The NBA's new revenue sharing plan -- being negotiated by owners on a parallel track to the ongoing NBA lockout talks with the players' union -- could net small-market teams up to $15 million per year, reports the New York Times' Howard Beck, citing a source who has seen the plan. Large-market teams would be funding the program, with the high-revenue L.A. Lakers in for an estimated $50 million per year and the New York Knicks expected to contribute up to $30 million.
The NBA has a modest revenue sharing plan already, with a total of up to $60 million shared between teams. NBA commissioner David Stern had said that he expects owners to approve a plan to triple that level of revenue sharing.
NBA owners discussed the revenue sharing plan at a meeting Thursday morning before league officials and top representatives of the players' union reunited with federal mediator George Cohen for additional lockout talks late Thursday. The first two weeks of the regular season have already been cancelled.