MLB owners meet amid labor negotiations with players’ union

By JAY COHEN
AP Baseball Writer

CHICAGO (AP) — New York Yankees owner Hal Steinbrenner said he voted for Major League Baseball’s proposal to lower the luxury tax threshold, a plan opposed by the players’ union with the sport on the brink of its first work stoppage on 26 years. The luxury tax, formally known as the competitive balance tax, had a threshold of $210 million this year. Owners proposed lowering it to $180 million and adding a $100 million payroll floor. The union long has opposed a floor, fearing it would lead to a hard cap.