MLBPA and MLB Reach Agreement, Season Will Move Forward After Delay

Atlanta Braves Defeat Houston Astros
Atlanta Braves Defeat Houston Astros
  • Oops!
    Something went wrong.
    Please try again later.

Daniel Shirey/getty Dansby Swanson #7 of the Atlanta Braves rounds the bases after hitting a two-run home run in the fifth inning during Game 6 of the 2021 World Series between the Atlanta Braves and the Houston Astros at Minute Maid Park

The 2022 MLB season will soon be in full swing after a three-month lockout.

On Thursday, the league and the MLB Players Association settled on a new collective bargaining agreement with the regular season starting on April 7. MLB owners have officially accepted the terms of the five-year CBA in a unanimous 30-0 vote, per the announcement. Players will start mandatory spring training on Sunday.

The MLB postponed opening day until April 14 on Wednesday after the parties failed to reach an agreement. Now, the complete 162-game season will take place, along with the four series that were canceled, MLB shared.

"I am genuinely thrilled to be able to say that Major League Baseball is back, and we're gonna play 162 games," commissioner Rob Manfred said in a press conference Thursday.

RELATED: Novak Djokovic Withdraws from U.S. Tennis Tournaments Over Vaccination Status

Issuing an apology to fans, Manfred continued, "I know that the last few months have been difficult. There was a lot of uncertainty at a point in time when there's a lot of uncertainty in the world — sort of the way the process of collective bargaining works sometimes. But I do apologize for it.

"Our players are great, great athletes, and I respect them. I respect the input that we received from them during this process. We really did learn a lot."

He added that he "could not be more excited about the future of our game."

RELATED VIDEO: Deion Sanders Reveals He Had Two Toes Amputated Following Foot Surgery Complications

The agreement includes an increased minimum salary of $700,000 with a $20,000 increase each year until 2026. A pre-arbitration bonus pool of $50 million is also in place "to reward the top young players in the game," according to MLB.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

Competitive balance tax thresholds will also see a $20 million boost this year from 2021, and the postseason will expand to 12 teams. To settle issues with "roster churn," players can only be optioned five times a season, the league shares.

RELATED: Tiger Woods' Kids, Girlfriend and Mom Join Him for World Golf Hall of Fame Induction

Jerseys and helmets will also be sponsored for increased revenue, the MLBPA shared on its website.

The organization added, "Players are excited to get back on the field, join their teammates and compete in the game they love."

The MLB entered into a player lockout in December, the first time in 26 years. The lockout began after the MLB and the MLB Players Association's previous collective bargaining agreement expired. It was the first work stoppage in the league since the 1994-95 players' strike and the first MLB lockout since 1990.