MLB commissioner Rob Manfred proposed a major change around local media revenues in the owners' first proposal. David Banks / Imagn ImagesMay 28, 2026 Updated 3:20 pm EDTFor a long time, it’s been clear that Major League Baseball’s owners would make a new push for a salary cap-and-floor system. The mystery, though, has been what exactly the owners want the system to look like.In its opening economic proposal to the players in New York on Thursday, the owners finally revealed some of the details.In 2027, they’re proposing a salary cap of $245.3 million and a floor of $171.2 million with a 50-50 split of revenues. The salary figures the league is using are based on average annual values, or what’s commonly referred to in baseball as salary for luxury-tax purposes.Player pay would be newly subject to an escrow system, where players would have to give back, or potentially receive additional money, once the league’s revenues are calculated.As part of the change, all local-media revenues in the sport would newly become central revenue, a major change commissioner Rob Manfred has sought.“The biggest issue we need to solve next to continue to grow the game off the field is fixing the payroll disparity unseen in any other major U.S. sport,” league spokesperson Glen Caplin said in a statement. “Ultimately the game is about hope and competition and too many fans in too many markets have too little hope their team has a fair chance to win. Fans overwhelmingly support a salary cap and floor like in the other leagues because they don’t believe a $446 million spending gap from top to bottom is a fair fight.”“Our salary cap and floor proposal levels the playing field while sharing baseball revenue with the players 50-50 as we grow the game together. Further, by sharing media revenue equally as part of our proposal, we can address another top fan concern of local TV blackouts. We look forward to working with the MLBPA during the bargaining process to continue improving the game for the fans.”The MLBPA did not immediately comment.This story will be updated.May 28, 2026Connections: Sports EditionSpot the pattern. Connect the termsFind the hidden link between sports terms