NEW YORK – Baseball owners unanimously approved their new labor contract on Friday during a telephone conference call.

The five-year deal, announced at the World Series last week, runs until December 2011.

“Unanimous approval by the clubs is yet another indicator of the peace and prosperity that exists in the industry,” commissioner Bud Selig said in a statement. “This agreement gives us a great opportunity to continue to grow the game.”

The executive board of the players’ association has not yet decided on the union’s approval process.

AP-ES-11-03-06 1440EST