Wizards owner fined $100,000 for talking salary cap
{{#rendered}} {{/rendered}}NEW YORK (Reuters) - The National Basketball Association (NBA) fined Washington Wizards owner Ted Leonsis $100,000 on Wednesday for making unauthorized public comments regarding the league's collective bargaining negotiations.
The Wizards owner told a business audience earlier on Wednesday that the NBA, which is working on a new labor deal, will soon have a hard salary cap similar to the model used by the National Hockey League (NHL).
NBA teams are currently allowed to exceed the salary cap as long as they pay a luxury tax penalty. The league's collective bargaining agreement is set to expire on June 30.
{{#rendered}} {{/rendered}}Leonsis, who has been the majority owner of the NHL's Washington Capitals since 1999, completed his purchase of the Wizards in June.
(Writing by Frank Pingue in Toronto; Editing by Ossian Shine)