NBA Players Avoid Massive Financial Hit By Ending Boycott

By agreeing to end a boycott and to restart the playoffs in the near future, NBA players will be avoiding what could have been a financial disaster.

The 13 teams still in the league’s bubble in Orlando, Florida, debated canceling the rest of the playoffs. NBPA executive director Michele Roberts and senior counsel Ron Klempner said the decision not to move forward with the playoffs could force players to forfeit lose 25-30% of their salary for next year, ESPN reports.

During an informal vote in Orlando on Wednesday, the Los Angeles Lakers and Los Angeles Clippers had reportedly voted to end the season prematurely. The players changed their stance Thursday morning. They are set to meet with owners late Thursday in hopes of finding more ways to promote social justice.

Approximately $1 billion in television revenue is at stake for the NBA this postseason, The Athletic has noted. The league hasn’t gotten beyond the first round with nearly seven weeks to go until the last possible day of the 2020 NBA Finals.

In March, shortly after Utah Jazz center Rudy Gobert contracted the coronavirus and the league postponing the season, NBC Sports’ Tom Haberstroh estimated that the NBA could lose nearly $500 million by failing to sell tickets for the remainder of the season.

Every game in the bubble is being played without fans.

All of that lost revenue is expected to affect the salary cap for the 2020-21 season. Failing to finish the season would also give the league the opportunity to eliminate the current collective bargaining agreement.

Golden State Warriors star Stephen Curry is set to lead all players next season with a $43 million salary. A 30% hit would knock Curry’s pay for the 2020-21 season down to $30.1 million.

Twenty-one players, including 14 that play for teams still in the bubble, are signed to contracts that will pay them north of $30 million next season.

LeBron James, who reportedly walked out of Wednesday’s meeting early after voting to end the season, is set to make a $39.2 million salary after this season.

The NBA is expected to push back the Dec. 1 start date of next season, hoping to host fans in attendance for every game. NBA commissioner Adam Silver has said that roughly 40% of the league’s revenue comes from tickets and other in-game sales.