In the final hours before the prior collective bargaining agreement’s expiration, Major League Baseball and its players’ union reached a tentative labor agreement. The agreement just narrowly avoided a potential work stoppage and marks 26 years of labor cooperation in the league. The new agreement should extend that peace another give years, until 2021.
The agreement hinged upon a raised threshold of the specified payroll limit. This “luxury tax” was a penalty on teams that went over the threshold. According to players the cap was …
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