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MLB Owners Propose Hard Salary Cap and Floor for First Time Since 1994 Strike

Major League Baseball owners made their long-expected salary cap proposal to the players’ association on Thursday, a system the union has vowed never to accept, setting the sides on course for a confrontation that threatens the 2027 season and perhaps beyond. Baseball owners hadn’t proposed a firm cap since 1994. Their effort prompted a 7 1/2-month strike that forced the cancellation of the World Series for the first time in 90 years. MLB's proposal would cap spending in 2027 at $245.3 million, using figures for luxury tax payrolls that include benefits and the pre-arbitration bonus pool, and...