By Chris Sheridan
NEW YORK — As noted in this earlier post, a few details of what was in the owners’ latest proposal to the players’ union have come to light.
Here is another one: SheridanHoops.com has learned that the owners have proposed four different levels of the luxury tax, with the tax increasing from a dollar-for-dollar levy on teams slightly above the luxury tax threshold (which was $70.307 million last season, when the Lakers, Magic and Mavericks were reportedly the only tax-paying teams), up to a 4-to-1 tax for teams that go more than $10-15 million over the threshold.
There are also separate triggers for a 2-to-1 tax and a 3-to-1 tax.
Negotiations are resuming this morning in New York, and David Stern has called it a “key day” as the sides are not expected to meet Thursday or Friday because of the Jewish holiday Rosh Hashanah.
But from what I can gather through my discussions with sources is this: Don’t expect any significant breakthroughs today, as the 11th hour has not yet arrived. That’ll come roughly a week from now, when a deal must be cut in order to save the scheduled Nov. 1 start of the regular season.