During a meeting with the players association on Monday, Major League Baseball came up with a new economic plan pertaining to the collective bargaining agreement, according to The Athletic . CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COMThe league proposed a new first tier of the luxury tax, which is set at $180 million, the report stated. It will also have a new salary minimum of $100 million. Taxation would begin at 25% for teams that are spending over $180 million, according to the report. The first luxury tax threshold is currently set at $210 million.

Source: Fox News August 19, 2021 00:11 UTC