Biography & Early Wealth Journey

The minimum salary for the minor leagues will also be impacted, spiking from $82,700 to $86,500 in 2017. Then, it will go to $88,000 and $89,500 in 2018 and 2019 respectively. The minimum will undergo the same cost of living adjustment as the majors in 2020 and 2021.

(Tim Boyle/Getty Images)

(Tim Boyle/Getty Images)

Looking back in history, the minimum salary has undergone drastic change in the past 50 years. Back in 1967, the minimum salary in Major League Baseball was $6,000, with the league's average salary standing at a pitiful $19,000. A quarter of a century ago, the league minimum was $100,000, with the league average being just under $600,000. Today, the average salary for a Major League player is about $4.4 million.

Primary Income Streams & Multi-Million Contracts

Other important adjustments to the new CBA include limiting the minimum number of days on the DL from 15 to 10, and also creating a new rule where the team with the highest winning percentage gets home-field advantage in the World Series, rather than being based on the All-Star Game winner.