NEW YORK -- NBA commissioner David Stern says there was no quantifiable progress in collective bargaining talks over the summer, and the league has revealed it is seeking a reduction in player salary costs by about one-third.
Stern says the league wants player costs to drop by about $750 million to $800 million. Deputy commissioner Adam Silver says the NBA currently spends about $2.1 billion annually in player salaries and benefits.
Stern completed two days of meetings Thursday with his owners, who are seeking major changes to the current CBA that expires June 30. Silver says the league has repeatedly told the union that owners are in a "diseconomic situation," with projected losses of about $340 million to $350 million this season.
First of all, NBA has to have the worst contracts through out all sports. There's so many players being overpaid that I don't even know where to start. Maybe with Noah? 60M? SIXTY-MILLION??? That's Steve Nash money! This guy has no offensive skill set. No post moves for a big man. But he is a very hard worker and good defender/ great rebounder. Great energy guy on the floor. But come on lets be real here, 60M for Noah is ridiculous. Not to mention the shitty salary cap the NBA has, its way too low. With the way players have been being paid in the last 5-7 years too, it has to go up because it will be hard for players to accept a lower amount of money with the way its been lately and players thinking that they're worth more than what they are. The biggest potential year of basketball since [Michael] Jordan left, and there's a possibility of a lock out. Good job [David] Stern.
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