*Tentative NBA deal is clear win for the owners

Early reports indicate that the players made all kinds of concessions that include an overall annual salary cut of up to $300 million. The revenue split will be 50-50, which is what owners had been offering for some weeks and a huge change from the 57-43 split that has favored the players. And it's a 10-year deal, the longest in NBA history. From the NYT:

Much needs to be done before the basketballs hit the court. Officials on both sides must still negotiate myriad so-called B-list issues, including drug testing, the age limit and use of the Development League, and the entire collective bargaining agreement must be formally constructed. The deal must be ratified by a simple majority of the 30 teams and a simple majority of the 430-plus players. Before that can happen, the parties must dispense with two pending lawsuits, and the players must reconstitute their union, which was dissolved on Nov. 14.

*David Berri, an economics professor at Southern Utah University, provided some context at Freakonomics earlier this week:

At the onset of the lockout, the leverage was with the owners. This is primarily because the money made in basketball comes at different times for the owners and the players. The players are paid for the regular season, and receive regular paychecks throughout the season. So once regular season games are lost, the players start losing money. What matters most for the owners is having enough of the season so that the playoffs can be played. The owners also lose money when games are not played. But the owners also make a significant chunk of their money after the regular season ends. When the regular season paychecks stop, the owners start making money on the playoffs. And that means the owners are not quite as bothered by games being canceled at the beginning of the season.