Major League Baseball and the Major League Baseball Players Association have reached a new collective bargaining agreement (CBA), as first reported by Ken Rosenthal of FOX Sports and later confirmed by the league.
The current CBA, which has been in place since 2012, was set to expire at midnight on Dec. 1.
With the new five-year deal, baseball will now have 27 consecutive years of labor peace.
Players and owners reportedly discussed a variety of topics in the months and days leading up to the contract's expiration, leading some to believe that, at one point, a deal would not be completed by the deadline and a lockout could be put in place.
More controversial topics such as an international draft and the 26-man roster were believed to be part of the hold-up, but in the new deal, neither will be instituted.
Changes in the next CBA will include an increase in the luxury tax, which will immediately rise from $189 million in 2016 to $195 million in 2017. Under the life of the deal, the luxury tax will reach as high as $210 million.
Reforms to the qualifying offer system were also made, as well as the institution of an earlier schedule beginning in 2018 to allow for more off-days. As a result, a source told Cover Those Bases that Spring Training will be slightly cut back.