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The Coronavirus has put a large financial strain on the NBA and now, the players are feeling the effects.
Ever since the NBA was shut down on March 11th, players have been worried about what would happen to their paychecks. Of course, most people don’t get paid when they don’t show up to work, however, NBA players have their own union which allows them to be protected in extreme circumstances such as a pandemic.
It remains to be seen whether or not the season will have to be canceled but in the interim, the NBA and NBPA have been looking to strike a deal in regards to wages. According to ESPN’s Adrian Wojnarowski, both sides have reached a compromise. This deal will see players receive 25 percent less per paycheck, starting on May 15th.
This is a pretty good deal for the players considering the NBA wanted to see a 50 percent reduction in pay and were hoping to start said reduction in April. Now, the players have a bit more breathing room to plan out their finances over the coming weeks. While these players are certainly in much more stable financial positions than the rest of the country, there is no denying that this pandemic has been a shock to them and their livelihood.
If the NBA is forced to cancel the season, we will certainly see some heavier pay cuts in the near future.
The Coronavirus has put a large financial strain on the NBA and now, the players are feeling the effects.
Ever since the NBA was shut down on March 11th, players have been worried about what would happen to their paychecks. Of course, most people don’t get paid when they don’t show up to work, however, NBA players have their own union which allows them to be protected in extreme circumstances such as a pandemic.
It remains to be seen whether or not the season will have to be canceled but in the interim, the NBA and NBPA have been looking to strike a deal in regards to wages. According to ESPN’s Adrian Wojnarowski, both sides have reached a compromise. This deal will see players receive 25 percent less per paycheck, starting on May 15th.
This is a pretty good deal for the players considering the NBA wanted to see a 50 percent reduction in pay and were hoping to start said reduction in April. Now, the players have a bit more breathing room to plan out their finances over the coming weeks. While these players are certainly in much more stable financial positions than the rest of the country, there is no denying that this pandemic has been a shock to them and their livelihood.
If the NBA is forced to cancel the season, we will certainly see some heavier pay cuts in the near future.
