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Why the big spenders, namely the Yankees and the Red Sox, aren't spending big this offseason.

Baseball's labor negotiators have reached a "handshake agreement" on all major issues, and the sport's new five-year collective bargaining agreement is likely to be announced Tuesday, sources told ESPN.com Friday.

Baseball negotiators are on the precipice of a new labor deal that will dramatically alter the landscape of the sport, multiple sources told ESPN.com on Tuesday.

Negotiations in Major League Baseball's stalled labor talks have taken "a step forward" this week, according to one source familiar with the discussions, and a second source told ESPN.com it's possible a deal could be completed this week.