Skip to comments.Go Woke, Go Broke? NBA Reportedly Facing Billions in Losses, Steep Decline in Player Salaries
Posted on 11/01/2020 4:59:04 PM PST by dynachrome
The NBA, however, fears that starting the season even in January could cost the league anywhere from $500 million to $1 billion in lost revenue, according to ESPN.
Now, a multibillion dollar entity like the NBA might normally be able to weather losses even that substantive, if only for a year.
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Things get a little hairier, however, when factoring in the great unknown of when fans will be allowed back en masse. Without that vital gate revenue, ESPN noted that projections have the NBA losing another $4 billion.
Thats a potential loss of up to $5 billion in revenue if the season starts in January and fans are not allowed to attend. That massive figure, even for a multibillion dollar entity, would be a very painful and bitter pill to swallow.
The Players Associations reluctance to start the season early is particularly confounding given the very dire consequences those revenue losses could have on the NBA players.
As ESPN pointed out, the current collective bargaining agreement includes a 50-50 revenue split between the players and the league. A massive drop in revenue would mean a steep drop in player salaries.
While some players with exorbitant salaries, such as LeBron James, John Wall and Chris Paul, would still collect a hefty chunk of change, players on rookie-scale deals or making the league minimum might not be as amenable to those depressed salaries.
So it as simple as going woke and then going broke?
Much like with anything else in life, no, its not that simple.
But at the very least, the NBA might want to significantly rethink its strategy of engaging in hyper-partisan politics and alienating its fans.
(Excerpt) Read more at westernjournal.com ...
(tears of laughter!)
You made your bed,now lie in it.....You wanted this...okaaaay..you have it....ENJOY GOING BROKE
Stephen Curry, Other NBA Stars Set To Lose A Lot Of Money
10/31/2020, 1:31:30 PM · 49 of 58
Grampa Dave to forgotten man
Thanks for posting this tax loss reality.
The good news is that the State of California Franchise Tax Board is losing tens of millions of dollars in income taxes from Curry and LeBron James alone.
Oakland and the State of California Franchise Tax Board took a big hit when the Oakland thugs aka Raiders moved to Vegas.
Now, their basketball thugs will not be paying as much Califonicator Income tax.
MLB was basically a total loss for everyone involved. The bay area has the former Giants and the Oakland As.
The loss of seasonal ticket sales for all of these Bay area pro thugs has to be in the millions.
Thanks, again, I had not really thought of the loss of taxs for California and probably the host cities when the thugs take massive paycuts!
I also hope no one ever goes back to watching or caring about anything pro-sports, in general.
(Cue Nelson from The Simpsons)
Great news. Less money going to people that hate us.
I hope the have to contract the league down to 6 teams, and then declaim bankruptcy
Now that there is funny!
It’s too bad that my city doesn’t have an NBA team to boycott.
It’s time for a market correction. You just cannot keep paying all these sportsball jocks hundreds of millions of dollars and then think the money from the fans will always flow to keep up with it.
A good hard crash once in awhile will bring them back to reality.
Glad to hear their contracts aren’t fixed but are tied to overall league revenue, which is cratering.
Shut up and dribble. Or whatever.
NBA, mlb nfl are all dead to me
NBA, mlb nfl are all dead to me
But, LeBron says it’s ‘racist’ for the right wings to enjoy his misfortune. Except that, no, it’s not at all ‘racist’.
It’s human nature to take pleasure in seeing a big mouth forced to shut up and re-evaluate the game plan of shoving BLM down our throats.
Maybe people will go back to the novel idea of making your own fun. Having friends over for game / card nights. Playing sports yourself. Having dinner parties , etc.
I do think it would be hilarious if those ungrateful bums lost their jobs or took huge cuts because of their nasty arrogant attitudes.
“NBA, mlb nfl are all dead to me”
Same here, though I never watched the thugball known as the nba.
Obviously a consequence of ray-ciss.
I haz The Sadz for LeeBrown Jimmy and his sportsball hero pals...
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