NBA wants 50 percent paycut for players: report
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The National Basketball Association is one of the many sports leagues across the globe losing out on money because of the coronavirus pandemic.
Due to the loss of millions of dollars, the NBA has proposed players take a 50 percent pay cut while games are suspended, according The Athletic. The potential pay cut would go into effect on April 15, which is the next standard NBA payday. However, the NBA Players Association has countered with a 25 percent pay cut that would begin in mid-May, The Athletic also reported.
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Players’ paychecks are spread out over the course of a year. The NBA pay schedule calls for 1/24th of a player's salary to be paid on the 1st and 15th of each month. However, players can negotiate different pay schedules as long as at least 20 percent of their base salary is given on standard NBA paydays.
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{{#rendered}} {{/rendered}}The NBA hasn’t had any games played in more than three weeks, and teams are finally starting to feel the lost revenue. The Philadelphia 76ers were one of the first organizations to enforce a 20 percent pay cut across the organization, but the team backtracked after criticism from fans, media, and people within the franchise.
On Friday, the Utah Jazz announced layoffs to non-basketball staff due to the coronavirus. Other employees agreed to reduce their compensation just so they could keep their employment with the team.
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{{#rendered}} {{/rendered}}The NBA, like many other leagues across the world, will continue to feel the impact of the pandemic as the season continues to be suspended. There has been no decision on what the league will do with the remainder of its season. NBA Commissioner Adam Silver already stated that the league won’t make any decisions until May.