He did not sign on to the agreement because he felt independent marketing deals would be more lucrative for him. The announcement came in 2003 that he would not sign it the following year. He become the first union member not to sign it in it's the 30 year history.
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Bonds missed most of the 2005 season due to a chronic knee problem for which he had already had surgery. He wound up coming back at the end of the season, playing 14 games and hitting 5 home runs.