THE LOCKOUT: DAY 1 : THE KEY ISSUES

OWNERS

--Revenue sharing: Have proposed giving players 48% of their revenue from ticket sales and from national and local radio and television rights, which represents 82% of their total revenue. The 48% would cover player salaries and the benefit plan. The 26 clubs would share on an equal basis the salaries for all players with six or fewer years of major league service.

--Other issues: It’s unclear whether pay-for-performance and participation payroll levels are still issues. The plan brought forward by Fay Vincent, while rejected by the players Wednesday, could lead to compromises and lessen the importance of ancillary issues.

PLAYERS

--Minimum salary: Have proposed an increase from $68,000 to between $100,000 and $125,000.

--Salary arbitration: Have proposed reducing eligibility requirement from three years in the major leagues to two.

--Roster size: Have proposed return to 25 player limit from 24.

--Free agency: Have proposed eliminating the five-year waiting period for repeat free agents and the compensation system by which a team signing a free agent has to give amateur draft choices to the team losing the free agents. Have also proposed offering free agency to players who are removed from 40-man control rosters and sent to minor leagues outright.

--Benefit plan: Have proposed continuing the current formula combining owners’ contributions with revenue from television contracts covering the All-Star game, league playoffs and World Series, which accounts for about one-third of the $1.06 billion that CBS will pay baseball over the next four years.

Collusion: Have proposed that the owners agree to pay treble damages if found guilty again of conspiring against free agents, as they did in the winters of 1985 and ’86.