After a three-hour meeting in New York City, NBA owners informed the NBA Player's Association that they would be locked out at 12:01 eastern standard time. None of the parties involved seemed especially surprised by this news and both sides remained cordial after the meeting was over, at least in front of the media.
Here is what San Antonio Spurs' Matt Bonner had to say about the lockout:
"We tried to avoid the lockout," Spurs forward and union VP Matt Bonner said. "Unfortunately we did not reach a deal. We’re going to keep working at it and hopefully get something done."
Owners are seeking a large overhaul from the current financial system. Depending on what report you read, anywhere from 17 to 22 teams lost money last season. Under the current deal, players pull in 57% of the basketball related income (BRI). Several different analysts say the end game for the owners is to get the number down to 50%.
The last time this happened in 1998, a deal wasn't struck until January of 1999. Not sure how these negotiations will unfold, but I'm sure owners, players and fans alike are hoping a deal gets done before that.
Also, the Spurs are 1-0 in lockout shortened seasons, so us Spurs fans have got that going for us.
you know, i have to say i am on the owners side of this thing. without the owners the players have no teams, and 50/50 split is more then reasonable. i would not offer 50% of my company to any one or all of my employees (i am a business owner also). unions in general are just bad news these days, 20-30-40-50 years ago they served a solid purpose, today they do nothing but get greedy and try to break the very people who would pay for their lively hood. i would never expect players to give up salary to the point of the 1970s but in this economy, and considering a pay cut CAN (and should) mean lower ticket prices for FANS to go watch them PLAY A DAMN GAME, i say take the deal, lets get back to work! not sure the exact numbers off hand but i believe the 2 billion offered would come to about a $600,000 pay cut off the average salary. now 600k sounds like a lot until you consider it is something like 4.2 mil down from 4.8 mil.
ok, guys thanks for the place to rant slightly, im gonna cut it short before i go off on the UAW, and the teamsters and seiu and the list goes on and on.