ESPN.com is reporting that the players will receive 48% of all revenue under the framework of the labor deal currently being discussed at the owners’ meeting in Rosemont, IL.
Here are the proposed details for the new Collective Bargaining Agreement:
• Players get 48 percent of “all revenue,” without extra $1-billion-plus off top that previously had been requested by owners.
• Players’ share will never dip below 46.5 percent, under new formula being negotiated.
• Teams required to spend minimum 90-93 percent of the salary cap.
• Rookie wage scale part of deal but still being “tweaked.”
• 18-game regular season designated only as negotiable item and at no point is mandated in deal.
• New 16-game Thursday night TV package beginning in 2012.
• Owners still will get some expense credits that will allow funding for new stadiums.
• Retirees to benefit from improved health care, pension benefits as revenue projected to double to $18 million by 2016.
I obviously have not been involved in these discussions and I’m not a lawyer. But in this simpleton’s opinion, this looks like a good deal for both sides (based on the information provided above, that is).
Considering the players will lose some of the revenue pie I think it’s safe to say they lost quite a bit of leverage over the past couple of months. But one of the big things that they were fighting for was improved health care and pension benefits for retired players, which is what that last bullet point highlights. And when you take into account that teams will be required to spend a minimum of 90-93% of the salary cap, the players should make out just fine under this new CBA.
Another big thing that the players are definitely against is the 18-game schedule. While that still appears to be an option for down the road, at least it’s not going to hold up the current discussions. It’s one less item that the two sides have to argue over right this second.
It’s nice to see that the framework for the new CBA is in place and the two sides continue to work together to reach common ground. It’s still a fluid situation so let’s not assume anything right now. But hopefully they won’t hit any more snags and the lockout will lift in the upcoming weeks.
