Maloofs pushing for shorter contracts
Sacramento Kings owners Joe and Gavin Maloof are among the NBA owners who want shorter guaranteed contracts in the next collective bargaining agreement, the Sacramento Bee reported Sunday.
However, the report also said that the Kings owners are not among those willing to cancel the season because the franchise is trying to raise funding for a new arena that would allow it to remain in Sacramento.
The NBA lockout has entered its fourth month, jeopardizing the start of the season. There was a seven-hour bargaining session Saturday in New York that yielded little tangible progress.
One of the primary issues is guaranteed contracts and their length. The union is steadfastly opposed to the elimination of guaranteed deals, and the owners would like to reduce their length, if not remove them altogether.
The Maloofs re-signed free agent forward Chris Webber to a seven-year, $122 million contract in 2001 that limited their financial flexibility when Webber suffered a knee injury in the 2003 playoffs that required microfracture surgery.
In Feb. 2005, the Kings traded Webber with Matt Barnes and Michael Bradley to Philadelphia for Brian Skinner, Kenny Thomas and Corliss Williamson. Webber ultimately received a buyout from the 76ers in 2007.