What happened: MLB owners have submitted a landmark seven-year CBA proposal that introduces a $245.3 million hard salary cap and a $171.2 million salary floor. The plan includes a 50-50 revenue split between owners and players and the centralization of local media revenues.

Why it matters: The MLB CBA proposal aims to fix payroll disparity by requiring low-spending teams to meet a floor while curbing the top spenders. However, the MLBPA has historically opposed a hard cap, with officials calculating that players would have lost over $500 million in 2026 under such a system.

What to watch: Negotiators will continue talks ahead of the December 1 expiration date. The union is expected to deliver a formal counter-proposal in the coming weeks.