In the early 1980s, the National Basketball Association (NBA) faced a crisis. Television ratings were plummeting—the 1981 NBA finals were among the lowest of all time. Spurred by failing franchises, low game attendance, and declining corporate sponsorships, the league’s cultural relevance in the United States waned. Then in 1984, the league responded with a structural shift that would change the culture of sports for decades to come. 

“ We came together with the collective bargaining agreement where the players and the owners would work together to grow the game and expand the game and the values that we established in the Players Association,” says NBA legend and current NBA TV analyst Isiah Thomas. “The........

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