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NBA: 22 teams in the red, $300 million loss

Posted on: April 15, 2011 1:45 pm
Edited on: April 15, 2011 3:52 pm
 
Commissioner David Stern, Deputy Commissioner Adam Silver comment on league's finances and CBA negotiations, as an owner tells Ken Berger of CBSSports.com that some progress was made at NBA Board of Governors meeting. 
Posted by Matt Moore

During the press conference following the NBA Board of Governor's meeting, NBA Commissioner David Stern and Deputy Commissioner Adam Silver commented on the ongoing CBA process. Stern said they expected $300 million in losses this season, which is a rise in revenue from last year's $340 million loss, but still "nothing to be proud of" Silver said. That's still, you know, $340 million in losses. Silver told reporters in response to a question from our own Ken Berger that most of the loss came from non-gate revenue, as gate receipt numbers were actually up this season. 

Most striking was Silver's comment that 22 of the 30 NBA teams posted a loss this year, with only eight making a profit. I'll let you figure out which teams are those eight.  (Hint: Look at the big cities on the map.)

An owner told Ken Berger of CBSSports.com that there was "progress" on revenue sharing and their stance towards the NBPA, but of course, no plan in place. "It's early" as the old chestnut goes. Stern also made mention of the progress on revenue sharing and revealed that the owners would, in the next few weeks, finally send the players' association a counter proposal, which they have not done since late 2010. The owners refused to respond to the NBPA's last proposal with one of their own until now, though discussions have been held regarding the players' proposal in meetings. Silver commented that the league felt there are "other ways to reach the same goal" in regards to the counter-proposal. 

The lockout situation looks better today than it did yesterday, the Kings' staying in Sacramento looks better, and the Pistons sale will be approved in the next few months. Maybe doomsday isn't around the corner after all. 
Comments

Since: Feb 13, 2010
Posted on: April 18, 2011 6:13 pm
 

NBA: 22 teams in the red, $300 million loss

Dabiggchill:  There are fewer players on an NBA roser than an NFL roster, thats why they can get paid more.  How taxing it is on your body means nothing to the fans, the only person who should concider this is someone deciding which sport to play.  Lastly, you didn't get to see Yao because he is hurt, has been hurt forever and will likely retire without ever playing another productive NBA season.  You didn't get screwed, you didn't read the news paper.



Since: Feb 13, 2010
Posted on: April 18, 2011 6:06 pm
 

NBA: 22 teams in the red, $300 million loss

RonnieB2331 have you given any thought to what you just wrote?  First of all, thay are overpaid as basketball players and other  pro athletes.  When we break them down to just a "job" category, they  are not all that important.  I say doctors, plumbers, police, firefighters, farmers, etc. are much more important.  
Now, I agree that if people want to pay high prices for tickets, drinks, parking and food, more power to them.  I think I do okay, but i will spend my money elsewhere and I love sports.
As far as the clothes and shoes they wear, they are way over priced and not even made in America.  They are getting rich off of the endorsements and the owners of the companies are getting rich, but the poor workers in Viet Nam, Thailand and other 3rd world countries are getting snot!!!!  American workers are basically getting no benefit.
Most athletes do not live in the real world and most greatly exaggerate their worth.

What does this have to do with made in America, Vietnam, where you choose to spend your disposable income or any other point you try to make?  They make a lot of money because they generate revenue.  The clothes, tickets etc. are not overpriced because the market has set the value.  Just because you are not willing to pay the price does not mean there are million of other willing and able consumers who agree with you.  Yes, there are jobs that are much more important to the continuation of mankind and lives are not in athletes hands but those people do those jobs like to watch athletes do their jobs and give up their money to do so.  What do you have against people making a profit?  



Since: Oct 2, 2006
Posted on: April 18, 2011 3:19 pm
 

Players.....who needs em?

I LOVE Jerry Buss, Marc Cuban, and those super cool dudes in Sac with the radical ed hardy t-shirts! I go to the games only to get a glimpse of them! I wish they would stop playing with the silly ball and just bring the super awesome owners out onto the court thangy, it would be so cool to watch them drink fine wine! My dream is that someday they will just put a couple of thrones in the middle of the court for the owners to sit in and then we could all just bask in their greatness.



Since: Sep 30, 2010
Posted on: April 18, 2011 2:02 pm
 

NBA: 22 teams in the red, $300 million loss

Sorry mrbokc but yes these guys are OVER-PAID!!!  Come on dribble the ball, layup, dunck, shoot the ball, etc etc for millions? Give me a break.  Athletes of today are not worth millions.  Its just a money making business for the corporations (Niki) and team ownerships. Both have no choice but to pay these so call glorified post college (if that) athletes.  Believe me if there was no money to be made outside sports these so call glorified athletes of today would be getting paid nothing.  I would bet it wouldn't be in the millions. 

"What ever profession you are in i can go get a book and learn it and do it. I cant say hey i want to play in the NBA and go do it. Athletes do things that most of us wished we can do. That is why they are paid so much. Granted there are some that i look at and say i would have made that cautch or i could have mad that layup. But in all actuality we probly would have done the same thing or worse".



Are you for real?  Athletes in general are over-paid.  In today sports their paid so much money because of people like you.  People that are living their child hood dreams and are willing to pay high dollars for tickets-not me!  I woke up after high school.   I really could careless of being one of these guys.  Basketball isn't as hard as baseball.  I played all 3 sports baseball, basketball, football in high school.  I lettered in all 3 and found that out of the 3 sports baseball was harder to play.  Try hitting a ball at 80-90 mph.  And running to catch a ball.  IMO Basketball doesn't take too much athletesim like in football and baseball.   

I like watching all 3 sports but Im not going to die over it if I miss a game.  If I had to choose between Medical school and professional sports I would choose medical school.  Hell most of these glorified athletes are broke after their long careers because either someone who was managing their money ripped them off or they just didn't have the smarts to manage it.  You know women, cars, big homes, etc etc. 

But on the other hand I  love watching my kids play.  Now thats an enjoyment.  I've gotten sick of watching so-call professionals athletes and their baby ways on the courts or fields.  



Since: Sep 24, 2007
Posted on: April 17, 2011 4:22 pm
 

NBA: 22 teams in the red, $300 million loss

Actually you sir prove very unqualified to discuss mattes of business. As of 2009 the MLB generatds $522 million in profit, nowhere close to $3 billion (see source below). Also the NBA's business model is flawed, but not for the reasons you mentioned. The problem with the league is not with the salaries of star players; after all the stars are what puts fans in the seats and eyeballs on the tube. The flaw in the league's business model is that mid-level players are often making salaries approaching $10 million annually. The owners believe scaling back the salaries of these mid-level players as well as capping the number of guaranteed years in contracts are important factors in making their investments profitable.



Since: Oct 10, 2006
Posted on: April 17, 2011 3:04 pm
 

NBA: 22 teams in the red, $300 million loss

Athletes do things that most of us wished we can do.

Actually, most people can play basketball....just some are better than others. That's the ONLY difference between you and the guy who is employed by an NBA team. 
I know some really good Beanbag players who average 2 hole in ones per 4 tosses. Think they deserve 10 million year for that in league play? How about Bowling leagues Where guys average 298 or Softball players who's batting average id .600. A lot of us play sports for leisure. Nobody is a Doctor, Lawyer or Police officer for leisure...those are careers. What Athletes do is a hobby which they get paid to do. They make their hobby into a career, and they should be eternally grateful to do that. Nobody should be getting 15 million per year for their hobby.



Since: Dec 25, 2006
Posted on: April 16, 2011 7:06 pm
 

NBA: 22 teams in the red, $300 million loss

mrbokc, granted pro athletes are in a very small elite group.  You are correct, most of us cannot do what they can do.  If we could we most likely would be pro athletes.  Most of us are not between 6' 3' - 7" something and can jump through the roof.  No doubt, they are gifted.  Some are even gifted and good citizen.  Just look at dwight Howard.
The reason the NBA is losing so much money is we are in a recession/depression (call it what you want) and many people in this country are out of work and, some, are out of their homes.  Yet, many pro teams have increased their ticket prices and, most likely, their parking, food and drink prices.  God forbid, if one wants to buy a cap or jersey!!
Some colleges understand this and, yes, they have reduced their prices!!!  BTW, college athletes are in an elite group.  It is just much smaller than the pro athletes.
As far as getting a book to do some of our jobs, it isn't that easy.  I still say famers, doctors, policemen, firemen, plumbers, teachers, etc. are more important than pro athletes.  Go get your book(s) and do their job(s).



Since: Mar 6, 2009
Posted on: April 16, 2011 4:36 pm
 

NBA: 22 teams in the red, $300 million loss

Overpaid I cant beleive some of you call these guys Overpaid. Can you do what they do. Do we have some hidden NBA Gems on this board. No  and the reason they are paid that much is they are special to society. What ever profession you are in i can go get a book and learn it and do it. I cant say hey i want to play in the NBA and go do it. Athletes do things that most of us wished we can do. That is why they are paid so much. Granted there are some that i look at and say i would have made that cautch or i could have mad that layup. But in all actuality we probly would have done the same thing or worse.



Since: Aug 11, 2006
Posted on: April 16, 2011 3:20 pm
 

NBA: 22 teams in the red, $300 million loss

Crookedlattaman:  Your facts are actually pure fiction.  Major League Baseball, for example, nets a profit of nearly $3 billion annualy.  The NBA, on the other hand, has lost $300 million this year.  My assertions aren't a criticism of the sport of basketball.  It is purely a criticism of the NBA's brand of basketball.  As a business, the NBA is in terrible shape because it's run poorly and a handful of star players have been allowed to hijack the integrity.



Since: Dec 25, 2006
Posted on: April 16, 2011 3:05 pm
 

NBA: 22 teams in the red, $300 million loss

RonnieB2331 have you given any thought to what you just wrote?  First of all, thay are overpaid as basketball players and other  pro athletes.  When we break them down to just a "job" category, they  are not all that important.  I say doctors, plumbers, police, firefighters, farmers, etc. are much more important. 
Now, I agree that if people want to pay high prices for tickets, drinks, parking and food, more power to them.  I think I do okay, but i will spend my money elsewhere and I love sports.
As far as the clothes and shoes they wear, they are way over priced and not even made in America.  They are getting rich off of the endorsements and the owners of the companies are getting rich, but the poor workers in Viet Nam, Thailand and other 3rd world countries are getting snot!!!!  American workers are basically getting no benefit.
Most athletes do not live in the real world and most greatly exaggerate their worth.


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com