyridium help interstitial cystitis getting alphagan in australia plendil 40mg tadalis sx drug in uk pharmacy anti alcohol medication antabuse can you buy carvedilolo in ireland methotrexate shortage pill form what does flonase sneezing corticosteroid trandate australia pharmacy keppra generic versus brand lotrisone without viagra with dapoxetine reviews how much is cialis with insurance order risperdal pills best site get coumadin order medrol medication by mail femcare online usa triamterenum coupon code lantus solostar needles free generic zantac zantac 150mg how much does lexapro cost in ireland cymbalta mail order pfiser generic hydrochlorothiazide losartan order promethazine codeine syrup without prescription purchase zetia cheap tretinoin 0,05 pills online in the uk zocor australia companies only can i take 30mg of cialis calcium carbonate chewable tablets formulation online femcare india buy levothroid discount comprar nootropil original safe to buy generic tricor from usa fasigyn shoppers drug mart prednisolone 100mg cheep haldol pharmacy prices list donde puedo comprar voltaren ginseng canada prescription canada buy microzide without prescription ordering cefadroxil mexico where do i micardis in india discount pilex from usa rosuvastatin calcium suppliers in india where to buy tofranil online uk dostinex legal in england brand viagra plus buy how to buy real cialis online teva pharmaceuticals protonix acai verde in italia dramamine mexico companies only dilantin shortage 2012 online generic sominex legal buy zofran online canada get trimox toronto inderal australia price atorlip 10 with paypal payment pharmacy has best price clincin prednisolone for dogs to buy uk why has vistaril been discontinued can you buy vasotec online online actos purchase what is hydrochlorothiazide made of exelon corp stock price cheap pharmacy online nz buy hiking boots online ireland ciplox results forum cialis rezeptfrei mit mastercard zebeta uk online purchase celexa mg salbumol cheap uk pharmacy order zofran on line india proventil prices usa how to purchase atacand online purchase trandate on line in canada bystolic prescriptions where to buy eldepryl online canada glucotrol xl online cheap wellbutrin generic price biaxin drug in fr pharmacy where can i buy zyvox tablets ciprofloxacino 500 mg dose viagra pfizer kaufen what class of medication is singulair order generic viagra jelly pharmacy 365 kamagra safe buy amoxicilina online metoclopramide buy saw palmetto oil lamisil foot cream reviews buy desyrel tablets over the counter minocycline capsules zyprexa velotab 5 mg orodispersible tablets cheap prescription buy zyprexa online how much clomid do i take post cycle testosterone therapy before and after pictures buying lithium in manchester accutane online mexico buyers of betnovate canada generic zithromax buy canada ceftin generic canada can you buy hydrochlorothiazide online discount elocon online bestellen best place to buy ponstel in india buy soma no prescription overnight buy keppra with a mastercard cheap meds canada is atrovent legal in uk diamox tablets side effects femara without a script how to buy serophene in canada discount valaciclovir of canada new celebrex commercial sildenafila pharmacy mail order hyzaar buy online uk how long asacol take to work fml forte online coupon code buyers of advair diskus canada ordering lozol india purchase diclofenac gel mg atarax 25mg tabs buy canada no prescription for hoodia retin a micro gel vs pump propecia drugs test tadacip from mexico canadian online pharmacies legitimate order reminyl mexitil to buy in the canada without a prescription what is albendazole suspension used for order januvia online no prescription with a mastercard rosuvastatin to buy mexican pharmacy no prescription lopressor how to buy quetiapinum in canada is it legal to buy viagra on craigslist mexican pharmacy online hydrocodone buy colchicina tablets uk canadian pharmacy vipps approved zetia 100mg cheap celexa weight gain 2012 zedd online in us generic effexor price buy generic benfotiamine online prevacid prescription strength buy retino a cream new zealand online ultra low dose viagra sublingual buy prozac online safely metronidazol prices at costco health canada promethazine best place to buy tetracycline in usa innopran xl generic name canadian online pharmacy complaints where to betnovate trazodone reviews weight dramamine tablets uk etodolac online in uk allegra tepper usa today celebrex price cvs buy levothyroid without rx med cab famvir caffeine ergotamine fast uk anastrozolo online pharmacy uk claravis online from uk best otc erection pill chinese herbal medicine for abortion alli orlistat boots order medrol dosepak online mirapex drug canadian pharmacy diclofenaco sodico vademecum de la a a la z citalopram 20mg tablets used zertalin italiano lipothin overnight discount drugstore australia order cialis on line canada purchase alti doxycycline in canada diprolene cheap us pharmacy best price for real lasix imitrex coupons online what are some household pills that will get you high who makes generic lexapro over the counter antibiotic eye drops for pink eye buy zyrtec with no rx canada buy serpina without prescription ed drugs online suppliers singulair prices australia order yasmin no rx canadian pharmacy what is flucazole made of purchasing stediril online uk fish cycline forte tetracycline 500mg 100 capsules sepibest over counter uk minomycin in canada meloxicam and ibuprofen drug interaction online pharmacy stediril current price fluoxetine oestrogel india sale buy cialis jelly pills in the canada canadian medazole canada hytrin tablets online zyprexa prices at costco lamictal how to buy provera india sale meclizine women buy cheap generic calcium carbonate low cost overnight zyprexa purchase cipro canada roxithromycin paypal isotretin without a script where to buy almetec what are the side effects of yasmin birth control pills long time side effects sustiva duphalac pills buy purchase raciper mg can i order fasigyn online duphalac drug in canada pharmacy lowest priced apcalis sx where can i buy aspirin in canada how much will zerit cost buy snovitra super power hong kong can i make raloxifeno the chepest erection packs 1 exelon cheap australia pharmacy aciphex with american express bactrim forte precio mexico combination of irbesartan and hydrochlorothiazide benzac online cephalexin generic australia lamisil tablets price cozaar hyzaar wiki zenegra sale cheap pills duetact australia what are the symptoms of anxiety cialis kopen amsterdam generic elavil canada prazosin generico italiano indian pharmacy doksazosin lek side effects of zocor and grapefruit order benadryl rx order micronase online uk canada and cilest uses for bactrim ds tablets floxin direct pharmacy cheap generic tricor prednisone raw material shortage imitrex on line in the mexico buy amantadine online uk no prescription buy bactroban over counter combien coute le medicament alli en pharmacie best place to buy metoclopramide in usa buy tadacip mg online
Home Biz of Baseball - Interviews The Economics of Sports: An Interview with Roger Noll

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 1230 guests online

Atom RSS

The Economics of Sports: An Interview with Roger Noll PDF Print E-mail
User Rating: / 33
PoorBest 
Written by Pete Toms   
Monday, 23 November 2009 00:00

Roger NollThe biggest story in all of sports (and beyond) over the last year and a half has been the influence of the economy on sports properties. The NFL, NBA, NHL, and Major League Baseball have not been impervious to the lashings that every sector in business has taken, and that has trickled down the fan, who has had to decide whether to attend games, or save their money.

With the recession playing such a key role in professional sports, sports economics has moved from the background to front page news.

Roger Noll, professor of economics emeritus at Stanford University and a Senior Fellow at the Stanford Institute for Economic Policy Research, has been one to have their pulse on economics, including sports.

He’s been the author or co-author of twelve books and over three hundred articles and reviews. His primary research interests include technology policy; antitrust, regulation and privatization policies in both advanced and developing economies; the economic approach to public law (administrative law, the judiciary, and statutory interpretation); and yes, the economics of sports and entertainment.

Staff author Pete Toms caught up with Noll recently for a broad ranging interview that runs from leagues as a single entity; competitive balance in MLB after the Yankees winning the World Series, which includes his takes on salary caps in U.S. pro sports; possible relocation of franchises ranging from the Athletics to the Niners; the debate over public subsidies for stadium development; and much more – Maury Brown

Select Read More for the interview with Roger Noll

Pete Toms for the Business of Sports Network: You are amongst a group of sports economists who recently filed an Amicus Curiae brief with the Supreme Court in American Needle. At stake in this case is the status of professional sports leagues as single entities. This same issue was at the core of Jim Balsille's recently failed attempt to purchase and relocate the Phoenix Coyotes without the permission of the NHL. Why are you and the other sports economists opposed to single entity status for these leagues? Why did the NFL ask the Supreme Court to rule on this matter when the lower courts had already sided with them? Why should sports fans be interested in this case? If the Supreme Court rules that single entity status does not extend into the realm of labor relations (as has been speculated), is the case of less importance? Would you care to handicap the outcome?

Roger Noll: The opposition to single entity status is partly that leagues are not "single entities" (organizations that have a unity of purpose) and partly that leagues should not be exempt from any specific antitrust complaint without having to prove that centralizing decisions in the league is more efficient than decentralizing them with teams, given that the former eliminates competition.

The NFL did not appeal the decision -- American Needle appealed. When they did, the NFL sought to broaden the case. Having been found to be a single entity with respect to licensing caps that bear team logos, they seek to be declared a single entity with respect to everything. Obviously this would be a great result for the NFL as it would reverse fifty years of adverse antitrust decisions.

Sports fans should be interested because the outcome will affect whether players can be free agents or the conditions under which the NFL (or any other league) can control the location of teams.

The narrower the decision of the Supreme Court, the less important is the case. I don't think team logo caps are a very big deal, although even here I do not think that the courts were correct in exempting the NFL from having to prove that their joint licensing arrangement was efficient and did not harm consumers.

I do not handicap the Supreme Court.

Toms: The World Series victory of the New York Yankees has baseball's chattering classes in an uproar over the state of competitive balance in MLB. Ostensibly (according to some), MLB has increased revenue sharing and implemented a competitive balance tax (aka the luxury tax) in their efforts to achieve greater on field parity. Some Sports Economists argue that the real purpose of these initiatives is to suppress player compensation. The same proponents of this argument believe that these same league policies contribute nothing to competitive balance (this argument is presented in the aforementioned brief submitted to The Supreme Court in American Needle). Can you explain this logic to baseball fans in Pittsburgh and Kansas City who believe that the key to fielding competitive teams in their markets is some combination of a salary cap/floor, increased revenue sharing, more punitive payroll taxes etc.?

Noll quoteNoll: The only way to have equally balanced teams is to ban trades and sales of players and to have periodic drafts of managers, coaches and directors of player personnel. The methods that leagues use to create balance have been shown to have little or no effect on the distribution of quality among teams. The logic behind it is that it is not in the interests of owners as well as players to have balanced competition. If all teams were of the same strength, total league revenues would go up if the best player in KC were traded for the worst player in NYC. In a regime of salary caps and no free agency, the KC owner will be richer if he sells his underpaid star to NY.

Check out last year's NHL standings. The NHL has the toughest salary cap in all sports. Was the league more balanced (e.g., the gap between the best and worst teams in W-L records) smaller than before the cap was established? The NHL cap reduced payrolls, but even if the payroll were zero in the poorest drawing markets, those teams would still lose money.

Toms: Is the era of the salary cap in US pro sports nearing its end? There is much conjecture that many NFL owners (both large and small market) would prefer to operate without a salary cap/floor. Increasingly, NFL teams are finding ways to circumvent both the cap and the floor, contributing to greater on field competitive imbalance this season. The NHL forewent an entire season in their successful battle with the NHLPA to implement a salary cap. Many NHL observers argue that the cap in the NHL has caused more problems than it has resolved. Sun Belt franchises have incurred large payroll increases as the salary floor has risen, meanwhile the revenues of these franchises haven' kept pace. The salary cap has historically been favored by owners because it limits player compensation yet the only uncapped league - MLB - is paying out the smallest percentage of league revenues to its players. With the CBAs in all the sick and ball leagues potentially expiring in 2011, are salary caps on the way out?

Noll: You misread the NFL. They are willing to let the current CBA expire and have one uncapped year in return for imposing on the players the old system (no free agency, no agents) -- if the Supreme Court declares them to be a single entity. The players would never agree to a CBA that eliminates free agency, so enduring an uncapped year and imposing it is the only option available to the owners.

The MLB comparison is not quite right because it does not take into account the amounts MLB pays to support minor league teams.

Obviously, if leagues are single entities, they do not need a CBA and can impose restrictions on players that vastly reduce their salaries. A cap is not important in this regime. But I doubt that this will happen.

Toms: If economics is fundamentally the study of how markets allocate resources, what impact will the expansion of the amateur draft internationally have on the player/labour market? Some argue that the introduction of the draft to Puerto Rico has directly resulted in a diminished number of players being recruited from that country. Those same people are concerned that the introduction of a player draft to the Dominican Republic will have the same effect. There is also an argument that a draft in Latin America will not result in lower player acquisition costs for MLB, that in fact, the present buscone system is very efficient. Assuming that MLB successfully negotiates these changes with the MLBPA in the next CBA negotiations, what long term effects do you foresee?

Noll: I do not think that this is terribly important. A few foreign players will be drafted high, but the rest will not, and after the first few rounds draft picks are not paid very much, just as most teenagers signed from the Caribbean are not paid very much. I see no reason to believe that many fewer will be signed -- and even if that happens, it will not matter very much because the vast majority of foreign minor leaguers never make the majors.

Toms: On the subject of revenue-sharing in MLB. In 2007 you told The Biz of Baseball, "Under the old agreement, teams in low-revenue markets were rewarded financially for making their teams weaker." MLB attempted to address that problem by changing the revenue sharing marginal tax rates in the current CBA. Have those changes resulted in greater incentives for small revenue franchises to field competitive teams? On the same subject, Commissioner Selig is sometimes criticized for not disciplining clubs that do not invest all of their revenue sharing proceeds in their on the field product. (I.E. Their revenue sharing receipts exceed their big league payroll). Is that a fair criticism?

Noll quoteNoll: The new revenue sharing formula is much better in giving teams more incentive to win. And as for the "criticism" by the Commissioner, it has no effect. The point is that paying a lot for players is a losing proposition in several markets. As witnessed by salary floors in other sports, forcing people to spend money does not really do very much.

Toms: Are there any US markets without MLB capable of supporting a franchise? Put another way, can Tampa Bay or Oakland make a credible argument that if they don't get public cooperation in constructing a new baseball stadium that they will relocate their franchise? What would have to happen before a third or fourth MLB franchise set up shop in New Jersey or Brooklyn? Does this bring us back to the significance of American Needle?

Noll: Yes, there are markets where teams would succeed if given a free stadium, and the threat to move is credible. Even in the NHL, the threat to move is credible if the league would let Sunbelt teams move to Canada. To get another team in NYC requires bribing the Yankees and the Mets, just as the Mets bribed the Yankees to let them in when the Mets were created. The status of franchise location antitrust in MLB is uncertain – there has never been a case that was litigated to completion. Thus, American Needle may not be important for MLB.

But more generally, the two Raiders cases do say that leagues cannot block relocation just to protect the team that is already there from competition. If the NFL wins its argument before the Supreme Court, the Raiders decision will be reversed.

Toms: At present, the MLBPA does not share in the wealth generated by MLBAM. Maury Brown and Jayson Stark, amongst others, have speculated that at some point the MLBPA will request that this changes. Also, this year saw MLB launch the MLBN, where again the players do not share in the profits. Both media enterprises are considered very successful by the sports business pundits. MLBAM was rumoured to be valued in excess of $2 billion in 2005 by Goldman Sachs when an IPO was reportedly under consideration. MLBN, at inception, launched into 50 million homes. (A record amount for a new cable channel.) How important are these media companies to the overall financial health of MLB and do you foresee the players asking to share in the profits soon?

Noll: The players do share -- if team revenues go up, so do salaries. I do not think that MLBPA should given this much priority. Anything that increases revenues will be good for the players.

I also suspect that league-controlled new media entities are likely to be a bad idea. Leagues do not generally do a good job running them. Remember the Baseball Network? They could make more money licensing it to someone else.

Toms: MLB attendance declined approximately 7% in 2009 from 2008. Twenty-two of 30 franchises reported a decline in attendance. There was also widespread ticket discounting and sponsorship revenues were under pressure due to the recession and the collapse of the banking and auto sectors (traditionally the two most important sponsorship categories). At the same time, MLB COO Bob DuPuy has stated that revenues were flat in 2009. Are the reported flat revenues a sole result of the increased dollars generated by the two new ballparks in NYC or are there other factors?

Noll quoteNoll: I have not seen a breakdown of the revenues, so I do not really know the answer. But in-stadium revenues are less than half of all revenues, and TV audiences are up (which happens in a recession).

I am not sure that "price discounts" are the full story. If the discounts are off of higher prices, the net effect could even be positive. Economists have always wondered why pro sports teams do not engage in more price variability than they do. It makes sense economically to have the sticker price be the price that is appropriate for the weekend, and to offer discounts for week days, especially if the opposition is weak.

Toms: Credible media sources (including Liz Mullen at The SportsBusiness Journal) have reported that the NFL has presented a proposal to the NFLPA which includes expense credits that owners will deduct from revenues that determine the amount of the salary cap. The owners have contended all along that their principal problem with the current CBA is that the players do not share in the risk and costs associated with constructing new stadiums. The same proposal includes a rookie wage scale, as opposed to the current rookie cap. Both sides are refusing to comment on the media reports, fuelling speculation that the proposal is under serious consideration. Do you see this proposal forming the foundation of a new agreement? Why is a rookie compensation a labor issue in both the NFL and MLB? Will the NFL and the NFLPA agree to a CBA before March and avoid the much talked about uncapped 2010?

Noll: I have no idea what is going on in the NFL-NFLPA bargaining. The "expense credit" idea is just another way to cut salaries. I doubt that this makes much sense because of the differences among teams in the expenses that they could deduct. Tighter controls on wages for drafted players are much more likely because that does not hurt existing NFLPA members. And the reason that rookies salaries are on the agenda is that wages are a mandatory issue for bargaining -- if either side wants to discuss them, the other side is required to engage.

Finally, I have no insight about whether a CBA will be agreed by March, but I have strong doubts. If the NFLPA believes that it must settle for a bad deal, it will wait to get one good year out of it.

Toms: I put together a piece for The Biz of Baseball in March entitled Sports Marketing is the Recession's New Whipping Boy. The political and populist backlash against corporate sponsorship of professional sports (particularly against banks that received TARP money) was severe. CitiBank and the Mets were reviled in the NY press for their naming rights deal. At the last minute, BofA backed out of a major sponsorship deal for the new Yankee Stadium. Barney Frank expressed outrage in a series of interviews and TV appearances. The PGA suffered. Jerry Jones opened his new football stadium without a naming rights deal. There are countless other examples. Recently there are reports that sports marketing dollars are rebounding. Do you see that trend in your research? Will the sports marketing dollars return in the same levels previous to the financial meltdown or has there been a more permanent shift?

Noll: I do not know whether sponsorship revenues and other revenues from corporations have started to rebound, but I see no reason to believe that they will not rebound as soon as executives believe that the recession is over.

Toms: Many sports economists (including yourself) have long been vocal in their opposition to investment of public dollars in stadiums/arenas constructed to house professional sports teams. I sense that there has been a shift in public attitudes towards these initiatives, that more and more people agree that the economic benefits promised by proponents of these projects are false. In turn, we have seen a change in the tactics of stadium proponents, where arenas/stadiums are promoted as the key component in urban renewal projects aka entertainment districts. Governments and developers have also become more sophisticated in how they funnel public money into these projects, often now via financing. (I.E. Tax Increment Financing aka TIFs and Payments in Lieu of Taxes aka PILOTS) What does your data reveal, as a percentage, is there less public money being invested in these projects as opposed to 10 or 20 years ago? Do you think the Sports Economists have had an impact in influencing public policy in this area?

Noll quoteNoll: Yes, public subsidies of sports teams are declining. Yes, sports economics research probably has had some effect. But, the bigger effect is that state and local governments are on the verge of bankruptcy. Look for some revival in subsidies in a couple of years.

Toms: A hot topic in the baseball media has been collusion. Michael Weiner has been making some thinly veiled and very public allusions on the matter. Those who argue that there is evidence of collusion claim that the diminished demand for free agent players precedes the recession by a couple of seasons. These same people will point to stable (and historically high) industry revenues. On the other side is the argument that there has been a fundamental change in how the management of the clubs values veteran talent. The rationale being that the now industry wide emphasis on objective analysis has resulted in less demand for veterans and increased demand for young players. As well, there is a belief that veteran players are less productive in the latter stages of their careers in the post steroids era. Do you see any evidence of collusion in the MLB free agent market the past handful of seasons? Whether there is, or isn't, collusion, what are the chances that the MLBPA could successfully argue their position before an arbitrator?

Noll: I would need to see the books of the teams to know whether collusion is plausible. The alternative explanations need to be tested using real data on salary budgets, revenues, and other costs. The speculation that career are shorter due to steroids is clearly not true, but the notion that teams have over-valued older players in the free agent market may be true -- but research has not yet proved it.

Toms: Being a resident of the Golden State, please give us a California sports business update. There is a lot of speculation that Ed Roski will attract an NFL franchise to the City of Industry. (a suburb of Los Angeles) All three California NFL clubs are agitating for new stadiums, with Santa Clara courting the 49ers. Is the NFL coming to the City of Industry and if so, will it be a franchise currently in the state or one from outside? Might the Raiders and 49ers have to agree to share a stadium in order to see a new one constructed? What is the future of the Chargers? Are the Oakland A's moving to San Jose? Why has California been largely absent (SF has AT&T park but it was mostly privately financed) from the nationwide trend of new stadium construction?

Noll: I think it is doubtful that Santa Clara will approve a stadium for the 49ers -- could happen, but probably won't. I also do not think the Raiders are likely to get a new stadium anywhere in the Bay Area because they have become unpopular as an organization. And I doubt that the two teams will share a stadium because they probably would prefer to move.

[City of] Industry is a better chance, although the legal challenges will drag on for a long time.

The A's are more likely to move to San Jose than the 49ers to Santa Clara. But they still must bribe the Giants for the territory. Politically San Jose is more favorable for a stadium subsidy, but it will still be a fight.

California is not "absent" from stadiums -- remember the financial disaster that is San Diego? The important point is that in the Bay Area and LA, voters have been rejecting these things fairly regularly. We will see how long this lasts, but the 2006 votes in Pasadena and Sacramento were before the recession hit.

Toms: At the Baseball Winter Meetings, the fate of Marvin Miller's candidacy for the Hall of Fame is up again, and the media has been discussing it (see Maury Brown’s take). There is agreement that Mr. Miller had a seismic impact on MLB but there is debate about the worthiness of the changes he fought for. From a fan perspective, was Marvin Miller a positive force in MLB?

Noll quoteNoll: First, I am not sure that the appropriate criterion is whether Marvin benefited fans. Once one goes beyond players and managers (where the issue is playing field success), the criteria should include owners, players, and the business side of the sport.

Beyond this, Marvin Miller is a giant in the history of baseball. He is responsible for the existence of a strong union and thereby the existence of free agency. One cannot imagine writing a history of baseball in the second half of the 20th Century in which he would not play a central role. And the argument that he caused damage to the sport is obviously false -- all of the predictions of disaster at the time of the McNally-Messersmith case have been proven by time to be false. Most of the complaints about the way that baseball was affected by transferring more power to the players are based on false premises about how the business side of baseball works. Of course, some owners would be a lot richer if baseball's institutions were the same now as they were in 1965.

Keeping him out of the Hall of Fame for this reason would be a travesty.


  • Interview conducted by Pete Toms
  • Editied by Maury Brown


OTHER NEWS FROM THE BUSINESS OF SPORTS NETWORK

(THE BIZ OF FOOTBALL)

(THE BIZ OF HOCKEY)

(THE BIZ OF BASKETBALL)

(SPORTS BASH)


Pete Toms is an author for the Business of Sports Network, most notably, The Biz of Baseball. He looks forward to your comments and can be contacted through The Biz of Baseball.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?