Five hours after the midnight deadline, Major League players and owners avert a strike by announcing a new four-year basic agreement. The new deal raises the minimum salary from $21,000 to $30,000 and increases the clubs’ contributions to the players’ pension fund, but the major issue of free agent compensation remains unresolved.

On May 23, 1980 — Five hours after the midnight deadline, Major League players and owners avert a strike by announcing a new four-year basic agreement. The new deal raises the minimum salary from $21,000 to $30,000 and increases the clubs’ contributions to the players’ pension fund, but the major issue of free agent compensation remains unresolved.

Source:
Baseball Reference May 23

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