With free agency open and the offseason in full swing across Major League Baseball, a black cloud still looms over the sport: the expiring collective bargaining agreement, which will almost certainly lead to a lockout beginning at midnight on Dec. 2. On Tuesday, Major League Baseball submitted its latest proposal to the MLB Players' Association, which included changes to the proposed salary cap and floor structure. 

Here's what you need to know about the latest proposal and how it impacts the Boston Red Sox. 

Like every offer the league has submitted to the Players' Association, the latest proposal includes implementing both a salary cap and a salary floor. The biggest change in the league's latest proposal is that it would not implement the salary cap and floor until the 2028 season. The league says the change is to give teams more time to prepare for implementation, with the offseason already underway. Another change in the newest proposal is the figures on both the salary cap and floor, with the league raising the proposed cap by $12.9 million from $245.3 million to $258.2 million and the proposed floor by $9 million, from $171.2 million to $180.2 million. 

Other proposal details include increased revenue sharing with players, a league minimum salary of $1 million annually for players with at least two years of service time, and $900,000 for players with less than two years of service. The league's proposal also allows players to reach free agency after five seasons, instead of the current six, allowing them to sign larger deals sooner. 

In the short term, the league's latest proposal would help the Red Sox as they build their 2027 roster. With $267.9 million already committed to the 2027 roster before making any additions, the Red Sox would have to shed nearly $10 million to become compliant with cap restrictions before improving upon a roster that was on the wrong side of the biggest blowout in the Wild Card round since it became a three-game series in 2022.

Pushing implementation back to the 2028 season would, theoretically, let the Red Sox further balloon their payroll in pursuit of a World Series, with the guarantee that they could shrink it just one year later, with the help of more than $50 million coming off the projected payroll thanks to the expiring contracts of Trevor Story and Masataka Yoshida. 

However, that is much easier said than done. Sure, the Red Sox could go out and shell out the $50 million that is set to come off the books after 2027 in free agency and enter 2028 with $260 million or so committed to the roster. However, under the current proposal, Boston would still need to shed money to get under the cap. 

In all likelihood, delaying the cap and floor would do little to spark free-agent activity ahead of the lockout. Teams still won't be inclined to shell out major money on long-term deals ahead of the lockout with so much uncertainty still looming. Then, if the owners get their wish with the salary cap, teams will still approach free agency after the lockout ends, with the pending implementation in mind.

That said, this is moot for now, as the MLBPA has already rejected the offer, stating, "MLB owners continue to propose blowing up the current system and replacing it with one designed to line their pockets and increase their franchise values." 

As has been the case for some time, a lockout is all but certain, with neither side willing to give an inch on the salary cap and floor.