MLB legend Larkin: Player contracts make no sense

MLB legend Larkin: Player contracts make no sense

Hall-of-Fame player Barry Larkin, a former shortstop for the Cincinnati Reds said current Major League Baseball contracts are out of line.

"The length of the contract is the real thing most people are concerned with," Larkin told CNBC. Now an instructor in the Reds minor league system, Larkin stopped short of saying players were being paid too much on an annual basis.

"Whatever the money is, that's just the based on how well the game is doing. So the players should have part of that." He focused specifically on contract length, and hoped that the next collective bargaining agreement would find a way of fixing that.

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"You see eight-, 10-year contracts," he said. "And if you don't give it to somebody for the 10 years, then maybe this team X will give it to them for 10 years."

Baseball's collective bargaining agreement between ownership and players runs out at the end of next season, and some of the buzz at the All-Star Game centered around what changes might come in the new CBA.

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"The baseball and sporting industry is making a lot, a lot of money. So let's continue to let it flow, and let the players partake in it."

Larkin was present at the All-Star-Game festivities to speak on behalf of Maytag, MLB's newest sponsor.

The 12-time All-Star and nine-time Silver Slugger, says a lot has changed since his playing days, including the use of data and sabermetrics.

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"It's kind of a clash of the titans," Larkin said. "I believe we should rely on the baseball more—and then the numbers will support that."

Larkin's playing days may be long over but the 51-year-old will be the grand marshal of the MLB All-Star parade on Tuesday. With 26 first-time All Stars this year, Larkin was taken aback by the influx of new talent.

"The game is faster—there's so much more power," said Larkin. "When you put all those things together, it just ekes young, athletic."