It’s official. There’s a work stoppage in baseball for the first time since 1995. And it may not be as bad as it seems. At least not yet.

The collective bargaining agreement (CBA) – the basic pact that governs employment between the players and the league – expired at 11:59 p.m. EST on Wednesday night and the league’s 30 owners voted unanimously for a lockout.

It’s the ninth work stoppage in baseball’s history and the first since the 1994-95 players’ strike and lockout.

What the heck is happening, you may ask. Well, it’s business, one with about an $11 billion in annual revenue that two sides simply cannot agree with exactly how to split up.

What is a lockout and why is it happening now?

The CBA – which contains all the rules and procedures that dictate every expected detail in the industry such as distribution of postseason funds and the arbitration process, as well as the less obvious protocols about paternity leave, access to sports psychologists and “wearable technology” – has expired and is no longer binding.

With zero agreement between Major League Baseball and the Major League Baseball Players’ Association, the owners decided to lock out players as a way to utilize their bargaining power, much like the MLBPA did with a players’ strike mid-season in 1994.

It’s a common tactic used in negotiations like this, but one that nonetheless breeds frustration for fans of the game.

Ironically, expiring CBA was originally negotiated under the auspices that all parties recognized too much would be lost by a work stoppage at that time. The 2016-21 agreement was signed by both sides just hours before the deadline.

This time around, with just as much to lose, the two groups have a little more animosity towards one another. The players are upset about losing some ground in that last CBA and the owners do not want to budge financially, especially after the loss of revenue without fans in 2020.

Keep in mind that the first collective bargaining agreement didn’t exist until 1968, nearly 100 years after the formation of the National League. Before that, the league minimum salary had been the same since the end of World War II and there was simply no such thing as arbitration at the time.

So, the CBA is critical to the balance of those with billions focused on the business side and those with millions tasked with being stewards of the game on the field.

When can we expect this to end?

Many industry sources point to February 1 as an important deadline date, as a deal would need to be in place by then in order for pitchers and catchers to report to Spring Training in mid-February.

Anything beyond that could jeopardize the beginning of the Cactus League and Grapefruit League schedules as well as the start of the 2022 season.

The 1995 lockout forced the normal 162-game season to get pared down to 144 and the April 3 Opening Day moved back to April 26. In no way does MLB or the MLBPA want to lose any games and the subsequent revenue loss associated with such a decision.

What needs to get negotiated?

Any and every thing involving money is what both sides will be negotiating. Many smaller tweaks have already been discussed and reportedly handled, but it’s the financials that will lengthen this pause in the offseason.

The union wants for its younger members to be fairly compensated earlier instead of after three years of service time. They’d also like to see a salary floor for all teams to encourage spending and, thus, increase the salaries of its members, something they’ve seen decrease since the advent of the the 2016-21 CBA.

Oct 26, 2021; Houston, TX, USA; MLB commissioner Rob Manfred before game one of the 2021 World Series between the Houston Astros and Atlanta Braves at Minute Maid Park. Mandatory Credit: Troy Taormina-USA TODAY Sports

Can anything normal happen during this lockout?

Unfortunately, baseball will be on a timeout… again. The whole sports world was put on delay for a few months during the early days of the COVID-19 pandemic and now baseball is set to have it happen for the second time in less than two years.

Granted, there are no games scheduled during the winter, so that’s one crisis averted. But the Hot Stove League will be unceremoniously turned off until a new agreement is created.

Trades cannot be announced, free agent signings are no more and the rumors tthat keep us warm during the frigid days of December and January will be snuffed out.

This pause in typical action also extends to offseason activities for players, such as working with coaches and using team facilities. Drug testing will cease and front office personnel are prevented from talking about its own big league players.

What changes could come out of a new CBA?

MLB and the MLBPA have each brought unique ideas to the table so far and several appear to be plausible, albeit with some alterations that work for both sides.

An expanded postseason would be a big change. The league has reportedly proposed for 14 teams to make the postseason while the players prefer 12. Should the former be implemented, the team with the best record in the AL and NL would receive a first-round bye. The next two ranked clubs, presumably division winners, would choose their opponent during a potential selection-style show.

Modifications to the way service time and arbitration is calculated, how the order to the MLB Draft should be decided and even the implementation of a pitch clock have been just some of the ideas brought forth during discussions.

Everyone wants the universal designated hitter, but it remains to be seen if the league will view it as more advantageous for the players. If so, this could become a strange sticking point for something that should so clearly benefit the game.

Who are making the decisions for each side?

Commissioner Rob Manfred is at the helm for  the league and Deputy Commissioner Dan Halem is also representing the owners’ best interests. Another name frequently mentioned during this process is that of Colorado Rockies owner Dick Monfort, who is the Chairman of MLB’s Labor Policy Committee.

For the Players’ Association, Tony Clark is Executive Director and is supported by chief negotiator Bruce Meyer. An executive committee for the MLBPA is comprised of eight players: Zack Britton, Jason Castro, Gerrit Cole, Francisco Lindor, Andrew Miller, James Paxton, Max Scherzer and Marcus Semien.

How does this end?

The lockout will be over at some point, but the date and details of the resolution are anyone’s guess. The biggest hope is that no games are lost in the process and that fans don’t avoid ballparks in 2022 the way the sport witnessed in 1995.

As long as we’re all back at Coors Field on April 8 against the Los Angeles Dodgers for the home opener next year, this will all feel like nothing more than a bad dream.

Anything else and it could be an absolute nightmare.