Financial crisis unlikely to impact NBA, assures Stern 27/10/2008 |
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The world-wide financial crisis will not have a major impact on the NBA, commissioner David Stern said on Thursday, adding the league will expand its brand by staging regular season games in London.
While the U.S. is bracing for a recession, Stern said the NBA, which opens a new season on October 28, is well-positioned to weather the economic storm.
"We're pretty optimistic that this will be a season that will be better in our industry than some other industries," Stern told reporters on Thursday.
"We are aware what our teams' financial situations are and our owners seem to be in position to weather severe storms.
"It doesn't mean that we won't be subjected to some bumps but right now our comfort level is pretty high."
Despite Stern's assurances, the NBA has not been immune to the financial down turn, slashing 80 jobs from its U.S. work force earlier this month.
While the league is cutting back at home it continues to push into foreign markets, with Stern confirming it is planning to play regular season games in London ahead of the 2012 Olympics.
The NBA has staged a series of exhibition games overseas in recent years but resisted following the NFL, NHL and Major League Baseball to play regular season games offshore.
"We decided with the lead up to the Olympics we'll pop a regular season game or two or more over there by the 2012 Olympics," said Stern.
"But it's not about using one game to establish a base.
"We've got our headquarters in London...we've got a functioning business and these games are nice to add to that business."
INTERNATIONAL AGREEMENT
With the growing number of foreign players in the NBA and their participation in international tournaments increasing, the NBA also examined the agreement between the league and the International Basketball Federation (FIBA).
Some NBA team owners have expressed concern over the quality of medical treatment players have received at international events and there have also been complaints national teams have pushed them to play while injured.
"We did review with the owners the agreement with FIBA under which we authorize our players to play in international competition and there was general agreement that (it) continues to be a good thing for the NBA and basketball," said Stern.
"There may be some discussions with FIBA about how we might improve it but we ...like it and we're planning to live with it."
The NBA also announced it would expand the use of instant replay, with officials now able to use the replay to determine whether a shot was a two-or-three point attempt or whether a player shooting was fouled.
(Source: Reuters)
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