By Eurohoops Team/ firstname.lastname@example.org
Despite still hoping for the 2019-20 season to resume, the NBA and NBPA are preparing for the possibility of salary reductions for players, ESPN’s Adrian Wojnarowski reports. The season is suspended at his point, but canceling games will automatically trigger the force majeure provision.
Noted in the report, the NBA and NBPA are considering withholding up to 25% of the players’ remaining salaries. According to the latest CBA, players will lose approximately 1% of their salary per canceled match. However, the NBA is not ready to announce the cancellation of games in the immediate future.
The league has committed to paying full salaries on April 1. Also, top-earning executives took 20% reductions in base pay last week. The force majeure may also give the NBA the ability to renegotiate the current Collective Bargaining Agreement.
Everything above confirms the coronavirus COVID-19 pandemic carries a financial impact as well, not only in the NBA but all around the world. Health security remains the top priority but such effects are steadily surfacing.
The NBA remains hopeful that the season will resume with a part of the regular season before entering the postseason. League executives are discussing various formats including games behind closed doors in a single city to ultimately determine a champion.
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