NBA Agents issue warning letter to players over the labour deal – Lockout News
Six of the most powerful player agents in the NBA pooled together their resources and wrote a joint letter to NBA players on Monday, warning them not to rush into a new Collective Bargaining Agreement (CBA) with the NBA.
The agents include Mark Bartelstein of Priority Sports and Entertainment, Leon Rose and Henry Thomas of Creative Artists Agency, Arn Tellem of Wasserman Media Group; Bill Duffy of BDA Sports; Dan Fegan of Lagardere Unlimited and Jeff Schwartz of Excel Sports Management.
The letter was jointly composed by all of the above and in the content, it warned the players of severe consequences if they rubber stamped a deal hastily. Agents have previously been rumoured to be unhappy at the way negotiations have gone between the NBA owners and National Basketball Players Association or NBPA. They have even been blamed of pushing for a decertification, which earned them public retorts from some of the senior players and office bearers of the NBPA.
It seems though, that now they have decided to make their voices heard as the negotiations enter a crucial stage. The letter issued to the players by agents does not talk about a decertification, but it does contain a veiled criticism of NBPA over conceding ground to NBA Commissioner David Stern.
Agents believe the players will suffer considerably by agreeing to a much lower percentage of BRI than the 57 percent, they were guaranteed in the previous CBA. The letter also heavily criticizes a number of points in the NBA proposal, especially the “claw backs” designed to take money from the NBA players.
“This results in at least 8% or more of your salary being withheld by the owners each season through the escrow withholding. This applies to all contracts, including contracts signed before the lockout. You may never receive this money back.” Agents have said in the letter.
The letter said the players will be relinquishing around $200 million each year to the owners.
“The NBPA offered to reduce the players’ share of BRI from 57% to 52%. This will result in a transfer of over $200 million per year or a minimum of $500,000 per player back to the owners.”
NBA has demanded a reduction in the Mid-Level Exception salary and contract length from the players in their proposal for a new CBA. They also want limitations on Bird rights. Agents have blasted such demands from the owners, stating;
“This will severely restrict usage of these very important exceptions and harm your ability to negotiate a fair contract.”
If the NBA players pay heed to the warnings by the agents, the negotiations could take a turn for the worst in the coming days because David Stern has refused to bow down to any of their demands so far. If the players, as urged in the letter, take a hard stance too, then it will be very difficult for negotiations to move forward.
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