NBA owners, players inching closer on BRI
NBA owners and locked-out players are inching closer on the division of basketball-related income, CBSSports.com reported Tuesday.
The sides met individually Monday with federal mediator George Cohen, who also mediated the NFL’s labor dispute earlier this year. A joint meeting with Cohen began at 10 a.m. ET.
The report cited sources that said the players would accept 52 percent of BRI and the owners would accept 49 percent, leaving the sides about $85 million to $90 million apart on the division of over $4 billion in annual revenue.
The players had been receiving 57 percent of BRI from 2005 until the last CBA expired in June. Union chief Billy Hunter had said the players would not go below 53 percent, while NBA commissioner David Stern has said the owners would not come above 47 percent.
The sides still have differences on many issues, including the financial system. Players are diametrically opposed to anything other than a “soft” salary cap, while the owners want a system with a highly punitive luxury tax that the union says serves as a “hard” cap.
Stern already has canceled the first two weeks of the regular season and has said that Tuesday is a crucial day. A lack of progress could mean the cancellation of more games.