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David Stern Talks CBA, Nets, Kings, Wolves

NBA owners voted unanimously today to change the NBA Finals to a 2-2-1-1-1 format, after nearly three decades of using a 2-3-2 format. As Brian Windhorst of writes, commissioner David Stern called it an “easy sell,” since it helps improve competitive balance and aligns the Finals schedule with the rest of the postseason. In addition to announcing the change, Stern provided a few more notable updates following his last owners’ meeting as commissioner. Here are the highlights from Windhorst:

  • According to Stern, the league’s new revenue sharing system, which includes more punitive tax penalties, is working, with the league expecting about 24 or 25 franchises to be profitable by the end of the 2014/15 season. Of the teams not projected to be profitable, most are doing so of their own volition, by carrying high team payrolls.
  • Stern, on the Nets, a team that figures to pay significant tax penalties going forward: “I haven’t looked at the Nets’ balance sheet but my guess is they’re not necessarily going to be profitable.”
  • Stern indicated that plans for a new Kings arena in Sacramento are “going swimmingly,” adding that he expects it to open on time for the 2016/17 season.
  • Additionally, the Timberwolves are in final negotiations on the terms of a plan to overhaul and upgrade the Target Center, according to the commissioner.

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