The owners will have been briefed repeatedly on the expected CBA outcome. The Pohlads already know what their plan A is.
Most likely, it's a mix of the current system and national media revenue sharing in some form or fashion.
Based on Tom Pohlad's statements and the potential of that outcome, it should be reasonable to expect a decent payroll bump to very roughly ~130 million.
The free agent market has a good amount of pitching including a ton of relievers. So the most logical move would probably be to clear off dead weight like Larnach, Ober, Lewis, etc, opening up space to sign a few pitchers and trade for a position player contract another team wants out from.