The owners and players association met for four hours today in New York and by all accounts, some movement is being made toward a new Collective Bargaining Agreement which would prevent a lockout. The sides appear to be merging a bit more to the middle finally.
The owners, who are asking for a 10-year agreement, then came back with a counterproposal of their own. Owners offered what they called a “flex cap” system that would earmark at least $2 billion per season toward player salaries.
The owners also moved their position on cap exceptions, saying the Larry Bird Exception and the mid-level exception would remain in a new system, although teams could not exceed an as-yet-determined maximum team salary.
The sides agreed to meet again Friday in New York.
“We both made real moves, but we’re still very far apart,” union attorney Jeffrey Kessler said. Keep Reading…