Labor negotiations are also a hot topic in the NBA. Howard Beck writes about it in today’s New York Times under the header “NBA eyes drastic cut in payouts to players.”
“NBA owners have been seeking big changes in the collective bargaining agreement, including a hard salary cap and numerous restrictions on player contracts,” Beck wrote. “But the specific cost-savings target was made public for the first time Thursday, when Commissioner David Stern disclosed it to reporters after an owners meeting in Manhattan.”
“We would like to get profitable, have a return on investment,” said Commissioner Stern. “There’s a swing of somewhere in the neighborhood of $750-to-800 million that we would like to change.”
Beck noted that “a reduction of $800 million would represent a 38 percent across-the-board pay cut for the players, who currently earn about $2.1 billion in salaries and benefits, according to the league.”
NBA Deputy Commissioner Adam Silver also addressed the issue. “Before you know it, we’re going to be at the beginning of 2011, and it’s going to begin having an impact then and uncertainty is bad news for any business,” Silver said.
For the complete story, click here.