Sports Agent InformationThe NBA is currently under a lockout that began on July 1, 2011, when its collective bargaining agreement expired. It is the third major work stoppage in NBA history and came at the same time as the NFL was trying to end its own work stoppage that began in March.
The discrepancy, of course, comes down to money. The NBA owners are claiming losses for more than $300 million last season and want to reduce the players’ guarantee of 57 percent of basketball revenue.
As a result, all league business is officially on hold, starting with the free-agency period that would have begun on July 1. Unfortunately, any prolonged lockout will also have a strong effect on the NBA online bookmaking for next season.
Despite frequent meetings last month and a three-hour meeting and final proposal from the players, the parties could not bridge the gap that divides their positions. Both players and owners remain far apart in every major issue, from salaries to the salary cap, revenues to revenue-sharing package.
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The NBA also cancelled its entire summer league in Las Vegas, while preseason games in Europe were never scheduled. In addition, players might have to decide if they want to risk playing in this summer’s Olympic qualifying tournaments without the NBA’s help in securing insurance in case of injury.
The last NBA lockout reduced the 1998-99 season to 50 games, the only time the NBA missed games for a work stoppage. But with the lockout, players won’t be the only ones affected. Employees of teams and the league also face a very uncertain future.
Finally, in case you’re wondering, Major League Baseball is next on the clock with its collective bargaining agreement expiring on next December 11.