NEW YORK -- NBA commissioner David Stern says there was no quantifiable progress in collective bargaining talks over the summer, and the league has revealed it is seeking a reduction in player salary costs by about one-third.
Stern says the league wants player costs to drop by about $750 million to $800 million. Deputy commissioner Adam Silver says the NBA currently spends about $2.1 billion annually in player salaries and benefits.
Stern completed two days of meetings Thursday with his owners, who are seeking major changes to the current CBA that expires June 30. Silver says the league has repeatedly told the union that owners are in a "diseconomic situation," with projected losses of about $340 million to $350 million this season.
David Stern: Stern: NBA wants player salaries cut by a third - ESPN (http://sports.espn.go.com/nba/news/story?id=5711172)
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NBA Stern: NBA Must Cut Player Costs by a Third (http://slumz.boxden.com/f16/stern-nba-must-cut-player-costs-third-1436345/)