Major League owners have ratified baseball's new collective bargaining agreement by a 29-1 vote, according to a source.

Tampa Bay Rays managing general partner Stuart Sternberg was the lone dissenting vote during the telephone meeting on Tuesday, according to a report.

Players also had been scheduled to hold a ratification vote.

The five-year deal was agreed to Nov. 30, a little over three hours before the expiration of the previous contract.