Players and owners square off in NBA lockout
The collective bargaining agreement between NBA players and owners expired on July 1, initiating a lockout. Players currently receive 57% of basketball-related income. Owners are lobbying for a more even split.
Owners claim most teams in the league are bleeding money, saying they lost a combined $300 million last year. Critics are skeptical of the grim picture owners paint. Teams are able to earn millions through local TV deals.
The players aren’t exactly hurting, either. They’re fighting a hard salary cap that would limit their extravagant contracts. The first two weeks of the season have been cancelled, prompting some players to join foreign leagues. We in Taiwan say, “long live the lockout!”