LeBron James, Kyrie Irving and Kevin Durant are among NBA players who are reportedly refusing the NBA pay cuts during the coronavirus pandemic. The NBA is currently discussing ways to minimize the long-term losses which will be caused by the NBA suspension. LeBron James, Kyrie Irving and Kevin Durant are NBA players who have 'all you can get deals', which means that the players were to receive all or almost all of their salaries for the NBA 2019-20 season.
NBA players receive paychecks Wednesday but have not been assured further payments. Some details to keep in mind if the NBA seeks to withhold 1.08 percent of each player's 2019-20 salary for every game missed by invoking a "force majeure" clause designed for emergency situations:— Marc Stein (@TheSteinLine) March 31, 2020
Nine who secured these all-you-can-get deals, which pay out 90-plus percent of their 2019-20 salaries by April 1, are represented by Klutch Sports on contracts structured and negotiated by agent Rich Paul and attorney Mark Termini— Marc Stein (@TheSteinLine) March 31, 2020
The nine Klutch players are naturally led by LeBron James and include John Wall, Kentavious-Caldwell Pope, Dejounte Murray, Miles Bridges, Darius Bazley, Darius Garland, Terrance Ferguson and Trey Lyles. Next season it will be 10 when Draymond Green’s contract extension kicks in— Marc Stein (@TheSteinLine) March 31, 2020
Other known players in this select club include the Nets’ star duo of Kevin Durant (repped by Rich Kleiman) and Kyrie Irving (Roc Nation), Detroit’s Blake Griffin (Jeff Schwartz and Sam Goldfeder) and Chicago’s Otto Porter (David Falk and Danielle Cantor)— Marc Stein (@TheSteinLine) March 31, 2020
The NBA is bound to the Collective Bargaining Agreement (CBA) with a force majeure clause, which can hold back player salaries for every cancelled NBA game. As per ESPN, the league and players unions are discussing withholding 25% from all players salaries in a league escrow in case the regular-season is cancelled. For each game, approximately 1.1% of the salary could be cut. For high-paid players like LeBron James, the loss per game could be more than $400,000. As the players receive their remaining paycheck after the season has ended, LeBron James and other players will have to pay the difference directly to the team.
The NBA is reducing base salaries by 20 percent of approximately 100 of the league office’s top-earning executives around the world, sources tell ESPN.— Adrian Wojnarowski (@wojespn) March 26, 2020
While trying to deal with the financial losses, the NBA is determined to complete the 2019-20 season. The league is reportedly considering Las Vegas as an option for the playoffs to take place. However, no news has been confirmed yet.