This Day In Dodgers History: Orel Hershiser Takes Pay Cut Through Arbitration For 1987 Season
Briefly

During the first Collective Bargaining Agreement between MLB and the Players Association in 1968, the max salary reduction allowed was set at 20%, and an arbitration system was added to the league.
Following his remarkable season, Hershiser asked for a record $2.425 million through salary arbitration for his age-30 season, while the Dodgers countered at $2 million.
Read at Dodger Blue
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