From Howard Beck of The New York Times, reporting on what has been agreed to by the owners and the players:
“There will be a one-time “amnesty” provision that will allow each team to waive a player (with pay) without his salary counting against the salary cap. There will be a “stretch” exception, available every year, allowing teams to waive players and stretch out their remaining salary over a number of seasons, thus reducing the annual salary-cap hit. The midlevel exception will be set around $5 million, a decrease of $800,000, but more than double what the owners were seeking. The parties are still wrangling over contract length and annual raises attached to the exception. Assuming the revenue split can be resolved, the parties will still have to tackle the luxury-tax system, which is just as thorny. But first they have to start talking again.
THis is a good thing.
Stretch exception – Named after this guy no doubt. LOL
Willie Lee McCovey (born January 10, 1938 in Mobile, Alabama), nicknamed “Mac”, “Big Mac”, and “Stretch”, is a former Major League Baseball first baseman.
https://secure.wikimedia.org/wikipedia/en/wiki/Willie_McCovey
It is World Series time. so excuse the baseball related pun
Some overpaid players and there are too many will going to head of the list once they agree on a deal and can do player transactions.
“But first they have to start talking again”….which would require somebody to pick up the phone and arrange a meet …… sit down at the table without engaging in tantrums, aggravated rhetoric, self-important grand-standing, preaching about lofty ideals, and it might require the Players take a couple of math courses and quit playing the whining Blame Game.
Maybe the Owners should come in and start demanding (before agent fees and expenses) 52.5% of all the players sponsorship contracts since those are also Business Related Income –and without the NBA, there would be no sponsorship contracts.
I’m going to watch football.