MLB players, owners in new 5-yr agreementDec 1, 2016 - 3:54 AM Major League Baseball has ensured five more years of labor peace by reaching agreement with the Players' Association on a new collective bargaining agreement (CBA) that runs through to 2021, the MLB's official website is reporting.
The previous CBA was to expire on December 1 and a failure to reach a new agreement would have marked at least the temporary end of uninterrupted labor peace since the disruptive players' strike of 1994.
Neither side had yet publicly confirmed a new agreement but representatives from both camps emerged visibly pleased and shook hands in public view from their Irving, Texas, negotiations on Wednesday, nearly four hours before the deadline.
Players and owners had until midnight to reach a deal. After that, both sides would have had to agree to an extension or the owners could have imposed a lockout that would have frozen trades and free-agent signings, and benefits to players.
The structure of the deal is in place with details to be finalised and a memorandum of understanding will be drafted, which must be ratified by both sides, according to MLB.Com.
Among the thornier issues that had to be resolved were the possibility of an international draft, roster sizes, ways to reduce wear and tear on players in the 162-game schedule and changes to the luxury tax and compensation to teams losing free agents.
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