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Major League Baseball proposed limiting most free agent contracts to five years and 15% of a team’s salary cap and to eliminate deferred compensation, fleshing out additional details of a salary cap plan likely to spark a confrontation with the players’ association.
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During a bargaining session Thursday at the union’s office, MLB said it would accept the union’s proposal granting free agency a year early for players who have reached age 30 as part of a salary cap system. MLB also proposed boosting the minimum salary from $780,000 to $1 million for those with two years of big league service.
MLB also proposed increasing the pre-arbitration bonus pool from $50 million to $65 million next year and $75 million by 2032, the sixth season of MLB’s proposed seven-year deal.
MLB also said it would agree to eliminate the qualifying offer for free agents that has restricted the market for some players.
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Bargaining started May 13 for a contract to replace the five-year deal that expires Dec. 1, and owners proposed a salary cap for the first time since the union fought off the system during a 7 1/2-month strike in 1994-95. MLB is expected to impose a lockout in December, halting free agent signings and trades.
After the prior agreement expired in December 2021, intensive bargaining did not start until late February as the threat approached of losing regular-season games — along with revenue and salary. The sides reached an agreement on March 10, the 99th day of the lockout, preserving the 162-game schedule.
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AP MLB: https://apnews.com/hub/mlb