Report: NBA owners meet to discuss revenue sharing
The NBA owners reportedly met today in New York to discuss a potential new revenue-sharing program between high- and low-revenue teams, according to ESPN.
The establishment of a new system has been an important part of the negotiations between the players and owners in attempts to end the NBA lockout. Throughout the labor talks, the owners have reportedly claimed that small-market teams have lost money under the league’s current agreement. However, players have pointed out other deficiencies within the system. Commissioner David Stern has said that the league would discuss its revenue sharing system after a new collective bargaining agreement was in place between the owners and the players, but the players association has been adamant that the new system be included as part of the new agreement.
It was reported last night that despite ongoing talks between the two sides, negotiations had broken down. As a result, the league was expected to cancel more games, but the move has been put on hold because of a Wednesday meeting between players and owners. The entirety of the NBA’s preseason and the first two weeks of the 2011-12 campaign have already been nixed. The NBA lockout entered its 117th day on Tuesday. Many players have already signed contracts with teams overseas in anticipation of a canceled season.