It will have to be more significant than that I think. They're probably looking at a 20-30% revenue haircut, which by the existing terms of the CBA means a similar-sized decline in the cap. Which means that every team in the league is already capped out and can't sign anyone, also can't fill their rosters.
Obviously untenable and will require some sort of a solution. Probably a contract rollback
Agreed , some arrangement will have to be worked out
Players will have to take less and maybe common sense prevails with some contracts
Anyone know if the networks/sponsors etc... have any financial protection language in their contracts ?