The NBA had shown representatives of the players' union, currently negotiating the labour agreement, figures outlining the league's current gloomy financial position, Reuters reports.
"And basically what those numbers showed, give or take, was this year we are projecting a league-wide loss of about $400 million," Stern said.
"In each of the first four years of the deal, probably losses of a couple of hundred million, at least $200 million a year. At our current level of revenue devoted to players' salaries, it's too high."
Stern wants to change the 57 per cent of league revenues that currently go to paying players wages. The current agreement expires on July 1 next year.
