Last Updated: 18/04/20 7:38am
Partial pay reductions of 25 per cent will begin with the players’ twice-a-month payment due on May 15
The NBA has reached an agreement with the National Basketball Players Association to withhold 25 per cent of each player’s salary from May 15 due to the shutdown of the sport because of the coronavirus pandemic.
The deal would provide a gradual reduction in player salaries in case the pandemic wipes out the rest of the regular season.
The money will be reportedly placed in escrow – a temporary measure where assets are held by a third party – to be paid back to players if all of the remaining regular season games are played.
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If only part of the season can be played, the amount paid out would be on a pro rata basis based on the number of games completed.
Reports suggest the salary reductions will continue through the first two months of the 2020-21 NBA season.
The NBA has not held a game since March 11 and it is unclear when it might return to action. The league is set to discuss next steps before May 1.
Plans under consideration include a 25-day ‘up-ramp’ period – including 11 days of individual work before teams come together – before games would resume.
The NBA regular season was scheduled to end last Wednesday (April 15).
