NBA Owners Want to Cut Players’ Salaries Drastically
Launching a grim opening salvo in what is expected to be a contentious labor negotiation, NBA owners have sent their initial proposal to the NBA Players Association and are pushing for some elements of a "hard" salary cap as well as a drastic reduction in player salaries, CBSSports.com has learned.
The proposal, sent to the union earlier this week, seeks a reduction in the players’ share of basketball-related income from 57 percent to well below 50 percent, according to a person familiar with the document. Owners also are seeking some elements of a hard cap — a departure from the current luxury-tax system — and a reduction in the length and amount of max contracts.
Owners and players will meet in Dallas during All-Star weekend for their first face-to-face bargaining session as they try to reach an agreement before the current deal expires in 2011. The talks coincide with the NFL’s labor negotiation, in which owners have proposed an 18 percent pay cut for players.