Yup, baseball is broken.
1. Bust the union, like the NFL did, is step one. The union is by far the biggest detriment to competitive balance. Players, BTW, needn't lose much if any money in thr process. A little more can go to the minor leagues, more to the average MLB players, a lot less to the few at the top.
2. Share the money. Almost all of it. This is one area where ownership needs to show some foresight. Share it among ownership, and the players.
3. Hard salary cap and hard salary floor. Non negotiable. No exceptions. The Dodgers don't get to spend 1 penny over the cap. The A's don't get to spend 1 penny under. If they're sharing revenues, this is doable.