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View Full Version : Union advises agents to plan for lockout in new contracts.


jthig32
07-01-2010, 01:33 PM
Link (http://sports.espn.go.com/nba/news/story?id=5346015)

The NBA Players Association, in a brief but sober memo circulated to player agents mere hours before the start of free agency, has issued its latest warning about a possible lockout in 2011.

The memo, obtained by ESPN.com, advises agents leaguewide who are worried about players who might have "difficulty budgeting" over the next year in advance of a potential lockout "can and should negotiate an 18- or 24-month payment schedule for [their] 2010-11 salary."
The memo continued: "This will allow [the player] to receive paychecks throughout the course of the 2011-12 season, regardless of any lockout."

Fears about a work stoppage have spread throughout the league in recent months, largely because the players' union reacted angrily to a proposal on a new labor agreement from NBA owners that called for major salary cuts and reductions in contract lengths.

Union chief Billy Hunter has strongly disputed a claim made by NBA commissioner David Stern in February that the league was poised to lose some $400 million this past season.

The players association held its annual summer meeting last week in Las Vegas, with Hunter pledging that a counterproposal to the league would be submitted within days.

The memo also advised agents that the union is "optimistic" the salary cap and luxury-tax threshold for the 2010-11 season will be "higher than the league's earlier projections, which called for a significant decrease from last year's amounts."

It is believed, however, that the union was referring to the league's gloomy projections from a year ago -- when it was suggested that the salary cap could drop all the way from the current figure of $57.7 million to the $50 million range -- as opposed to more recent projections.

The most current projections used by teams throughout the league have next season's salary cap falling slightly to $56.1 million, with a luxury tax threshhold of $68 million.

The memo also said the official cap and tax numbers will be confirmed on the night of July 7, with July 8 serving as the first day teams and players actually can sign new contracts.

Labor negotiations are expected all summer. Last month, during the NBA Finals, Stern said hashing out a new deal that avoids a lockout is "No. 1 on our agenda" for the offseason.

Two responses:

1. It's sobering to remember that one of Dirk and Kidd's final remaining years is going to be marred and possibly even eliminated by this lockout.

2. It's absolutely stunning to me that agents have to worry about players needing constant paychecks. I guess it shouldn't be that surprising, but I have a hard time wrapping my head around multi-millionaires living paycheck to paycheck.

SMC0007
07-01-2010, 02:57 PM
Link (http://sports.espn.go.com/nba/news/story?id=5346015)



Two responses:

1. It's sobering to remember that one of Dirk and Kidd's final remaining years is going to be marred and possibly even eliminated by this lockout.

2. It's absolutely stunning to me that agents have to worry about players needing constant paychecks. I guess it shouldn't be that surprising, but I have a hard time wrapping my head around multi-millionaires living paycheck to paycheck.


No kidding, all the entourages, crews, bodyguards, partying, expensive habits and hobbies. Then there's Mike Vick which brings this to a whole new level, dog fighting, seriously.

Dirkenstien
07-01-2010, 11:01 PM
Joe Johnson - $100M-$120M
Rudy Gay - $82M
John Salmons - $39M
Drew Gooden - $32M
Channing Frye - $30M

If I wasn't convinced before, I'm starting to get there. These contracts are all getting pretty crazy.

BGMaverick9
07-02-2010, 12:15 AM
Link (http://sports.espn.go.com/nba/news/story?id=5346015)



Two responses:

1. It's sobering to remember that one of Dirk and Kidd's final remaining years is going to be marred and possibly even eliminated by this lockout.

2. It's absolutely stunning to me that agents have to worry about players needing constant paychecks. I guess it shouldn't be that surprising, but I have a hard time wrapping my head around multi-millionaires living paycheck to paycheck.

It's the entourages, the new-found family members, etc...you name it, it just eats away at your funds.