December 23, 2012
LOVEMYTEAM.COM
This Day in History
by Zach Shelton
December 23, 2012
This post was written by Zach Shelton on December 23, 2012
Posted Under: This Day in History

December 23, 1994 - Much to the chagrin of their players, MLB owners vote to impose a salary cap, leading to the one of the worst work stoppages in the history of professional sports. Currently, the league uses a luxury tax system in which teams with exceedingly high payrolls are taxed by the league. In 2013, the New York Yankees will pay a $19.3 million-luxury tax.

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