The "Millionaires vs. Billionaires Pissing Contest" Is Over!
IT'S OVER!!! The lockout is finally over. Less than a day before
the league governors were to vote on whether or not to cancel the season,
David Stern and Billy Hunter reached an agreement after they pulled an
all-night meeting.
The new deal marks the first time in professional
sports there is a maximum salary. 1-6 yrs can make up to $9 million, 7-9 yrs
can make $11 million, and 10+ yrs can make $14 million. These salaries
can also rise 12.5% annually. Rookie contracts will depend on where they were
drafted and they now have to stay with there drafted team for 5 years instead
of the previous 3 years. (Thank God) The players minimum salaries were
also raised. Rookies make at least $287,500 and vets will be based on
a sliding scale based on time of service from $350,000 to $1 million.
Players can receive any percentage of league revenue in the first 3 years
of the agreement, a maximum of 55% in the next 3 years, and 57% in the
7th option year if the league decides to pick up the option.
This season
will begin on Feb. 2 and will continue for 52 games. Each team will play
about 4 games/week which spells trouble for the league's older teams.
The Knicks first order of business will be to re-sign pg Charlie Ward,
who was starting to show promise last season. They will probably try to
shop Chris Childs around, and I'm sure that Knicks fans everywhere were
glad to hear that. Rumors are also surrounding deals involving Starks, Camby,
and Mills. I'm hopin they don't ship out Starks or Camby. Bad enough
when they traded fan-fave Oakley to ship out Starks also... and Camby
brings some MUCH-needed youth NYK.
