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Why was the World Series canceled in 1994?

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The 1994 World Series was canceled due to a Major League Baseball players' strike that began on August 12, 1994, and lasted for 234 days.1

The labor dispute arose after team owners, concerned about rising payrolls and financial disparities between clubs, proposed a new collective bargaining agreement that included a salary cap and the elimination of salary arbitration. The players' union rejected these proposals, leading to a work stoppage that shut down the remainder of the 1994 season. This strike resulted in the first cancellation of the World Series since 1904, erasing 921 games in total across the 1994 and 1995 seasons.1