MIAMI—NBA commissioner David Stern says the league is set to meet with the players union Wednesday for talks but it is going to be a “challenge” to get a new labor deal done before the current one expires.
Stern said Wednesday’s meeting is part of three bargaining sessions over the next two weeks as the two sides try to hammer out a new collective bargaining agreement.
The current agreement expires June 30 and the owners could lock out the players if a new one can’t be reached.
Stern, who was speaking on Tuesday before game one of the NBA finals, said he hopes the two parties “will be bold enough to do what has to be done here.”
The owners want to implement a hard salary cap, saying they are facing projected losses of about $300 million this season.
They also want non-guaranteed contracts and hope to shorten the length and value of contracts.
The players’ contention is that the league is not losing any money and they are opposing a hard salary cap, pay cuts and non-guaranteed contracts.
The last NBA lockout shortened the 1998-99 season by 32 games to just 50.
It also wiped out the 1999 NBA all-star game and kept NBA players from participating in the 1998 world championships on the American team.