Owners want one as well as these other concessions:
4 year limit on contracts.
Doing away with guaranteed contracts.
Obviously, the Players Assocation disagrees with these concessions because they obviously want more money guaranteed for their players no matter what -- but what do you think? One thing I do think -- there won't be a work stoppage in the NBA this year -- the NHL may NEVER recover from their present work stoppage and it took years for MLB to recover -- not sure that the NBA has EVER truly recovered for a partial work stoppage.
The most likely one is max deals of only 4 years, and I believe that would be fabulous. In many regards 4 year contracts can help accomplish a lot of what they are shooting for with the other 2 (guaranteed deals, and hard cap) anyway.
The players association won't give up guaranteed deals, but by limiting them to 4 years, you have taken away most of the worst parts of guaranteed deals anyway. Yes in some cases teams would like to get out from under a deal in 1 year rather than 4, but 4 is much better than 6 or 7. This will allow teams who do sign bad deals to get out from underneath them sooner. This will make it much more likely that teams will be able to turn their situation around sooner. That has been great for the NFL, and it will help the NBA. Almost every team in the league has had at least 1 (Portland had half a dozen) bad contract that was taking up valuable cap space, pushing you closer to the luxury tax, or limiting your ability to get to the next level. This will improve things dramatically.
Four year deals will also greatly help get the league closer to a hard cap. The biggest reason you have cap problems is these escalating deals of 12% a year for 7 years. Start with $8,000,000 and in the 7th year it is now $14,000,000. With only 4 year deal the max year will reduce the max contract to $11 million, and this gets you closer to a hard cap.
One thing that will also happen is 4 year deals will tend to drive salaries down. It is simple supply and demand. If the supply of FA's increases (and contracts ending sooner will do that) without a corresponding increase in demand, which will limited by the soft cap, will cause the price of FA's to drop. Demand for FA's will only increase as the soft cap increases, which is determined by league wide revenues. This will assure a stronger economic picture.