What happened: Major League Baseball's opening collective bargaining proposals center on a new salary cap and floor system, per ESPN. The league's framework includes earlier free agency and increased minimum salaries to offset the financial restrictions.

Why it matters: The pitch aims to address payroll disparity by centralizing local television revenue and sharing it equally among clubs. The players association views a hard cap as a non-starter, elevating the risk of a work stoppage when the current agreement expires.

What to watch: The union will counter the economic structure ahead of the December 1 deadline.