What to know about MLB's draft proposal: No more h...

With 166 days until the expiration of Major League Baseball's collective bargaining agreement and the fear of a long-lasting lockout to follow, Major League Baseball and the MLB Players Association met Thursday for a bargaining session. During the meeting, MLB proposed a drastic overhaul to the game's amateur-entry system. Here is everything you need to know -- and it is plenty.

The proposal covers domestic and international amateurs and covers a significant amount of ground. The most important elements include:

High school players would be ineligible for the domestic draft and need to be at least two years removed from graduation to be selectedAn international draft would be implemented for every player outside of the United States, Canada and Puerto RicoThe domestic draft, currently 20 rounds, and international draft both would last 12 roundsThe minimum age for international entry would move from 16 to 18. The minimum age for the domestic draft would be 20 on Sept. 1. College players would be eligible after their sophomore year, as opposed to their junior year currentlySigning bonuses for both would be hard-slotted and capped at $200 million -- around what international players get now and slashed in half from the current system for domestic players.All draft picks can be tradedA reduction of draft lottery teams and elimination of competitive balance choicesCollege baseball, which MLB in a statement called "an increasingly important pathway," would receive an influx of high-end talent annually and serve as a mandatory stop in the domestic development pipelineUndrafted players from both pools could sign for a maximum of $10,000There would be no cuts of minor league teams in 2030, when the 120 player development licenses that MLB grants to make up Minor League Baseball expireCurrent major leaguers reacted swiftly, with the union issuing a statement that said the proposal "would cripple the next generation of players and damage the future of our game."