MLB proposed a salary cap system Thursday, marking the league's first foray into overhauling the sport's economic structure in more than three decades.

Major League Baseball owners made their long-expected salary cap proposal to the players' association on Thursday, a system the union has vowed never to accept, setting the sides on course for a confr...

MLB's proposal would cap spending in 2027 at $245.3 million, using figures for luxury tax payrolls that include $20.1 million for benefits and the pre-arbitration bonus pool.