Owners and Players suffer CBA setback
Thursday’s labor meeting ended shortly after 7:00 PM EST. No new meetings will be scheduled at this time, according to a source. Talks on a 50-50 split of basketball-related income broke down and this is considered a huge setback in coming to agreement on a new deal.
HoopsVibe’s Very Quick Call: It’s off.
After a few days of mediation – including a marathon 15 hour session on Monday – the players union and owners have separated and broken off talks.
There are no plans to meet again. There is no miracle collective bargaining agreement coming. The issue: the split of Basketball Related Income.
The owners are holding firm to their demands of a 50-50 split of BRI. Meanwhile, the players have dropped their demands to 52.5 of BRI.
Star mediator or not, the two sides weren’t able to bridge the gap and split the difference. System issues, specifically the dollar-for-dollar luxury tax, has also become a problem.
The union feels the owners’ Super Tax for teams over the cap is the equivalent of a hard cap, and will restrict player movement and salaries.
Bottom line: no NBA. And not for some time, either. More games will likely get cancelled.
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