Revenue projections for the league this season were missed by about $1.5 billion, the person said. The losses were the result of a combination of factors — the shutdown caused by the pandemic, the cancelation of 171 regular-season games, completing the season in a bubble at Walt Disney World without fans, the nearly $200 million price tag for operating that bubble and a yearlong rift with the Chinese government that saw NBA games not shown on state television there.
Shams Charania: NBA league office informed Board of Governors of projected value for teams and players with Dec. 22 start versus later: More than $500 million, sources tell @The Athletic @Stadium.
The NBA spent $180 million to operate 100 days of basketball in its Disney bubble, but the steep investment allowed the league to stop the loss of $1.5 billion in projected revenue. According to sources familiar with the league’s finances, the Disney restart allowed the NBA to stem the loss of about $1.5 billion in expected revenue, the bulk of the money tied to national and local television revenue followed by league sponsorships.
“Without a doubt, it was worth it,” said one executive from a Disney bubble team of the massive effort and investment needed to complete the longest season in NBA history. The season began Oct. 22 of last year and finally ended on Oct. 11 when the Los Angeles Lakers won Game 6 of the NBA Finals to secure their record-tying 17th title.
Seattle SuperSonics legend Shawn Kemp will officially be in the cannabis business next week. The Reign Man, the high-flying forward who starred for Seattle’s former NBA franchise in the 1990s, is opening up his cannabis shop on Oct. 30, according to a press release.
Kemp will be joined by his former Sonics teammate, Hall of Famer Gary Payton, for the grand opening of Shawn Kemp’s Cannabis next Friday. The green ribbon cutting ceremony is at 12:45 p.m. PT, with the official opening to the public at 1 p.m.