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Labor showdown looming in NBA
Source: Agencies |
July 1, 2011, Friday
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THE NBA could be joining the NFL in a labor freeze as the league and union representing players have one last negotiating session scheduled before their collective bargaining agreement expires.
Representative for the players and owners were scheduled to meet in New York yesterday about 12 hours before the midnight deadline and the NBA will be seeking contract changes to offset net losses they claim run to some US$300 million.
With the two sides far apart on several financial issues and the players opposed to a new salary cap system, the league could be facing its first work stoppage since the 1998-99 season was reduced by 32 games to 50. NBA officials have said that 22 of the league's 30 clubs are losing money, while the union has called on the league to revise its revenue sharing provisions to address the problem.
NBA Commissioner David Stern said revenue sharing alone could not resolve the league's financial problems.
Representative for the players and owners were scheduled to meet in New York yesterday about 12 hours before the midnight deadline and the NBA will be seeking contract changes to offset net losses they claim run to some US$300 million.
With the two sides far apart on several financial issues and the players opposed to a new salary cap system, the league could be facing its first work stoppage since the 1998-99 season was reduced by 32 games to 50. NBA officials have said that 22 of the league's 30 clubs are losing money, while the union has called on the league to revise its revenue sharing provisions to address the problem.
NBA Commissioner David Stern said revenue sharing alone could not resolve the league's financial problems.
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