We’re living some hard times right now. The world is holding on to try and beat the COVID-19 but as people are in quarantine, local businesses are shutting their doors and are unlikely to recover from the financial implications of this pandemic, at least in the short-term.
Naturally, this means everybody must make sacrifices in these demanding times, especially those who are wealthier than most. Celebrities, venture capitalists, businessmen, and athletes are all chipping in to try and mitigate the economical impact of this catastrophe.
Thus, the NBA has proposed that all players take a 50% salary reduction beginning April 15, considering the league is no longer receiving any revenue money for tv rights with the league still on hold. The NBPA, however, has made a counterproposal that would see players take a 25% salary cut starting mid-may, as reported by Shams Charania of The Athletic.
Sources: The NBA is proposing to the NBPA that players take a 50 percent paycheck reduction beginning April 15. The NBPA has counter-proposed a 25 percent reduction of paychecks starting in mid-May.
— Shams Charania (@ShamsCharania) April 3, 2020
So it’ll be interesting to see whether both the NBA and the NBPA can find some common ground and solve this issue right away. Several NBA players have vowed to help their communities during the pandemic, either covering the salaries of arena players or donating funds for research and prevention.
The regular season has been on hold since Rudy Gobert tested positive for coronavirus a couple of weeks ago and the first reports claimed that that pause will last at least one month. Nonetheless, it’s unclear whether the season will be resumed (and when) or if it’ll be canceled.
Obviously, canceling the season will be a major financial blow for all NBA franchises and players, let alone the fact that the Larry O’Brien trophy will be vacant for one year. That impact is most likely going to be seen in this upcoming free agency as well, as the salary cap is likely to take a significant hit.