NBA owners and the player’s union met for over seven hours Monday but could not come to an agreement to save the entire 2011-12 basketball season. NBA commissioner David Stern announced Monday night that because no deal was in place, the first two weeks of the NBA season were officially canceled.
The two sides still disagree about the BMI, maximum lengths of contracts, taxing the big-spending teams, the midlevel exception and more. The number one issue remains splitting the league’s revenue, known as the basketball-related income (BRI). Stern insists on a 50-50 split down the middle but the union will only come down to 53%…they were previously at 57%.
“We remain very, very apart on all issues,” David Stern said outside a New York hotel. “With every day that goes by, there will be further reductions on what’s left of the season.”
Because most teams are losing money, it is imperative that the weakest franchises stabilize. According to Forbes.com, the Indiana Pacers lost $17 million last season and $16 million in 2009. At the other end of the spectrum, the New York Knicks brought in a league-leading $64 million, and the Bulls earned $51.3 million.
The NBA is based on stars more than any other league. It is not good for the health of the league when superstars gather on the same team like Miami and New York have done for example. That’s one thing this new collective bargaining agreement is trying to prevent.
Lockouts are never any fun but they usually make the league stronger in the longer run. The NBA had much improved ratings last year and was thriving after a very popular year. They will get this done, but not until paychecks are missed because only then will this problem finally be felt by players. They don’t like training camp or preseason, so they won from that standpoint.
Due to the first two weeks because canceled, Indiana will miss seven schedule games including three home contests:
at Detroit, at Oklahoma City, vs. Boston, vs. Houston, at Milwaukee, vs. Phoenix, at New York
Tuesday, Pacers owner Herb Simon sent out the following email to fans.
As a Pacers Insider, we wanted to update you on the recent developments surrounding the collective bargaining process.
By now you have heard, despite extensive efforts, the NBA has not reached a new collective bargaining agreement with the players’ union. As such, we have reached the point on the calendar where it is not feasible to begin the regular season as scheduled. Therefore, the NBA has had to cancel the first two weeks of the regular season, including all games through November 14.
I personally share your frustration that an agreement has not yet been reached. With the momentum that has been building over the past few years, leading up to the thrilling finish last season, I am excited about our future.
Nevertheless, we will continue to keep you informed and aware of any updates related to the collective bargaining agreement.
Thank you for your continued support. Your passion and pride for Pacers basketball is truly appreciated.
Sincerely,
Herbert Simon
Owner/Chairman & CEO
Pacers Sports & Entertainment
Things are going to get worse before they get better. During the last lockout, the league only played 50 games in the 1998-99 season.