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NEW YORK (Reuters) - Major League Baseball players reached a new labor agreement with team owners in 11th-hour talks on Friday, averting a strike that had threatened to damage America's pastime for years to come.

Donald Fehr, chief of the powerful players' union, confirmed there would be no strike as he emerged from marathon negotiations at baseball's New York headquarters.

"There's no strike," Fehr told a swarm of reporters, declining further comment.

http://story.news.yahoo.com/news?tm...cid=578&u=/nm/20020830/ts_nm/mlb_strike_dc_17
 
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