MLB, players call news conference for labor deal

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NEW YORK (AP) -- Major League Baseball and its players' association have called a Tuesday news conference to announce a new labor contract.

The sides were working Monday to sign a memorandum of understanding on the five-year deal, which replaces one set to expire Dec. 11.

The agreement, which will be drafted into a formal contract, includes blood testing for human growth hormone, a rise in the minimum salary to $480,000 and luxury taxes on both amateur draft signings and international free agents coming to the major leagues. It modifies the luxury tax on high payrolls and changes compensation for clubs losing major league free agents.