The NBA office announced their most recent proposal to the players association on Monday night, via their Twitter account.
The proposal includes a “50/50 split in band of 49-51% as suggested by mediator” George Cohen, no hard cap, fully guaranteed contracts, no “rollbacks” to existing player contracts and the midlevel exception will start at $5 million in year one and grow.
“[The] NBA system will have 30 teams spending [between] $2B & $3B per season,” the league tweeted. “Enormous opportunity for all free agents.”
The proposal comes following an ultimatum from NBA Commissioner David Stern that said the players must accept the latest proposal or risk facing a worse labor deal. “Rather than simply proceeding, as we could have, to offer a less favorable proposal at this time, the N.B.A. is providing an additional period of time for the players association to consider our 50/50 proposal,” Stern wrote. “We are hopeful that the prospect of a less favorable outcome for the players will prompt the players association to realize that the best deal that can be reached is the one the N.B.A. is prepared to make right now.”