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MLB players, owners announce five-year labor deal

Updated: October 25, 2006, 2:26 PM ET
Associated Press

ST. LOUIS -- Baseball players and owners proclaimed an unprecedented era of labor peace, finalizing a new five-year collective bargaining agreement Tuesday night before Game 3 of the World Series.

Lawyers struck the deal last weekend during negotiations in New York and then worked on putting it in writing. The agreement, which runs through the 2011 season, is subject to ratification by both sides.

The deal makes relatively minor changes to the previous agreement and doesn't ...

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