"America's greatest pastime will continue without stoppage through the 2011 season, thanks to a Collective Bargaining Agreement announced before Game Three of the World Series.  The new CBA means at least 16 years between labor stoppages, an improbable length of time in today's sporting world.

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...other major change to the CBA is a rapid escalation of league minimum salary.  In 2006 minimum wage for Major League players was $327,000.  In 2007, minimum wage for Major League players will be $380,000.  That makes for a 16% jump from 2006 to 2007, and by 2009 the minimum salary will be $400,000". 

{note: most player make huge money on endorsements, ball-signing and such, all in addition to their fixed salary}