Isaac
Years ago
Stern: NBA has lost US$400m this season
As part of his troubled negotiations with the player's association, NBA commissioner David Stern has been trying to get players to understand that their salaries may be out of step with the financial realities of the league:
DALLAS -- David Stern said Saturday the NBA is projecting league-wide losses of about $400 million this season and has lost hundreds of millions in each previous year of the current collective bargaining agreement.Here's some info on the changes they're pushing for:
Stern refused to details specifics of the league's proposal. A person who had seen it told The Associated Press on Thursday that it called for first-round picks to have their salaries cut by about one-third, would reduce the minimum salary by as much as 20 percent, and would guarantee contracts for only half their value.
Also, the total value of a maximum salary would drop sharply, as would the total years players could sign for, and the players would see a reduction in their share of the basketball-related income, of which they currently receive 57 percent.