What happened: Major League Baseball owners introduced payroll limits as a central mechanism in their collective bargaining framework, according to ESPN. The presentation includes additional economic structural changes.

Why it matters: The players union historically resists owner-mandated spending caps, establishing a point of contention. With the current agreement expiring in December, an ensuing labor dispute could delay the season.

What to watch: Negotiations between the league and the players union will continue ahead of the deadline.