Major League Baseball offered a new proposal in collective bargaining talks on Thursday that includes a salary cap and floor along with several changes sought by players.
The proposal accepts the MLB Players Association request to reduce the reserve period from six years to five for players aged 30 and older. It also accepts the union's call to eliminate the qualifying offer system.
MLB called for a team payroll cap of $245.3 million and a floor of $171.2 million starting in 2027, with a 50-50 revenue split. The minimum salary would rise 28 percent to $1 million for players with at least two years of service.
A new "Cornerstone Player" rule would allow teams to offer longer contracts to their own free agents. Deferred compensation would be banned in future deals.
The union responded that the offers are of little value because they are tied to acceptance of the salary cap. The current agreement expires December 1.