Players with the highest salaries will be suffering the largest pay cuts.
The players of the National Basketball Association (NBA) will be forgoing about $480 million in pay this season, according to Basket News, which cites an anonymous source “familiar with” the league’s finances.
The NBA’s collective bargaining agreement stipulates that every season 10 percent of player salaries be placed in escrow to ensure a revenue split of 51 to 49 percent respectively between the players and the owners. Because the league has failed this season to meet its projections for basketball-related income (BRI), the players are retaining 90.9 percent of their salaries from last season.
Players with the highest salaries will be suffering the largest pay cuts.
