Oct 21, 2010, 3:19 PM EDT
And you wonder why we keep hearing that a lockout is coming….
David Stern, during a press conference following two days of Board of Governor meetings Thursday, said there had been “no quantifiable progress” toward a new Collective Bargaining Agreement and that the owners wish to cut between $750 million and $800 million a year in payroll, as reported by the Associated Press.
The league’s total payroll this season will be about $2.1 billion, which would make those cuts more than one third of the money currently going to players.
This season players will get about 57 percent of “basketball related income” the league generates. Owners have said they are losing money – as much as $400 million a year in this economy — and that players salaries need to be reduced.
Players dispute the volume of losses, pointing to the number of people lining up to buy teams and this summer’s massive free agent spending spree by the owners. Players also note they get none of the profit owners make when they sell teams.
There is no way the NBA Players Association is going to allow that kind of salary reduction. With the NBA about to experience a boom year, a lockout might be the most stupid thing that can happen. But we keep hearing it’s going to happen. That this is going to be a nasty fight.
- Steve Nash to miss entire 2014-15 season with ongoing back injuries 27
- Jeanie Buss: ‘Any free agent that would be afraid to play with Kobe Bryant is probably a loser’ 52
- ProBasketballTalk 2014-15 Preview: Memphis Grizzlies 7
- Five top candidates for NBA Rookie of the Year 30
- NBA GMs surveyed predict LeBron will win MVP, Spurs will repeat as champions 31
- Owners vote down NBA Draft lottery reform, system to stay same for this season 47
- ProBasketballTalk 2014-15 preview: Houston Rockets 26
- Kobe Bryant responds to ESPN article with basically a shrug (VIDEO) 22