The players assume none of the risk. If they want to form their own league, do their own marketing, own their own buildings, manage or contract out operations, etc than they can take whatever cut they want. Players don't take a salary hit when ticket sales go down or their teams suck or when they personally can't even perform their jobs any more. Right now all that risk is on the owners which is why the owners are entitled to take back.
You seem to have major issues differentiating revenues from profits. In your music star example: The musician is not the employee as players are, the musician is THE BUSINESS. The musician brought in 1 billion in sales but had 980 million in expenses leaving a 20 million dollar profit, which he then pays himself. If music star only makes 500 million the next year he loses 480 million after he pays out. Which is actually what happens to many, many people in that industry (on a much smaller scale). Next time an NBA player takes a loss we'll talk.
Actually the record label brought in $1 billion in sales and the artist, an employee of the record label, was paid $20 million. That's how it typically happens in the music industry and that's how it happens in the NBA. You're saying the artists/players are overpaid and I'm saying if anything they're underpaid for the amount of revenue they generate. You're trying to portray the players as greedy and unreasonable, I'm saying they have a right to demand fair compensation based on actual revenue.
I do understand the difference between revenue and profits, but common sense says that increased revenue should also result in increased profits. What are these enormous expenses the teams have incurred which are forcing them into debt despite an increase in revenue? Does anyone know? Couldn't it simply be that, like many Americans, they over leveraged themselves prior to the recession with the expectation that their business would continue to build in value on a straight line and when that didn't happen their expected profits turned upside down? That's what the Maloofs did with the Palms and they've paid the price for it. Just because 30 owners get together and demand something which is in their best interest doesn't mean everyone else has to bow down before them and accept it willingly. The players have a right to wait this out until the owners are willing to negotiate fairly.
I already agreed with you before about the owners currently assuming the majority of the risk. That's why a hard cap and incentive based contracts should be (and are) on the table for negotiation. The owners suffered the most through the recession because player contracts were already guaranteed. I think the majority of the players are willing to concede
some level of non-guaranteed contracts and they're also willing to concede a certain amount of restructuring to the salary cap. But when it comes to drastically cutting the share of revenue given back to the players, I don't agree that the owners have justification for that and neither does the NBPA and that's why there's a lockout that's probably going to last a long time.