The Coase theorem is back in the saddle

On nearly every count, the deal favors the owners, who had sought all along to overhaul the system. The players made significant concessions, including a reduction of up to $300 million year in salaries, $3 billion over the life of the agreement.

It seems there will be an NBA season.  The details of the deal have not yet been released, and on minor issues are still being negotiated, but the exact revenue split will depend on revenue projections.  Henry Abbott discusses winners and losers.


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