Baseball: MLB And Players Reach New Five-year Deal
Muhammad Rameez Published December 01, 2016 | 10:30 AM
NEW YORK, Dec 1, (APP - UrduPoint / Pakistan Point News - 01st Dec, 2016 ) - Major League Baseball and its players association agreed on a new collective bargaining agreement on Wednesday, beating a midnight deadline to ensure five more years of labor peace.
The deal, which must still be ratified by owners and players, would extend through 2021, MLB said in a statement, adding that both parties "continue to draft the entirety of the agreement". A five year deal would take the game to 26 years without a strike or lockout.
Baseball saw eight work stoppages in the prior 24 years, including the damaging 232-day players' strike that wiped out the 1994 World Series and delayed the start of the 1995 season. After the sides met at a hotel outside Dallas, where the Major League Baseball Players Association held its annual executive board meeting, MLB announced that the tentative deal had been reached.
That was hours before the old agreement was to expire at midnight Eastern time (0500 GMT). Despite the deadline, a lockout of players looked unlikely with both sides eager to continue negotiating and avoid any shutdown of a sport that generates $10 billion a year.
The deal reportedly raises the luxury tax threshold from $189 million to $195 million with further gradual increases. Teams that spend well over the threshold on player salaries could see their tax rate jump to as high as 90 percent.
Also, clubs that sign a premium free agent will not have to yield a first-round draft pick to the team that lost the player. Clubs that exceed the luxury-tax threshold, though, would lose a pick later in the draft.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
Today Gold Rate in Pakistan 19 April 2024
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
U.S. envoy calls on Foreign Minister Ishaq Dar
Poland arrests man over suspected plan to kill Zelensky
More Stories From Sports
-
O'Sullivan eyes eighth snooker world title amid more retirement talk
1 hour ago -
Pak-New Zealand match called off due to rain
3 hours ago -
Rock-solid Ruud racks up season-leading win in Barcelona
10 hours ago -
Pak-New Zealand match called off due to rain
11 hours ago -
Former England Test batsman Raman Subba Row dies aged 92
14 hours ago -
Rybakina beats Kudermetova to reach last eight in Stuttgart
14 hours ago
-
Arsenal paid for 'big mistake' in Bayern defeat: Arteta
15 hours ago -
Matthews leads West Indies women to convincing victory over Pakistan in series opener
16 hours ago -
Former number one Momota retires from international badminton at 29
18 hours ago -
Former number one Momota retires from international badminton at 29
16 hours ago -
Former number one Momota retires from international badminton at 29
20 hours ago -
Azam experiences discomfort during Wednesday's training session
16 hours ago