Australian NBL to slash salaries by up to 50%

The COVID-19 pandemic continues to cause widespread disruption to the global economy, forcing the Australian NBL and other leagues to cut costs.

In a business decision announced on Sunday, the Australian NBL, the circuit’s nine teams and the Australian Basketball Players’ Association finalized a salary plan for the 2020-21 campaign.

Player contracts for less than $79,000 will be trimmed to $58,584, according to the agreement.

What’s more, the Australian NBL deal calls for a 27.5 percent pay cut for contracts in the $80,000-$99,000 range.

For player deals over $200,000, salaries will be slashed by 50 percent.

ABPA chief Jacob Holmes acknowledged the agreement was OK’d during a difficult time.

“The players recognize that this is an extraordinarily difficult time for the community and there are many other Australians who are doing it very tough right now,” Holmes said in a statement. “Our focus was on reaching an agreement that would protect, as much as possible, the livelihood of the players while ensuring the viability of the league.”

He added: “We’re pleased to have been able to productively work through this challenging situation with the NBL and the owners, and the players are very much looking forward to getting out on the court again and engaging with their loyal fans as soon as they’re able to.”

Comments from NBL boss

Australian NBL Commissioner Jeremy Loeliger expressed gratitude to the APBA for its cooperation.

“I want to thank the ABPA led by Jacob Holmes as well as all of the clubs for their support in reaching this agreement during what are obviously very challenging times for all sports including the NBL,” Loeliger said.

“…The fact that we have reached a satisfactory outcome for all parties reflects the tremendous unity across the league. … We will continue to do everything we can to support them and our clubs as together we tackle the challenges facing all of us.”