NBA could make $400m loss 15/02/2010 |
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The NBA could lose about $400m this year, commissioner David Stern has revealed.
Stern said at the weekend that players' union representatives negotiating a new ‘Collective Bargaining Agreement’ had been shown figures outlining the NBA's current economic circumstances.
"And basically what those numbers showed, give or take, was this year we are projecting a league-wide loss of about $400m," he explained.
Stern added that the deficit would double previous losses under the agreement, Reuters reports.
"In each of the first four years of the deal, probably losses of a couple of hundred million – at least $200m a year," he said. "At our current level of revenue devoted to players' salaries, it's too high."
Stern said that he was “determined” to change the current revenue-sharing model in the NBA.
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