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Baseball will eventually cannibalize itself if a hard cap isn’t imposed. Even if you set it for 2030, I think that’s a fair amount of time for teams to adjust. Ban the BS deferred contracts that skate the system as well. Or count the deferred money w/ the actual playing contact.
When teams can’t keep talent because other teams can pay 40-50 million without consequences it ruins competitiveness. Force a floor and ceiling cap. Keep baseball interesting.