When a few top officials from the league and players’ union rekindle NBA lockout talks on Wednesday, it will not happen under the precondition that players accept the owners’ 50-50 revenue split proposal, reports Chris Sheridan.
NBA Lockout Talks Resume Without 50-50 Precondition, Says Report
Talks broke down last Thursday when owners, led by San Antonio Spurs boss Peter Holt, told representatives from the players' union that no further negotiations on changes to the salary cap system would be held until the players accepted the league's proposed 50-50 split of revenue. Players balked at the ultimatum, talks broke off and federal mediator George Cohen bolted for the exits.
Accepting a 50-50 split would represent a drawdown in total player salary of about $280 million compared to last season. The NBA has claimed its teams lost $300 million last season. The union has contended that half of those losses stem from depreciation and interest payments on debt -- losses that are fine to report to the IRS but that have no place in the discussion when asking for severe employee concessions.
It’s unclear if the two sides will get anywhere, but having them in the same room is better than not.
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