The In the News article titled "Free Agents in Sports: A Threat to Monopsony" states,"Individual players were permitted to negotiate with only one team." The reserve clause in player contracts gave franchise owners in the labor market essentially

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The reserve clause in player contracts gave franchise owners a monopsony in the labor market, as it allowed them to be the sole buyer of players' services. This limited the bargaining power of individual players and kept their salaries artificially low.

The in the News Article Titled "Free Agents in Sports