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. A monopsony is a market situation where there is only one buyer (in this case, the franchise owners) for a particular good or service (in this case, the players' labor), giving the buyer significant bargaining power to set wages and employment conditions. The fact that individual players were only allowed to negotiate with one team further strengthened the monopsony power of the franchise owners.

The in the News Article Titled "Free Agents in Sports