New CBA deal is complete

Major League Baseball and Major League Baseball’s Players Association reached a deal on a new collective bargaining agreement Wednesday night, according to FOX Sports’ Ken Rosenthal.

The deal will be in place for five years, Yahoo! Sports’ Jeff Passan first reported. The current CBA was scheduled to expire Wednesday.

Now that both sides have agreed on a new deal, there won’t be any delay in baseball’s offseason. The ongoing talks seemed to affect discussions between teams and big-name free agents. Discussions can now progress in advance of next week’s Winter Meetings.

We will continue to update this post as new details are made available, but here is what we know with regard to the new CBA:

• There won’t be a 26th roster spot, according to Joel Sherman of The New York Post. Teams will carry 25-man rosters, which will remain eligible to expand in September.

• The luxury tax threshold is expected to be close to $195 million next season and increase to between $210 and $215 million over the five-year span, according to Sherman.

• Teams over that threshold will be forced to part with a second and fifth round pick to sign a free agent who declined a qualifying offer, according to ESPN’s Jayson Stark. Teams under that threshold will part with a third round pick. Those changes will be implemented next offseason, according to MLB.com’s Jon Morosi.