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It’s called the Competitive Balance Tax, and it’s in essence a hard cap<p>Giants ace Madison Bumgarner in April of 2012 signed a five-year contract extension worth a guaranteed $35 million. It didn’t kick in until the start of the 2013 seasons, and it includes club options for 2018 and 2019 that the …

Read more at CBS Sports: http://www.cbssports.com/mlb/news/madison-bumgarner-and-the-giants-remind-us-that-mlb-actually-does-have-a-salary-cap/