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Disastrous year for NBA sees revenue fall 10 per cent to US$8.3 billion in 2019-20: report
- Citing financial numbers shared with league clubs the report says the NBA lost US$400 million in sponsorships and merchandise this term
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NBA revenues fell 10 per cent to US$8.3 billion for the 2019-20 season disrupted by the Covid-19 pandemic, ESPN reported on Wednesday, saying the league lost US$800 million in ticket income alone.
Citing financial numbers shared with league clubs and obtained by ESPN, the report said the NBA lost US$400 million in sponsorships and merchandise.
The cost of a split with China of a long partnership over tweets by then-Houston Rockets general manager Daryl Morey was put at US$200 million of “net negative impact”, according to the report.
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Losses would have been much worse had the NBA not completed the season and staged the play-offs in a bubble in Orlando, saying US$1.5 billion in revenue was recovered by restarting the season even though expenses for the bubble were US$190 million, US$10 million more than first estimated, sources told ESPN.
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The details emerged as the NBA and the National Basketball Players Association talk over possible start dates for the 2020-21 season and financial terms to update the collective bargaining agreement in the wake of the pandemic.
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