Under the new formula being negotiated, players will receive 48 percent of all revenue and will never dip below a 46.5 percent take of the money, sources said.
In the previous collective bargaining agreement, players received approximately 60 percent of "total revenue" but that did not include $1 billion that was designated as an expense credit off the top of the $9 billion revenue model. Owners initially were seeking another $1 billion in credit only to reduce that amount substantially before exercising the lockout on March 13.
