 "Coronavirus Outbreak: NBA players to take 25 per cent paycut from 15 May amid COVID-19 pandemic"){kind=logo}
The NBA has reached an agreement with the National Basketball Players Association to withhold 25 per cent of each player’s salary from 15 May due to the shutdown of the sport because of the coronavirus pandemic.
The deal would provide a gradual reduction in player salaries in case a “force majeure” event, such as the pandemic, wipes out the rest of the regular season.
The money will be placed in escrow and paid back to players if all of the remaining regular season games are played, ESPN reported.
If only part of the season can be played, the amount paid out would be on a pro rata basis based on the number of games completed. The salary reductions will continue through the first two months of the 2020-21 NBA season, ESPN said.
The NBA has not held a game since 11 March and it is unclear when it might return to action.
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