Salaries of Pro Cage Stars May Be Slashed

May 16, 1947

Buffalo, NY -- The National Basketball League and the Basketball Association of America, the nation's largest professional circuits, today prepared to agree upon a standard wage scale which would limit "exorbitant" player salaries.

Committees from the two leagues agreed yesterday that bidding battles for the services of intercollegiate stars last season had proved financially disastrous to 90 percent of their teams. After a daylong meeting, officials of both loops said possibility of a working agreement on salaries and territorial rights appeared "good".

Source: United Press International,