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Call it the Jay Z rule. At its last major meeting, the NBA’s Board of Governors quietly passed a rule mandating that teams have 25 or fewer individual owners — and that every such owner must own at least 1 percent of the team, per a half-dozen league sources. To be clear, Jay Z was not the specific target of the rule change; he owned a minuscule 0.15 percent of the Nets, according to the New York Times, but sold his stake to Jason Kidd and another investor in 2013. Grantland

The league had been contemplating the change for years, sources say. The new Bucks’ ownership group may have provided the final impetus. Marc Lasry and Wes Edens, two of the three largest stakeholders in the team, are among 37 individuals who own some portion of the Bucks, per league sources.1 Both Lasry and Edens sold small chunks of the team to friends, family members, and prominent members of the Milwaukee community — a key method of gathering support for a new arena. Grantland

Owners for decades have sold small pieces of their teams to friends and colleagues, including stakes that amount to less than 1 percent equity — and could cost in the mid- to low-six-figures, per several league sources. Those with such little equity usually don’t get any of the biggest perks of owning an NBA team. They don’t get a seat at the Board of Governors or any real say in the team’s big basketball- or business-related decisions. Some even have to scrounge for tickets if they decide at the last minute they’d like to attend a game. Grantland

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Based on one team's estimates, James could earn $28 million as a free agent in 2016—a 36 percent leap from his current salary. Assuming a four-year deal with maximum raises, James would earn an NBA-record $34 million in the final season, the most any player has earned in the max-contract era. Michael Jordan made a record $33 million in 1997-98, the season before the NBA capped individual salaries. Bleacher Report

Although the players' share of revenue has gone down, their actual earnings are about to spike dramatically, thanks to the new infusion of TV dollars. The average salary, currently $5.5 million, could leap to about $7.3 million in 2016, according to team executives. Bleacher Report

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