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The National Basketball Association (NBA) offseason could end on December 1 under a proposed 2020-21 schedule that would include starting the regular season on Christmas Day.
Members of the NBA’s Board of Governors are discussing the feasibility of a short period of free agency after the Nov. 18 draft with training camps starting Dec. 1, according to various reports.
The proposal, in part, is a response to the league’s $ 1.5 billion financial shortfall caused by the COVID-19 pandemic, including lost revenue at the stadium, the costs of staging the NBA restart near Orlando and diminishing sources of additional income.
According to The New York Times, the proposal under consideration includes 72 regular season games instead of the usual 82.
The NBA was on hiatus from March 11 until mid-July, when teams in contention for the playoffs reported to Florida. The postseason ended on October 11 with the Los Angeles Lakers winning the Larry O’Brien Championship Trophy.
REVENUE DROPPED 10%
The coronavirus pandemic combined with the loss of business in China sent NBA revenue down 10% in the 2019-20 season, ESPN reported Wednesday.
Intake dropped to $ 8.3 billion, and the league said it lost $ 800 million in ticket sales and $ 400 million in sponsorship and merchandise, according to ESPN.
Additionally, the controversy sparked by then-Houston Rockets general manager Daryl Morey tweeting his support for Hong Kong protesters against the Beijing government cost the NBA $ 200 million in “net negative impact,” according to the report.
ESPN reported that it obtained the figures that the league shared with its teams.
The balance of the NBA is of great importance to the league because the player’s annual salary cap is tied to the league’s income.
According to ESPN, if the latest figures were treated in the standard way, the salary cap for the 2020-21 season would drop from the expected $ 109 million per team to approximately $ 90 million. However, the team owners and the National Basketball Players Association are in talks about the formula to be used for next season.
Complicating matters is the fact that part or all of next season could be played without fans in the stands. According to the report, a full season under such circumstances would cause a 40 percent drop in revenue, about $ 4 billion.
The only positive news for the NBA in the report was that the restart of the season in a “bubble” near Orlando, Florida, marked a financial victory as well as a sporting success. Play was halted in mid-March due to the pandemic, but 22 of the league’s 30 teams resumed the regular season in the bubble in mid-July, and the remaining games until the NBA Finals were played on ESPN Wide. World of Sports Complex. .
The bubble ended up allowing the league to earn $ 1.5 billion that would have been lost if the season had been abandoned, according to ESPN. Spending from the bubble totaled $ 190 million, a $ 10 million increase from the expected figure. – Reuters
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