There will be labor peace in Major League Baseball for at least another five years. About three hours before the old collective bargaining agreement was set to expire, baseball management and the players agreed to a new deal.

Among the items agreed to...

- Luxury tax threshold goes up to $195-million next year and all the way to $210-million by the last year of the deal. Teams start to pay a tax if salaries go above the amounts.

- Teams signing a big free agent will not have to give up a #1 draft pick.

- No more All Star Game winner deciding home field for the World Series. Team with best record gets home field.

- Smokeless tobacco banned for all new big league players.