View Full Version : Another Issue Resolved

duke of dorwood
08-09-2002, 10:34 AM
NEW YORK (AP) -- Players and owners agreed to a $100,000 increase in baseball's minimum salary Thursday, making more progress on minor issues as labor negotiations head into a key weekend.

Faced with the possibility the union's executive board might set a strike date when it meets Monday in Chicago, both sides got three items out of the way and prepared to deal with larger issues.

They set the minimum at $300,000 starting next year, and agreed to increases in the benefits plan that allow most 10-year veterans who played after 1970 to earn pensions of about $160,000 annually, the federal maximum. Also, they agreed to shorten the period for teams to fund deferred salaries.

In addition to agreeing to a new major league minimum, negotiators approved an increase n the minimum for minor leaguers appearing on 40-man rosters for two or more seasons. It will be $50,000 next year, up from $40,500. Both major and minor leaguers will get a two-year cost-of-living adjustment for the 2005 season and a one-year cost-of-living adjustment for 2006.