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FBN’s Gerri Willis on the economic impact, and jobs lost due to cancelled NBA games and a potentially cancelled season.
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-- -- -- back of the envelope segment a story of priorities being completely out of whack.
NBA commissioner David Stern has canceled the first two weeks of the season.
After negotiations failed to produce a new labor deal he's warning more gains could still be in jeopardy.
Now opening night -- scheduled -- November 1 and the cancellation includes all games scheduled to be played through November 14 and that's a hundred gains.
Now look I'm not crying because I'm the world's biggest basketball fan but because a lot of regular people are going to get hurt by these Greek owners and players.
Or playing an epic game of negotiating brinksmanship.
Based on last year's average attendance more than 171000 people -- ten per game.
There's now cancel games equal 83 million dollars in lost ticket sales and let me tell you hear it's not just tickets.
Concessions souvenirs cars paying the parking name -- there's a lot of money involved here.
The NBA also risks alienating their fan base that sent the league's revenues in TV ratings soaring last season.
Here's the bigger picture now ushers security personnel parking lot attendants concession workers restaurant employees -- just goes on and on.
And they all stand I have a pay cut here or worse end up joining one of the country's fourteen million unemployed.
These -- the real victims here not the millionaire basketball players.
So how far away is it real.
Top negotiators from both sides the league and its players -- for more than seven hours yesterday at more than five -- Sunday.
The two sides expect to remain in contact but no additional formal talks have been scheduled.
And here's what the two sides are fighting about get this this is appalling.
How to divide basketball related revenue right makes cents last year's players earn 57% of revenue.
But now owners want them to accept 47%.
Players of -- to take 53%.
Stern says the gap is so significant that we just camp -- at this time.
But it's six percentage points seriously you can't -- -- that and save thousands of jobs out there keep the industry humming.
And there's this the salary cap teams that pay over the amount allotted.
Currently teens are charged a luxury tax of one dollar -- dollar they what they were over the cat.
But the -- Angeles times says that legal wants the luxury tax tripled which would mean players won't be guaranteed its highest salary.
Look bottom line it's time to call a timeout on the NBA.
This is not justified over a million dollars here in a million dollars there isn't about regular Americans -- living is made from the big business of basketball.
They can't afford to miss two weeks of work much left the whole season.
So -- -- together reach a deal while you still can't remember the real reason all of you have a job in the first place.
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