NBA Aiming To Implement Salary Cap Amid CBA Talks
The National Basketball Association is reportedly aiming to update its Collective Bargaining Agreement (CBA) with the union to implement a firm salary cap. Much like the National Football League, the installment of a salary cap would limit how much a team is allowed to spend on their rosters. As it stands, the league’s salary cap system operates with a “luxury tax”.
In the NBA, the luxury tax serves as an extra charge for teams that spend more on their payroll, and redistributes the excess to the teams that pay less, in a bid to curb excessive spending and ensure that money is distributed appropriately between players and owners. An official reportedly stated that the union does not plan on agreeing with the salary cap proposal.
Golden State Warriors Owner Joseph Lacob was fined $500,000 for a violation of league policy regarding the CBA. Lacob reportedly criticized the luxury tax system, when guest speaking on the Point Forward Podcast.
“The hardest thing of all is navigating this luxury tax, unfortunately,” he said. “I went back to New York this week for labor meetings. I’m on the committee. And you know, obviously, the league wants everyone to have a chance and right now, there’s a certain element out there that believes we ‘checkbook win,’ we won because we have the most salaries on our team.”
In 2021, the Warriors spent approximately $350 million in combined salary and luxury tax. This season, the Warriors are trending upwards to reaching $360 million in total spending, which is more than four times the spending of the San Antonio Spurs and more than double the league average.
FOX News has more HERE.