Top Ad
I DIG Radio
www.idigradio.com
Listen live to the best music from around the world!
I DIG Style
www.idigstyle.com
Learn about the latest fashion styles and more...

NBA to pay salaries due April 1; uncertain after

Written by 
Published in Basketball
Friday, 20 March 2020 21:34

The NBA plans to deliver players their full salaries due on April 1 but left open the possibility of recouping future salaries for canceled games on April 15, according to a league memo shared with teams Friday.

As the coronavirus pandemic paralyzes the NBA and nation, the canceled games and loss of revenue are causing the league to leave itself financial flexibility based on the force majeure provision in the collective bargaining agreement.

Force majeure allows for the withholding of 1/92.6 of a player's seasonal salary per canceled game based upon catastrophic circumstances. The provision encompasses several scenarios, including war, natural disasters and epidemics/pandemics. (For the purposes of force majeure, the league considers each team to have played five preseason games, 82 regular-season games and 5.6 playoff games.)

The NBA plans to inform teams and players ahead of the April 15 payment date about the league's intentions, the memo said. Players on a payment schedule of 12 installments that began Nov. 15 will have been paid 90% of their salary after the April 1 payments, according to ESPN's Bobby Marks. For the players who chose to be paid over the entire calendar year starting on Nov. 15, a projected 60% of their salary will still be owed.

Commissioner Adam Silver suspended play March 11 after Utah's Rudy Gobert tested positive for the coronavirus. NBA games are lost every day, practice facilities have been shuttered indefinitely, and Silver said it's unclear when -- or even if -- the NBA season can resume.

The league has been pursuing arena dates through the end of August in hopes of pushing back the season and minimally salvaging the playoffs. NBA owners are bracing for massive financial losses -- especially if the season is unable to resume.

If the NBA exercised the force majeure to reflect missed games now, the league could pay the players later if those games were made up during a later resumption of play. Most players are paid in 24 checks annually, and the first 12 checks include the 10% escrow tax.

Even before the coronavirus outbreak, the league had been projecting that the players would not receive 100% of their escrow back.

Read 1930 times

Soccer

NL game abandoned after Kosovo players walk off

NL game abandoned after Kosovo players walk off

EmailPrintOpen Extended ReactionsThe UEFA Nations League match between Romania and Kosovo was suspen...

Ghana fail to reach AFCON for 1st time since '04

Ghana fail to reach AFCON for 1st time since '04

EmailPrintOpen Extended ReactionsGhana failed to reach the Africa Cup of Nations for the first time...

Chawinga available as KC seeks NWSL final berth

Chawinga available as KC seeks NWSL final berth

EmailPrintOpen Extended ReactionsKansas City Current forward and 2024 NWSL Golden Boot winner Temwa...

2026 FIFA


2028 LOS ANGELES OLYMPIC

UEFA

2024 PARIS OLYMPIC


Basketball

Sources: NBA discussing tourney-style AS Game

Sources: NBA discussing tourney-style AS Game

EmailPrintOpen Extended ReactionsThe NBA is in serious discussions on a new tournament-style format...

Jokic (personal) out for Denver's NBA Cup opener

Jokic (personal) out for Denver's NBA Cup opener

EmailPrintOpen Extended ReactionsThree-time league MVP Nikola Jokic will miss the Denver Nuggets' NB...

Baseball

Low and inside: O's will again alter LF dimensions

Low and inside: O's will again alter LF dimensions

EmailPrintOpen Extended ReactionsBALTIMORE -- The Orioles are ready to adjust their wall in left fie...

Dodgers' Graterol (shoulder) to sit first half of '25

Dodgers' Graterol (shoulder) to sit first half of '25

EmailPrintOpen Extended ReactionsLOS ANGELES -- Dodgers right-hander Brusdar Graterol will miss the...

Sports Leagues

  • FIFA

    Fédération Internationale de Football Association
  • NBA

    National Basketball Association
  • ATP

    Association of Tennis Professionals
  • MLB

    Major League Baseball
  • ITTF

    International Table Tennis Federation
  • NFL

    Nactional Football Leagues
  • FISB

    Federation Internationale de Speedball

About Us

I Dig® is a leading global brand that makes it more enjoyable to surf the internet, conduct transactions and access, share, and create information.  Today I Dig® attracts millions of users every month.r

 

Phone: (800) 737. 6040
Fax: (800) 825 5558
Website: www.idig.com
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Affiliated