The franchise needed more cash to cover operational costs, including the player payroll.

They have the financial might to do so, with a player payroll topped only by the Yankees.

The Knicks have the second highest player payroll at $13.4 million.

But they said the plan would take effect only if the union agreed to a limit on player payrolls in a new labor contract.

Stern has said player payroll accounted for more than 57 percent of the revenues taken in by the league last year.

By 1998, that could account for a third of its entire player payroll for the year.

The player payroll, only $16 million last season, will be increased.

The Patriots' player payroll last season was $19.4 million, which ranked it 12th among the league's 28 teams.

Wilpon has authorized a player payroll no lower than last season's, which was about $93 million on opening day.

Not with a $38.6 million player payroll, baseball's fifth highest.