Source: The Mercury, 8 January, 1999, p.42 Source: The Mercury, 8 January, 1999, p.42
[previous text excluded] Among a number of unre- solved questions was the future of Michael Jordan. The Chicago great was not at the players' meeting though many of the sport's top stars including Hakeem Olajuwon, Shaquille O'Neal, David Robinson and Barkley were. Joining in the general euphoria of anticipation within the sport, NBA- related companies - from the Boston Celtics to Nike and Reebok-saw the prices of their shares leap on the stock markets. No professional sports union in North America had ever agreed to a maximum salary before but the NBA had been pushing for one throughout the lockout. The union initially re- fused, then suggested a lux- ury tax be charged to any owner who signed a player for more than $24 million. The league kept holding out and eventually the play- ers relented. NBA players have the highest average salary in professional sport - about $4.15 million annually - and the median salary is about $2 million.
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Index - Data Reduction