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National Basketball Players Association alerts members that a percentage of payment could be withheld in event of a cancellation

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Article Summary:

The National Basketball Players Association on Friday sent a memo to its players detailing a doomsday provision in the collective bargaining agreement that could free the owners from paying players a percentage of their salaries should the season be canceled, according to a source.

A force majeure event is defined in the CBA as an event that makes it impossible for the NBA to perform its obligations under the agreement.

According to Article XXXIX, Section 5 of the CBA, players could lose 1/92.6th of their salary for every game missed as a result of a force majeure event.

Bloomberg News estimates that each player on the roster could forfeit about 1% of his pay per game canceled.

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