The NBA Board of Governors and the Players’ Association will hold separate meetings on Thursday, which is expected to culminate with an agreement to start the 2020-21 season on December 22 and stick to a reduced schedule for 72 games, sources told ESPN.
The National Basketball Players Association plans to hold a formal vote of team player representatives late Thursday, and sources told ESPN that everything is moving towards an agreement on a pre-Christmas start of the season. The NBPA is hosting team conference calls this week, including several on Wednesday, that will have in-depth discussions with the league about a payroll for players in the 18% range for the next two years, sources told ESPN.
According to sources, the team representatives are expected to approve the agreement.
The league and players are still negotiating this trustee figure, sources said.
NBA Commissioner Adam Silver and the Board of Governors await formal adoption on Dec. 22nd, and both sides expect it to happen this week, sources said.
Organizations and players are urgently pushing for a quick turnaround at the start of the season, including the November 18 NBA draft, free agency and December 1st training camps. Once an agreement is reached, the league will lift a moratorium and reopen the league for commercial business before the draft.
The league expects a December 22nd launch that includes Christmas Day TV games and a 72-game schedule that ends before the Summer Olympics in mid-July will generate short and long-term revenues of between $ 500 and $ 1 billion Dollar points to the league and the players, sources said.
The NBA and NBPA have discussed a significant increase in the fiduciary of player salaries to account for the severe losses in league revenue during the COVID-19 pandemic. The teams work to spread the players’ losses over several seasons so that the players do not have such great financial success in one year.
The NBA has postponed a deadline until Friday that leaves open the option to terminate the collective agreement, which would essentially blow up the league’s financial structure that allows for a 50/50 split of basketball income under the terms of the CBA . Due to the pandemic that triggers a force majeure clause in the CBA, both sides have the option of giving 45 days’ notice upon termination of the contract.
The league recently announced to teams that 40% of basketball income this season could be lost with no gate revenue. The NBA’s basketball income fell $ 1.5 billion last season. This is based on data provided to the teams and received from ESPN.
Most NBA cities still cannot hold public gatherings with more than 500 people. The NBA plans to start the season with no fans in the arenas – with little confidence that they can return anytime early in the season if a second wave of the coronavirus pandemic spreads across the country.