Tuesday, November 1, 2011
NBA Lockout: Regular Season Games Are Cancelled Through November 30th & Will Not Play a Full 82-Game Season (October 23rd-29th)
With talks between the NBA’s locked-out players and owners breaking off, commissioner David Stern has announced the cancellation of games through Nov. 30th. Stern said it is “not possible, practical or prudent” for the league to play a full 82-game schedule now. Stern said while the two sides made progress on system issues during talks on Friday, progress halted when the topic turned to revenues.
Reiterating the league’s offer to a 50-percent split of basketball-related income with the players, Stern said union executive director Billy Hunter said “he was not willing to go a penny below 52 (percent.).
“He closed up his book and walked out of the room. And that’s where we are,” Stern said.
No further talks have been scheduled. “We’re not sure when we’re going to meet again, but we’re hopeful that soon enough we can get back at this and try and close this out,” union president Derek Fisher of the Los Angeles Lakers said. “Today wasn’t the day.” Both sides had pointed toward Friday as the day they hoped to close the gap on the finances. Owners are insistent on a 50-50 split of revenues, while players last formally proposed they get 52.5 percent, leaving them about $100 million apart annually. Players were guaranteed 57 percent in the previous collective bargaining agreement. Hunter said the league initially moved its target down to 47 percent during Friday’s six-hour session, then returned to its previous proposal of 50 percent of revenues.
“We’re not quite sure if they’re at 50 or if they’re really at 47,” Fisher said. But Stern challenged that characterization, saying the league’s offer was 50 percent. The players will not accept a 50-50 split, Hunter said.
“Derek and I made it clear that we could not sell the 50-50 deal to our membership. Not with all the concessions that we’ve granted,” Hunter said. “We’ve got to have some dollars.”
“We feel like we’ve made concessions,” Fisher added. “Right now it’s not enough.”
Discussions about the salary cap system also proved problematic. “You get there and then all of a sudden they say well, we also have to have our number,” Hunter said, referring to the 50 percent revenue split proposal. “And you say, well you’re not negotiating in good faith. We trusted you one more time.”
Though they will miss a paycheck on Nov. 15, Hunter said each player would have received a minimum of $100,000 from the escrow money that was returned to them to make up the difference after salaries fell short of the guaranteed 57 percent of revenues last season. What the players won’t do is rush into a deal they might regret later, Fisher added.
“We’re trying to really remain focused on the fact that this deal, whether it’s on system or BRI, has to be one that our players for the next ten years can operate under,” he said. “We didn’t want to rush through this today just to close out a deal that’s going to impact our members for the next ten years.”
After two days of making some progress on salary-cap issues, the two sides turned their attention back to the revenue split Friday, the 120th day of the lockout. Talks broke down last week over that issue, and they had not attempted to deal with it since. The sides met for 7½ hours Thursday following a 15-hour marathon the previous day. Though no specifics have been offered, they both said there had been some compromise on system issues.
That created optimism that the lockout could be nearing an end, though that was believed possible a couple of times earlier this month, only to be followed by a setback. Sources told Broussard that Hunter spoke to players earlier Thursday and reiterated the union’s stance that players want at least a 52-48 split of basketball-related income.
Monday, October 24, 2011
#MYOL News: Will & Jada-Pinkett Smith; Part-Owners of Philadelphia 76ers (October 16th-22nd)
Tuesday is a big day for NBA basketball fans in the city of Philadelphia. CSN has learned that a press conference called for Tuesday morning at the Palestra by the Sixers will introduce their new ownership led by multibillionaire Joshua Harris, who went to the Wharton School of Business at the University of Pennsylvania. (CSN and CSNPhilly.com will air the press conference live at 11:30 a.m.)
Last week, the NBA Board of Governors voted unanimously to approve the sale from Comcast-Spectacor to Harris’ group. Harris is one of three co-founders of Apollo Global Management, a private equity group. "My partners and I are thrilled to have become owners of the Sixers," Harris said in a statement released by the team Tuesday morning. "It is an honor to become part of this storied franchise. We have a lot of work to do, but we have a rich history, a strong foundation and a bright future." The group includes numerous investors, including Will and Jada Pinkett Smith. "West Philadelphia born and raised," Will was born in Wynnefield and attended Overbrook High School. Another Philly native, Adam Aron, a graduate of Abington High School, Harvard College and Harvard Business School, has been named the franchise's CEO. Aron served as the chairman and chief executive officer of Vail Resorts until 2006 before forming and holding the same title for the consultancy, World Leisure Partners, Inc.
"Being named CEO of the Philadelphia 76ers is truly a dream come true," said Aron, who also will serve as an Alternate Governor of the NBA. "Having grown up in Abington, I have always been a fan of this team." The new ownership will be limited in what it can say about its new investment given that the NBA does not allow anyone who works for a team or owns a franchise to discuss any players or the current state of the lockout. While the Sixers are introducing the new regime, federal mediator George Cohen will be overseeing talks between the full bargaining committees for both the owners and players in an effort to end a lockout that began on July 1. NBA Commissioner David Stern has indicated that if the two sides don’t have major movement from Tuesday’s session then his gut tells him they will not be playing NBA basketball on Christmas Day, the first big national television day of the season. That day is supposed to feature a rematch of the 2011 NBA Finals between Dallas and Miami. Cohen met with each side individually on Monday at their respective New York offices and he has been in contact with the two sides for several months.
The entire exhibition slate and first two weeks of the regular season have already been canceled. The Sixers were scheduled to play seven games in the regular season’s first two weeks.
-Dei Lynam.
Last week, the NBA Board of Governors voted unanimously to approve the sale from Comcast-Spectacor to Harris’ group. Harris is one of three co-founders of Apollo Global Management, a private equity group. "My partners and I are thrilled to have become owners of the Sixers," Harris said in a statement released by the team Tuesday morning. "It is an honor to become part of this storied franchise. We have a lot of work to do, but we have a rich history, a strong foundation and a bright future." The group includes numerous investors, including Will and Jada Pinkett Smith. "West Philadelphia born and raised," Will was born in Wynnefield and attended Overbrook High School. Another Philly native, Adam Aron, a graduate of Abington High School, Harvard College and Harvard Business School, has been named the franchise's CEO. Aron served as the chairman and chief executive officer of Vail Resorts until 2006 before forming and holding the same title for the consultancy, World Leisure Partners, Inc.
"Being named CEO of the Philadelphia 76ers is truly a dream come true," said Aron, who also will serve as an Alternate Governor of the NBA. "Having grown up in Abington, I have always been a fan of this team." The new ownership will be limited in what it can say about its new investment given that the NBA does not allow anyone who works for a team or owns a franchise to discuss any players or the current state of the lockout. While the Sixers are introducing the new regime, federal mediator George Cohen will be overseeing talks between the full bargaining committees for both the owners and players in an effort to end a lockout that began on July 1. NBA Commissioner David Stern has indicated that if the two sides don’t have major movement from Tuesday’s session then his gut tells him they will not be playing NBA basketball on Christmas Day, the first big national television day of the season. That day is supposed to feature a rematch of the 2011 NBA Finals between Dallas and Miami. Cohen met with each side individually on Monday at their respective New York offices and he has been in contact with the two sides for several months.
The entire exhibition slate and first two weeks of the regular season have already been canceled. The Sixers were scheduled to play seven games in the regular season’s first two weeks.
-Dei Lynam.
#MYOL News: Bill Belichick & Tom Brady Tie NFL Record For Coach/QB Combo (October 16th-22nd)
Bill Belichick & Tom Brady Tied the NFL Record For Coach/QB Combo with 116th win yesterday against the Cowboys just behind Don Shula & Dan Marino.
Hip Hop: Wale- "Ambition" (11.1.11) Tracklisting & Bait (VIDEO) (October 16th-22nd)
1. Don’t Hold Your Applause (Produced By Tone P)
2. Double M Genius (Produced By Mark Henry For Terror Squad Productions)
3. Miami Nights (Produced By Mark Henry For Terror Squad Productions)
4. Legendary (Produced By Toomp For Zone Boy Productions)
5. Lotus Flower Bomb (feat. Miguel) (Produced By Jerrin Howard)
6. Chain Music (Produced By Tone P)
7. Focused (feat. Kid Cudi) (Produced By Kore)
8. Sabotage (feat. Lloyd) (Produced By. Cloud Eater)
9. White Linen (Coolin) (feat. Ne-Yo) (Produced By. Deputy)
10. Slight Work (feat. Big Sean) (Produced By. Diplo)
11. Ambition (feat. Meek Mill & Rick Ross) (Produced By T-Minus)
12. Illest Bitch (Produced By Tha Bizness)
13. No Days Off (Produced By Toomp For Zone Boy Productions )
14. DC or Nothing (Produced By Tone P)
15. That Way (feat. Jeremih & Rick Ross) (Produced By Lex Luger)
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