NBA Kings Begin Arena Construction Cavs Owner Gilbert Unfazed By Luxury Tax World Series Seen As Fitting Send-Off For Selig NBPA Announces Senior Management Team Second Vegas Arena Eyes NBA Team IndyCar Announces '15 Schedule Hornets Make Debut After Rebrand Blazers' Dynamic Pricing Highly Variable NBA Marketing Notes NFL Team Could Bring U.K. More Than $250M A Year
Upcoming Conferences and Events
SBD/2/Leagues Governing Bodies
DETAILS EMERGE ON REVISED NBA BARGAINING AGREEMENT
Published July 2, 1996
The labor agreement between the NBA and its players, which is now before the union membership for ratification, would bring the players $80M in "additional money" over the term of the five- year deal, according to the WASHINGTON POST. The players would receive an extra $50M in pension money, $28M the sale of the union logo, and 50% of profit-sharing revenue above $36M in the league's TV contracts with NBC and TNT. In addition, the players gained revised salary cap rules allowing for more player movement, "financial independence" for the NBPA, and placement of the union logo on merchandise and at events such as All-Star Weekend. In exchange, the NBA's annual draft will remain at two rounds. Also, the league can "recoup" as much as $21M of the $28M in logo fees, "if the players' share of licensing revenues reaches certain levels." NBA Commissioner David Stern declined to discuss specific terms, but he did call the give-back of the second round "part of the trading." Unchanged from last summer: Unrestricted free agency; 50-50 split of other revenues; increase of players' group licensing to $25M; rookie wage scale; increased minimum salaries (Mark Asher, WASHINGTON POST, 7/2). HOOPS NOTES: The Supreme Court has refused to revive former ABA player Joe Caldwell's antitrust suit against the now-defunct league. Caldwell had alleged the ABA conspired to keep him out of the league because of his role as head of the players association (AP/N.Y. TIMES, 7/2)....Shaquille O'Neal denied statements by his agent, Leonard Armato, that he might not have played in Atlanta if not properly insured. O'Neal: "Leonard said that; I'm not Leonard. I call the shots" (WASHINGTON POST, 7/2)...."NBC Nightly News" noted a survey shows basketball is the most dangerous sport in America, producing 694,000 injuries last year, followed by cycling, football, skiing, skating and baseball (NBC, 7/1).