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Owners Relented on Key Issues
Posted By HOOPSWORLD On November 26, 2011 @ 7:35 pm In All,Headlines,NBA Headlines | No Comments
The players won concessions on two of the three issues, league sources said.
Owners still will retain 10 percent of every player contract and have the right to keep that money if total salaries go over the allotted percentage allowed in a given season for player salaries, but they will not be allowed to take additional money from benefits or future escrow to settle up, as the owners proposed roughly two weeks ago.
Teams under the salary cap now will be allowed to go as far as $4 million over the luxury tax threshold without restrictions to utilize the $5 million mid-level exception. For example, if the luxury tax is set at $70 million and a team’s payroll is at $68 million, they would be allowed to use the full $5 million.
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