The players didn't take a pay cut even though the league revenue was massively less due to the pandemic. The deal was that it would be recouped by overpaying the owners' cut for a few years (instead of the 50/50 split). This is accomplished in part by holding the salary cap stagnant, although you can probably figure out that even a 3-4M rise would be around 100M total and not enough to make up that deficit quickly.$1B debt to the owners?
Indentured servitude?
I think you're probably joking, but it is a deal where players TODAY are making less so that players the last couple years would make more. Not sure today's players were completely able to be represented in that deal. Guys who were retiring ended up on the best end of that deal.