Before a new labor deal can be finalized, one of the most important items on the “to do” list entails 24 of the 32 owners approving the terms of the agreement. Despite the many communications tools of the modern era, the preference remains getting the owners in a room, hashing it all out, and taking a vote.
With the owners meeting next Tuesday in Chicago and Adam Schefter of ESPN now reporting that they’ve been told to pack a bag and plan to spend the night, we see two possible explanations. First, they’re in the mood for a sleepover. Second, they possibly will be voting on the terms of the Collective Bargaining Agreement.
Even if a deal remains days or weeks away as of next Tuesday, the owners could choose to pre-approve the final terms to be offered by the negotiating team, eliminating the need for a vote once an agreement in principle is reached between the folks hashing out the details.
So while, in our view, it’s neither good news nor bad news at this point, it lays the foundation for potentially great news.