Nike halts payments to NBA players

NEW YORK— The other shoe has dropped on National Basketball Association players.

Because of a lockout that has wiped out 322 games as of today, players are not receiving any salary.

Now Nike has withheld payment to players under contract because of the work stoppage, The New York Times reported today.

According to the newspaper, other shoe companies, like Reebok and Adidas, are paying their endorsers during the nearly 6-month-old lockout. But no other company has the number of clients that Nike has.

Apparently a few of Nike’s signature clients, such as Michael Jordan and Penny Hardaway, continue receiving payments from the firm.

Industry analysts told the Times that middle-range players earn approximately $100,000 a year from their Nike contracts, while an All-Star receives anywhere from $250,000 to $1 million a year.

Associated Press