MLB’s first offer to union includes initial look at details of hard salary cap

MLB owners presented their first economic proposal to the players union in New York on Thursday, revealing details of a proposed hard salary cap system. The proposal calls for a salary cap of $245.3 million and a salary floor of $171.2 million for 2027, the first year of the new labor deal, along with a 50-50 revenue split. The current collective bargaining agreement is set to expire in December, and negotiations are ongoing between players and owners.