NEW YORK (AP) — Major League Baseball’s average salary has shot up to more than $3.8 million following the steepest rise since 2001.

According to final figures from the players’ association, the increase put big leaguers on track to top the $4 million barrier for the first time next year.

The union said Tuesday the 910 players on big league rosters and disabled lists as of Aug. 31 averaged $3,818,923. The 12.78 percent hike was the biggest since a 12.83 percent rise from 2000 to 2001.

Player salaries are increasing after several years of more modest increases. The gain is fueled by record revenue in the $9 billion range, much of it from national TV contracts and regional sports networks.

The average topped $1 million for the first time in 1992, crossed the $2 million barrier in 2001 and the $3 million mark in 2010.