MLB Owners Propose Salary Cap and Floor to Players' Union

Major League Baseball owners have formally submitted a proposal to the players' association, outlining a new financial structure for the league. The plan includes a specific salary cap of $245.3 million and a floor of $171.2 million, alongside a 50-50 split of local media revenue. This marks the first firm cap proposal since the 1994-95 strike, potentially setting the stage for future labor negotiations. The current collective bargaining agreement is set to expire after the 2026 season.