Major League Baseball has proposed a plan to limit most free agent contracts to five years and 15% of a team’s salary cap. The proposal, which is likely to spark a confrontation with the players’ association, would eliminate deals such as Juan Soto’s $765 million, 15-year contract with the New York Mets.
Details of the Proposal
The league’s plan would also eliminate deferred compensation and establish a ‘cornerstone player’ similar to the NBA’s Bird rule, which would allow a team to re-sign a player at 16% of the cap. A free agent switching clubs would be limited to a $36.8 million salary next year and a re-signing player to $39.2 million.
Salaries for free agents in additional seasons of a multiyear contract would be limited to 5% increases, as would salaries for younger players in multiyear deals that cover potential free-agent seasons. Contracts would be capped by service time, with specific limits for players at different stages of their careers.
The proposal also includes a minimum salary increase from $780,000 to $1 million for players with two years of big league service, and an increase in the pre-arbitration bonus pool from $50 million to $65 million next year and $75 million by 2032.
Original reporting: Texarkana Gazette — read the source article.
