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MLB Industry Growth Fund
is a pool of money collected by Major League Baseball
Major League Baseball is the highest level of professional baseball in the United States and Canada, consisting of teams that play in the National League and the American League...
. The purpose of the Industry Growth Fund (IGF) is, essentially, to promote Major League Baseball. Specifically, there are three goals; to enhance fan interest in the game, to increase baseball
Baseball is a bat-and-ball sport played between two teams of nine players each. The aim is to score runs by hitting a thrown ball with a bat and touching a series of four bases arranged at the corners of a ninety-foot diamond...
's popularity, and to ensure industry growth in to the 21st century. It was created as part of the Major League Baseball (MLB) Collective Bargaining Agreement
Collective bargaining is a process of negotiations between employers and the representatives of a unit of employees aimed at reaching agreements that regulate working conditions...
(CBA) in 1997.
The IGF is managed by a seven member board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. The board of directors meets in person at least three times per year.
Funding for the IGF comes, primarily, from the MLB Competitive Balance Tax. Additional funds may also come from the Major League Baseball Players Association
The Major League Baseball Players Association is the union of professional major-league baseball players.-History of MLBPA:The MLBPA was not the first attempt to unionize baseball players...
(MLBPA) or the individual baseball clubs.