Wednesday, July 13th, 2011 at 9:05 am  |  6 responses

NBA Players to Receive $160 Million of Escrow Money

There had been talk prior to the lockout of NBA team owners withholding the players’ escrow cash, but that’s no longer a concern: “The escrow funds — representing eight percent of each NBA player’s salary — are held back each season to ensure that the players’ share of basketball-related income does not exceed the contractually agreed-upon percentage, currently 57 percent. This year, for the first time since the system was introduced in the collective bargaining agreement that came out of the 1998-99 lockout, the cut to players will fall short, sources with the NBA and the National Basketball Players Association confirmed. When a final audit is completed later this month, the players will have been paid less than 57 percent of BRI and will be due the entire $160 million. It’s the first time the players will have the full escrow returned, a union spokesman said. That cash could ease or delay the point at which some players begin to feel financial hardship from the lockout. Based on the ‘average’ NBA salary of $5.7 million, the escrow rebate would be worth $456,000. A minimum-salaried player ($473,604) would be due $37,888 while a $16 million superstar could expect $1.28 million coming back. A majority of NBA players are paid from November through April, while those on a 12-month payment plan receive checks through the summer for the just-completed season. A check for 8 percent of their annual salary could put off any money pinch they eventually feel. Traditionally, the annual July audit is the time when BRI is defined, along with the salary-cap and minimum payroll figures.”

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  • kh

    money pinch???

  • Jer dawg

    Lol! Well, this sounds all very ludicrous, but a victory is a victory. The damn owners can’t steal this pot of cash this time. But it also means Stephen Jackson will be paid and he of the “I deserve a new contract because I’m a great leader.” he’s toxic to every team.

  • http://www.slamonline.com spit hot fiyah

    the incoming rookies probably need this the most, but i’m assuming they r not eligible for this

  • Riggs

    they aren’t since they are being paid for the previous season, which the rookies had no part of.

  • PatfromSactown

    WHAT? The players get escrow money too? The 57% BRI is way tooo high.
    40% is more in line…maybe then more fans can afford tickets to the games.

  • PatfromSactown

    One more thing, the players are way overpaid and still complaining. NO SYMPATHY THERE! But then that’s on the owners. Both sides are clearly for themselves and the fans be damn.