One can push an analogy too far and I've already crossed that line but let's keep going.
- Baseball players are initially tied to a certain team though after a certain number of years they can become a free agent or prevent their team from trading them. Professors can become free agents after any year and after seven years, if they are still with the department, get a no-fire clause.
- Baseball teams have minor leagues to train young players. We have graduate students.
- Baseball has had a strong commissioner who mediates disputes and can make changes for the good of the game. We could use someone like that.
- Baseball sells naming rights of its stadiums. Universities sell naming rights of their buildings.
- Baseball has a hall of fame honoring the very best. We have the Turing award. But like baseball we could also have a physical location with memorabilia like the original draft of Cook's paper or the chalk Manindra Agrawal used to prove Primes in P with his students.
- Baseball teams trade players. Imagine David Karger and Madhu Sudan for Umesh Vazirani, Luca Trevisan and a grad student to be named later.