49ers Take Another Image Hit With Brooks Charge Questions Remain In Phillies' Front Office Jim Buss Remains Optimistic About Lakers Leonsis Weighing Wizards Practice Facility Spots White Sox To Host Faith Day Franchise Notes Bayern Munich Partners With Columbia Univ. Blank Hiring CEO To Oversee Teams, Business Redskins, Native Americans Ordered To Mediation Minding My Business: Hornets' Donna Julian
LACK OF NBA LABOR DEAL WILL SAVE RAPTORS/GRIZZLIES BIG BUCKS
Published November 30, 1994
The NBA has given both the Grizzlies and the Raptors a "respite worth almost C$70m each." Since the NBA is currently operating without a collective bargaining agreement, the Candadian teams will not have to make a 40% installment payment on their US$125M expansion fees by December 1. The payment, now due on March 1 or 30 days after a CBA is signed, is valued at around $50M. NBA spokesperson Jan Hubbard: "The expansion agreement says that on the December 1st date, if there is no CBA, the payment date can be waived." Both the Grizzlies and the Raptors declined comment, but Grizzlies managing partner Arthur Griffiths is "believed" to be "breathing a sigh of relief from a cash-flow point of view," since his Canucks are not generating revenue (Craig Daniels, TORONTO SUN, 11/30).