Owners approved a plan today that will be sent to the Major League Baseball Players Association, formally opening negotiations on the key economic issues for the season to start by the weekend of July 4.
The players would be taking an additional pay cut in this proposal, based on no fans in attendance for an 82-game season, after already agreeing to be paid on a pro-rated basis that reduces their pay by almost 50%.The union was concerned that revenue sharing would lead to the introduction of a salary cap in future negotiations, while wary of further pay reductions, including the possibility of a percentage of their salaries placed in escrow.
The owners insist they will lose money during the regular season without fans in attendance, but would be guaranteed $777 million in postseason TV revenue, which would be inflated to about $1 billion with the postseason format expanded to 14 teams instead of 10. There’s no hard deadline for the negotiations to be completed, but the two sides would likely need to reach an agreement in seven to 10 days if the season can begin the first week of July.
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