A little-known provision of the previous collective-bargaining agreement between the NBA and its players will provide some money to the players during the lockout:
The escrow funds — representing eight percent of each NBA player’s salary — are held back each season to ensure that the players’ share of basketball-related income does not exceed the contractually agreed-upon percentage, currently 57 percent. This year, for the first time since the system was introduced in the collective bargaining agreement that came out of the 1998-99 lockout, the cut to players will fall short, sources with the NBA and the National Basketball Players Association confirmed.
When a final audit is completed later this month, the players will have been paid less than 57 percent of BRI and will be due the entire $160 million. It’s the first time the players will have the full escrow returned, a union spokesman said.
The owners, of course, hope to have that percentage adjusted downward in the next CBA. In the meantime, Serge Ibaka, one of the lower-paid Thundermen, will be getting a check for 0.08 x 1204200 = $96,336. Less taxes, of course.