Major League Baseball owners propose salary cap
Major League Baseball owners proposed a salary cap for the first time in decades Thursday — something the players union has vowed to never accept.
Under the proposal, teams would need to maintain a payroll of at least $171.2 million and couldn’t exceed $245.3 million. Eight teams currently spend more than that, including the World Series champion L.A. Dodgers.
If the two sides can’t reach a deal before the current contract expires in December, owners could lock out the players. The last time that happened was back in 1994, and it led to a seven-month strike that canceled the World Series.
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