Salary Cap: An agreement that places a limit on the amount of money that a team can spend on player salaries.
Soft Cap: A soft cap system places a limit on how much money each team can spend on all of their players while allowing teams to go over that limit by issuing exceptions and requiring teams to pay a luxury tax.
Hard Cap: A hard cap is when teams are not allowed to spend over a certain amount regardless of the circumstances.
Luxury Tax: A luxury tax is a surcharge put on the payroll of a team to the extent to which it exceeds a predetermined guideline level set by the league.
Collective Bargaining Agreement(CBA): A negotiation between employers and a group of employees aimed at reaching agreements to regulate working conditions. The collective agreements negotiations usually set out working hours, wages scales, training, health, safety, overtime, and rights to participate in workplace or company affairs.
Floor Cap: The minimum salary a player can be paid.
Ceiling Cap: The maximum salary a player can be paid.
Lockout: A lockout is a temporary work stoppage or denial of employment initiated by the management of a company during a labor dispute. It is different from a strike, in which employees refuse to work.
Free Agent: A player who is eligible to sign with any club or franchise.
Restricted Free Agent: Any veteran player with accrued seasons, but with less than four, at the conclusions of the player's expiring contract.
Interleague Play: An interleague play in MLB refers to regular-season baseball games played between an American team and a National team. It was first introduced in the 1997 season.
Soft Cap: A soft cap system places a limit on how much money each team can spend on all of their players while allowing teams to go over that limit by issuing exceptions and requiring teams to pay a luxury tax.
Hard Cap: A hard cap is when teams are not allowed to spend over a certain amount regardless of the circumstances.
Luxury Tax: A luxury tax is a surcharge put on the payroll of a team to the extent to which it exceeds a predetermined guideline level set by the league.
Collective Bargaining Agreement(CBA): A negotiation between employers and a group of employees aimed at reaching agreements to regulate working conditions. The collective agreements negotiations usually set out working hours, wages scales, training, health, safety, overtime, and rights to participate in workplace or company affairs.
Floor Cap: The minimum salary a player can be paid.
Ceiling Cap: The maximum salary a player can be paid.
Lockout: A lockout is a temporary work stoppage or denial of employment initiated by the management of a company during a labor dispute. It is different from a strike, in which employees refuse to work.
Free Agent: A player who is eligible to sign with any club or franchise.
Restricted Free Agent: Any veteran player with accrued seasons, but with less than four, at the conclusions of the player's expiring contract.
Interleague Play: An interleague play in MLB refers to regular-season baseball games played between an American team and a National team. It was first introduced in the 1997 season.