MLB players, owners ratifiy new CBA

Major League Baseball officially has its new collective bargaining agreement.

The MLB Players Association voted unanimously to ratify the new CBA on Wednesday, one day after the owners voted 29-1 in favor of the deal.

"The Players' involvement during negotiations was both essential and unprecedented, and today's unanimous vote was the culmination of those efforts," MLBPA executive director Tony Clark said in a statement. "I wish to thank and commend not just our negotiating committee and executive board, but also the hundreds of players who participated in bargaining preparations and the negotiation itself. This was a team effort from beginning to end."

The two sides previously reached a tentative agreement Nov. 30, hours before the deadline. The current deal expires Dec. 1, 2021.

"This agreement allows us to build on the positive momentum from last season and promote a generation of young players who represent the National Pastime extraordinarily well," commissioner Rob Manfred said in a statement. "We are looking forward to the many opportunities ahead to continue the game's growth."

The new CBA includes no drastic changes, but there are alterations to draft-pick compensation, the luxury-tax threshold, international signing bonuses, and the elimination of the All-Star Game deciding home-field advantage in the World Series.