Major League Baseball has offered a new collective bargaining proposal that would introduce a salary cap and floor while allowing many players to reach free agency a year sooner.
The latest offer was shared last Thursday and centers on changes to the reserve system. It would reduce the service time needed for free agency to five years for players age 30 and older in exchange for accepting the new economic framework.
Under the plan the players' share of revenue would stay at roughly 50 percent. The league minimum salary would rise by a record $1 million for players with two or more years of service and would reach $1 million for those with zero to one year of service after a full season.
Maximum contracts would be limited to six years and 16 percent of the cap for players re-signing with their current club. The proposal also calls for eliminating the qualifying offer system.
MLB said the changes aim to address competitive imbalance and direct more pay toward the typical player whose career ends before arbitration.
