Day: February 27, 2023

NBA, NBPA Make Significant Progress On CBA NegotiationsNBA, NBPA Make Significant Progress On CBA Negotiations

The NBA and NBPA are making progress on negotations on a new collective bargaining agreement.

There has been significant progress in recent weeks on key issues and there is hope a deal can be finalized in the coming weeks. The two sides recently extended their opt-out deadline to March 31st.

The NBPA has informed the league office that it is their intention and goal to complete a deal in March.

“We want to finish this deal soon and certainly want this wrapped up before the (March 31) deadline,” one high-ranking source involved in the players’ negotiations, who was granted anonymity so they could speak freely, told The Athletic. “It’s close – we need to dot the I’s and cross the T’s.”

Among the most critical issues, the NBA and NBPA are negotiating new luxury-tax tiers and rates to increase the lower tier and make it more viable for teams to spend money into the tax. The NBA and NBPA are attempting to identify where the tax bracket tiers should be set.

Click here to read the full article

Marc Lasry To Sell His Stake In Bucks To Haslam Sports Group At $3.5 Billion ValuationMarc Lasry To Sell His Stake In Bucks To Haslam Sports Group At $3.5 Billion Valuation

Milwaukee Bucks co-owner Marc Lasry has reached agreement to sell his stake in the team to Jimmy and Dee Haslam of Haslam Sports Group. The valuation agreed to was $3.5 billion.

Lasry is selling his 25 percent share of the Bucks after nearly nine years of ownership. Lasry and Wes Edens bought the majority of the franchise from Herb Kohl in April 2014. Kohl still retains a significant minority investment in the Bucks.

Under Edens and Lasry’s ownership, the Bucks won the 2021 NBA Finals. The duo also helped push through the building of the Fiserv Forum. The Bucks have played there since October 2018.

The $3.5 billion valuation is the second-highest in NBA history, following the recent $4 billion valuation of the Phoenix Suns when Mat Ishbia purchased the team earlier this year. Haslam Sports Group also owns the NFL’s Cleveland Brown and MLS’s Columbus Crew.

Click here to read the full article