Tagged in: pay

NBA to pay players full salaries due April 1

The NBA and its players are in a very difficult financial situation. With matches suspended amid the coronavirus outbreak, teams have no revenue incoming.

Players have guaranteed contracts, though, so the two sides have to sort out how to approach this crisis in a manner satisfactory to all involved. While no long-term plan has been made, the NBA took a short-term step to appease the players on Friday.

Teams will pay players their next scheduled check on April 1, according to ESPN’s Adrian Wojnarowski. 

Typical NBA contracts spell out payments on the first and 15th of every month during the season, though different pay schedules can be spelled out within individual contracts.

That means that, for the most part, the league’s next payday after April 1 would have come on April 15.

The league will give teams “additional guidance” on that payday in the near future.

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While short-term solutions are necessary, the league has a bigger long-term problem to solve if it hopes to settle its finances. As it presently sits, the owners stand to take the brunt of the fall for lost games.

While salaries are guaranteed in advance through contracts, the cap is based on projected revenue. The league didn’t build coronavirus into its plans, so players had been set to be paid as if this was a normal season. 

The league has tools it can use to force a compromise. All player contracts have force majeure clauses that allow teams to withhold 1/92.6th of their salary for every canceled game, and 10 percent of player salaries are held in escrow in case players wind up earning more in a given season than the CBA allows. That means that, in all likelihood, the players and the league will work together to find a compromise that splits the burden of these lost matches evenly among both sides.

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Brewers, Christian Yelich gets contract extension

The Milwaukee Brewers, despite being in one of the smallest markets in the game, are ready to pay big to keep superstar outfielder Christian Yelich.

The Brewers and Yelich are close to agreeing to a contract extension that will keep him in Milwaukee for the long term, according to Ken Rosenthal of The Athletic. Rosenthal added the deal will be a seven-year extension on top of the two remaining years on Yelich’s contract. All told, Yelich is expected to make $215 million over the next nine years with the Brewers.

Yelich, 28, has been among the game’s best players since arriving in Milwaukee two years ago. He hit .326/.402/.598 with 36 home runs en route to winning NL MVP honors in 2018, then followed it up with a .329/.429/.671 batting line and 44 homers in 2019. His 2019 campaign came to an end on Sept. 10, when he fouled a pitch into his knee and suffered a fractured kneecap.

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Clearly, the knee injury is not a long-term concern. Yelich is expected to make his spring debut later this week — he’s shifting back to left field after playing mostly right the last two seasons — and all indications are his knee has healed fine. If you’re going to give a player $200 million, it should be someone like Yelich. He impacts the game at the plate, in the field, and on the bases.

For the Brewers, there was no real urgency to get Yelich signed.

They already had him locked up through 2021 and under team control through 2022. That stems from the seven-year, $49.57 million extension Yelich signed with the Marlins back in March 2015.  

Rosenthal reports Yelich’s new contract will still pay him $12.5 million in 2020 and $14 million in 2021. The 2022 option will be torn up and replaced with a seven-year extension in the $190 million range. The total value is around $215 million and the contract will also include deferrals.

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