Labor peace in Major League Baseball will continue.

Multiple reports Wednesday night point to a new collective bargaining agreement reached between the MLB and MLBPA. The current CBA expires midnight Thursday.

Joel Sherman of the New York Post, and Ken Rosenthal and Jon Morosi of FOX Sports reported additional details.

Besides the obvious — avoiding a lockout — it was important for baseball to avoid a lockout after such an exhilarating 2016 postseason, which included a memorable World Series, in addition to the World Baseball Classic returning in 2017. The game is growing and that progress won’t be slowed or erased due to a work stoppage.

This news also means next week’s Winter Meetings, where a lot of trades and free-agent signings normally happen, will proceed as planned.

Thumbnail photo via Nick Turchiaro/USA TODAY Sports Images