The NBA Lockout and Its Effects
Yesterday was the deadline for the players and owners to agree on a new collective bargaining agreement before the first two weeks of the regular season would be cancelled. The players and owners could not come to an agreement. Almost 100 games were subsequently cancelled. The owners want a 50-50 revenue split with the players. The players received 57% of the revenue under the old agreement. For the average fan like myself, the split of billions of dollars should occur like their lives depended on it. Many persons are facing one of the toughest job markets in our lifetimes. Some say we are in the midst of a double dip recession. The President is trying to push through a jobs bill that will help people get hired. The NBA players have jobs and claim that they don't want to sign a bad deal for future players. If I'm making $22 million, like one NBA player would be under the old contract, I think I could still survive making say $15 million. Wow!! Even the superstars like Dirk, Kobe and Dwayne could stand to take a pay cut. Instead of threatening to go overseas, swallow your pride and realize that the new economic reality is causing everyone to tighten their belts.