In Miami today, the NBA and its players union are engaged in the first day of what David Stern calls "full-blown" collective bargaining -- as opposed to smaller meetings that have been going on for weeks.
Top of the agenda: How big a hit the players will take.
It's crystal clear from both sides that the way the players and league divvy up revenues will change in this year's talks. What's being debated is whether the next agreement will be slightly less lucrative for players, or very much so.
In public, the league has made the interesting case that they will need about $800 million more a year from players, who made a little more than $2 billion this season. That number would mean, on average, that your local team would be dropping salaries to $27 million. $31 million salary cap anyone? (Point of reference: The Lakers' 2010-11 salaries topped $90 million.)