Nov 29, 2011, 11:46 AM EST
NBA players have questions about the new NBA Collective Bargaining Agreement, too. Theirs mostly revolve around, “When can we get back to work and get paid? And how much are we going to get paid?”
Billy Hunter tried to explain both the deal and the process to the players in a memo obtained by Sam Amick of Sports Illustrated.
As for the timing, first the players have to vote to reform the union (remember the union formally dissolved to make way for the antitrust lawsuits against the league). That process should have started Tuesday, Hunter says in the memo. Once that happens the details of the CBA will be hammered out between the two sides.
Hunter says the players will get to vote on the new CBA next week. With training camps and free agency set to open next Thursday, you can bet that gets done early in the week.
Then Hunter gets around to explaining the money.
Over the course of the 10-year agreement, collective player salaries and benefits will increase from $2.17 billion in 2010-11 to more than $3 billion by the end of the deal. If revenues exceed modest growth, we expect that collective player salaries will likely grow to over $3.5 billion. The average player salary will approach $8 million by the end of the deal.
Although players will not receive 57% of BRI as under the 2005 CBA, collective player salaries should experience the same annual salary growth as the last deal.… Nonetheless, thanks to the enormous success projected for the NBA, league revenues should grow so high that our collective annual salary increases will favorably compare to the increases we received under the 2005 CBA. On average, under the last deal, the players received annual collective salary increases of $70 million per season. Under the new agreement… the players will receive collective annual increases averaging at least $85 million each year over the term of the 10-year agreement. Beginning in 2012-13, we expect that collective salaries will increase by more than $100 million per season.
Hunter goes on to explain the challenges of the increased luxury tax but how they were able to maintain some flexibility for teams to spend who are paying the tax. The goal was to allow more player movement despite the tax, he said.
Go read the deal. Not all the players will like it and the memo is certainly Hunter selling it to his constituents. But at the end of the day they are not going to get a better offer and it’s not worth losing more pay to fight over the scraps.
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