Is there a salary cap in baseball?

[raza]

I don't follow baseball, but on Sportscenter and other sports shows, I've been hearing about the Yankees getting all these big names and great players. Is there a salary cap or something to stop this, or can any team sign any player for any amount of money?

The Yankees are starting to become like an NBA team with this as a lineup:

PG - Allen Iverson
SG - Kobe Bryant
SF - Lebron James
PF - Kevin Garnett
C - Tim Duncan

 

[CC Is A Yankee!]

no. haha.
thats why the YANKS got CC, Tex and AJ

 

[Little Dustin]

No there is not, but people want there to be for some reason.

 

[Ralphied]

there is no salary cap...nor will there probaly ever be because the players union runs the show...but there is a luxury tax but basically only the yankees pay that because they obviously spend the most