NBA Projecting $300 Million in Losses This Season, Stern Says
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The National Basketball Association is projecting $300 million in losses this season as it approaches the end of the collective bargaining agreement with its players union, league Commissioner David Stern said.
The NBA owners’ labor committee, headed by San Antonio Spurs owner Peter Holt, has been given permission by the full ownership to make a new proposal to the National Basketball Players Association in the next week or so, Stern said today at a news conference that followed a two-day meeting in New York of the league’s Board of Governors.