The NBA players association saw both its assets and debts increase as it gears up for its next round of labor negotiations.
NBPA assets hit a record $428.1 million in the fiscal year ending Sept. 30, 2022, per its annual filing with the Department of Labor.
- That represented a 9.5% increase from the previous year.
- Net assets tumbled 21.9% to $209.9 million as liabilities grew from $122.3 million to $218.2 million.
- Most of that added debt came from increased licensing revenue withheld from players — money owed to players nearly doubled year-over-year to $199.9 million.
The NBPA and NBA are in the midst of negotiations around a new collective bargaining agreement. The league is seeking a harder salary cap, which the players oppose.
Mind The Cap
The cap for this season is $123.6 million, but teams may exceed that figure to retain players through contract extensions. Teams over the cap are not only limited in trades and signings, but have to pay a luxury tax.
All but four teams are currently over the cap. The Golden State Warriors are $78.4 million in excess, followed by the Brooklyn Nets at $70.9 million.
League revenues are expected to grow substantially with the next media rights package, which could triple the current deals with Disney and TNT that currently pay the league $2.6 billion annually.
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