The whole "oh the poor owners, the athletes are bankrupting them" took a real public opinion hit with the release of baseball, traditionally the poor criers, were outed as pretty big frauds by those accounting leaks.
I also think football, if the owners keep it up, will sour fans to the "poor owners" issue by locking players who want to play out.
Both sides will lose, but i think players in both sports are doing a better job of keeping the discussion focused on owner greed instead of the traditional "players are overpaid babies" argument the owners resort to.
And the owners are doing a pretty good job of it too:
Amir Johnson: 5 yr 34 mil.
Hakim Warrick: 4 yr 18 mil.
Travis Outlaw: 5 yr 35 mil.
Channing Frye: 5 yr 30 mil.
Rudy Gay: 6 yr 80 mil.
Joe Johnson: 6 yr 120 mil.
David Lee: 6 yr 80 mil.
Wes Matthews: 5 yr 34 mil.
John Salmons: 5 yr 40 mil.
Drew Gooden: 5 yr 32 mil.
Ty Thomas: 5 yr 40 mil.
Who made GMs sign those deals? Against whom were they bidding? But yeah, owners are strapped for cash.
Those deals aren't really relevant. Players are given a certain portion of what the league makes according to the CBA. Stern seems to want to chance that.
There will always be player who are overpaid and who are underpaid (like stars on rookie contracts).
Well, I'd say they are a little relevant, as teams are crying "we are over budget" yet then go out and VOLUNTARILY spend money they then say they don't have.
This is an optimization problem.
If a team decides to only pay out the minimum in salaries, this makes their team really bad and could kill revenue. If they try to at least be competitive, then perhaps they as a team can lose a little less money.
The problem is gaining wins is a zero sum game. Because a single team is trying to improve their bottom line by get more wins, they are in effect spending money to make their opponents worse. This may end up making their team more profitable, but the league on the whole becomes less profitable as teams below the median go more in the red.
So the league needs to figure out what the optimal salary level is so that we don't end up with a league where only 6 teams are profitable.
This needs to be in the CBA so we don't have collusion problems like MLB had a few decades ago.