Source: Baseball owners, players reach labor deal

Baseball players and owners reached a tentative agreement on a five-year labor contract Wednesday night, a deal that extends the sport's industrial peace to 26 years since the ruinous fights in the first two decades of free agency.
 
After days of near round-the-clock talks, negotiators reached a verbal agreement about 3 1/2 hours before the expiration of the current pact. Then they worked to draft a memorandum of understanding, which must be ratified by both sides.
 
As part of the deal, the luxury tax threshold rises from $189 million to $195 million next year, $197 million in 2018, $206 million in 2019, $209 million in 2020 and $210 million in 2021, a person familiar with the agreement told The Associated Press.
 
The person spoke on condition of anonymity because the deal had not yet been signed.
 

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment