As the NBA lockout is set to begin after the stroke of midnight, and San Antonio Spurs owner Peter Holt was not satisfied in what the players union proposed according to the NBA’s deputy commissioner Adam Silver via TNT’s basketball analyst David Aldridge via Twitter:
Silver: players recommended system w/$6M avg salary in year six, $7M in year seven. Spurs owner Peter Holt said that was unacceptable.
Holt is in the same ball park as a lot of the smaller NBA markets. For him and the Spurs franchise, these negotiations have to be productive and profitable because for teams like San Antonio, Milwaukee, Memphis, etc., they need more financial support in the event the market isn’t going so well. Not to mention staying competitive with other large market teams such as Los Angeles, New York or Chicago while not losing money.
As Project Spurs’ Trevor Zickgraf reported earlier:
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%.
Hang on tight Spurs hand, this could be a bumpy ride.
(Photo: Getty Images)