MLB owners, players' union agree to 5-year labor contract

It took nearly around-the-clock bargaining over the past two days and nights, but Major League Baseball and its players' union have kept their 21-year streak of labor peace intact for another five years. Shortly before 9 p.m. ET Wednesday, the two sides reached agreement on a five-year collective bargaining agreement that will run through the 2021 season. The new agreement averts a potential lockout of the players that would have frozen baseball's hot stove and pulled the plug on the major league portion of next week's winter meetings.