Coronavirus: NBA players to have salaries cut by 25 per cent because of COVID-19 pandemic
The NBA and players’ union have agreed on the deal
Los Angeles: NBA players will have their pay cut by 25 per cent as the league reels from the COVID-19 pandemic that has shut down the NBA and the rest of American sports.
The NBA and NBA players’ union have agreed on the deal to subtract a quarter of their pay cheques beginning May 15.
The league, which hasn’t played since March 11, was scheduled to begin its postseason this weekend.
Once game cancellations become formalised, the collective bargaining agreement allows for the league to take back even more money from its players under a clause called “Force Majuere.” Government orders and pandemics, such as COVID-19, fall under that clause.
League executives have already had their salaries cut, a step taken by a number of other organisations including the Lakers, who asked top executives earlier this month to defer 20 per cent of their salary.