NBA Claims 'Significant Number' Of Teams Losing Money

http://basketball.realgm.com/wiretap/238758/NBA-Claims-Significant-Number-Of-Teams-Losing-Money



NBA Claims 'Significant Number' Of Teams Losing Money
JUL 15, 2015 1:54 AM


The NBA's revenues have jumped from $3.8 billion in 10-11 to a projected $5 billion next season.

Adam Silver revealed Tuesday after meeting with league owners that the NBA is projecting that it will have to write a nearly $500 million shortfall check to the players after the 2016-17 season.

There was a shortfall in the players' guaranteed 50 percent of revenue for this past season, and there could be another one after '15-'16, as well.

"That's not, of course, the ideal outcome from our standpoint," Silver said. "It's not something we predicted when we went into this collective bargaining agreement."

Silver also said Tuesday that a "significant number" of teams are "continuing to lose money" despite "fairly robust revenue sharing when some teams are receiving $20 million checks from their partners."



Silver cited the cost of competing with high payrolls as well as arena costs, new practice facilities and other infrastructure costs that have gone up.


bob
MY NOTE:  A quote attributed to Mark Twain (but probably wasn't him) "Figures don't lie, but liars will figure" applies here, I believe.


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