NBA to withhold 25% of players' paychecks beginning May 15

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In the NBA's latest cost-cutting measure amid the coronavirus pandemic, the league and the NBPA agreed to withhold 25% of each player's paycheck beginning May 15, the two sides announced Friday.

The agreement allows for a gradual reduction in player salaries in the event the CBA's force majeure provision is automatically exercised due to the cancellation of regular-season games.

If the season resumes and remaining regular-season games are eventually played, players would have the deducted money returned to them, ESPN's Adrian Wojnarowski reports. Otherwise, teams would reportedly keep a percentage of the deducted money based on the number of games canceled.

A provision that covers catastrophic events such as the COVID-19 outbreak, exercising the force majeure clause would result in players losing out on 1/92.6 of their salary for every canceled game.

This is the first cost-cutting measure introduced by the league that specifically impacts players' income.

In March, 100 of the NBA's top executives reportedly had their base salaries reduced by 20%.