Today’s NBA labor discussions weren’t completely without progress, as the two sides inched closer to a 50-50 revenue split, “give or take a point with ranges based on revenue performance,” according to a source cited in a Yahoo! Sports report.
As long expected, the two sides have moved closer to a “50-50 split, give or take a point with ranges based on revenue performance,” one source said.
While the league’s owners and players made progress in Wednesday’s 8½-hour mediation session, one source involved in the talks was hesitant to characterize it as a “breakthrough” moment, saying system issues could again derail talks. The two sides will resume mediation at 2 p.m. ET Thursday following the conclusion of the owners’ board of governors meetings. The owners are meeting to discuss a new revenue-sharing plan, and what type of proposal they present to the players on Thursday will determine whether the labor talks continue to gather momentum. …
Yet, it was always believed the two sides would eventually have to meet in the middle, and sources said there was momentum on Wednesday to get there.
“I think everyone is expecting miracles. It is still going to take some time even with a mediator,” one league executive said. “I don’t think Cohen has solved disputes in two days.”
Is 50-50 a fair deal? That’s for the two sides to decide. But it’s a revenue deal the sides are reportedly approaching, and if they want to agree, you certainly won’t find me standing in the way picketing.
Yet former Celtic Leon Powe made a lot of sense Wednesday night on his Twitter page, even if he did so without using proper grammar. If the players concede to a 50-50 split, that is more or less taking the entire brunt of the league’s losses and pinning it on the players. The league reported a loss of $300 million last season. A drop from 57% of BRI to 50% of BRI equates to the players shouldering $268.8 million of the owner’s losses, or 80.6% of the league’s losses, by my calculation. And that’s assuming the league actually lost as much as it said it did, despite reports of secondary ownership benefits like Cavs owner Dan Gilbert turning his Cavs ownership into two brand new casinos, which cast a shadow of doubt over the NBA’s balance sheets.
“We need a fair deal, we the players got to make up for everything, all of the lost. Which is not fair, if we got to miss the season, then ok,” Powe tweeted.
As usual, there are other blood issues. Adrian Wojnarowski said the biggest hurdle might be luxury tax proposals which the NBA wants to use to further discourage teams from overspending. The owners also want to limit Larry Bird rights and restrict teams over the cap from using the mid-level or bi-annual exceptions. And, they would like to take each player’s first-born child.