Yeah I'm wondering just how ugly it can get immediately (as in, this week). The union's current position, understandably, is they already made a final deal in March. If the owners made that deal thinking they were gonna have 120 games with people in the stands instead of 80 with none, well, oops.
But they are also gonna want to play, and public sentiment won't be on the players' side even if the media, blogs and most people on these boards feel otherwise. So they might have to take the hit with an agreement to negotiate again for 2021 - or a plan to demand a whole lot come CBA time.
I suppose it could just end with MLB making a better offer than 48%, but that's still a huge pay cut from the guaranteed prorated salaries the players are already entitled to receive this year.
A normal business would also be approaching its landlords and vendors for delayed payment and discounts, but most pro sports teams don't truly pay rent (or taxes).
I'm sure it's true that a few teams will be in serious financial trouble. But most won't. And most owners won't be separate from their teams.