Written by Administrator on Friday, 01 July 2011 03:41
NBA Lock OUT
NBA Lock OUT Its Official, the NBA lockout began at 9:01 p.m. PDT. It will last until players and owners can agree on a new collective bargaining agreement, one owners demand must give all teams a chance to profit. Owners insisted they were losing money, perhaps $300 million this season, and they weren't interested in subsidizing a system they felt guaranteed they would keep losing more.
The players and the owners held their final meeting at the Omni Berkshire hotel just hours before the scheduled expiration of the current collective bargaining, and could not make enough progress to come up with a new agreement. Spurs player rep Matt Bonner
”We tried to avoid a lockout, but we couldn’t get a deal,”, who was in the meeting, said. “We’re going to keep working at it.”
San Antonio's Matt Bonner, vice president of the NBA Players Association, said after the three-hour meeting that the players and owners "tried to avoid a lockout. Unfortunately we could not reach a deal."
Players, who previously offered to reduce their salaries by $500 million over five years, considered the owners' proposal for a "flex" cap, where each team would be targeted to spend $62 million, a hard cap. Although the league said total player compensation would never dip below $2 billion over the life of its proposed 10-year deal, that would amount to a pay cut for the players, who were paid more than $2.1 billion this season in salaries and benefits.
There was little actual progress made during the three-hour meeting, and no further meetings have been set up. Its NOT the players that are the issue..Bottomline the NBA coaches want that NFL coach money!! They are sick of the high price tag players....they want some MONEY TOO! Are they being greedy?