NBPA Dir of Communications Dan Wasserman yesterday indicated that the NBA "projected a decline in revenues" for the '09-10 season "but they actually rose, so the final losses should have been much less than the league said," according to Brian Mahoney of the AP. The league claims that it lost $340M during the '09-10 season, and refuted a N.Y. Times blog report Tuesday that called the NBA "fundamentally a healthy and profitable business." But in response to the NBA's stance, Wasserman said, "In 2009-10, the NBA repeatedly offered projections that league revenues would decline as much as 5 percent, or $180 million, while also projecting losses of $370 million. Revenues were actually up in '09-10 and the revenue projections were off by as much as $200 million. Yet, the loss figures were only adjusted by $30 million. So yes, we feel there is more than adequate basis for questioning their projections and financials." Mahoney reported because of the "projected losses, the league forecast a steep drop in the salary cap for the 2010-11 season, saying it could fall as low as $50.4 million." Instead, it was set at $58M after the "higher-than-expected revenues following a seven-game finals between the Lakers and Celtics allowed the league to finish slightly up." But that "didn't save the league from the overall losses it says are documented in the data it has handed over to the union." NBA Senior VP/Marketing Communications Mike Bass said, "For Dan Wasserman to suggest that the league's future revenue projection, made before the start of the 2009-10 season during the worst economy in 80 years (which, by the way, turned out to be off by only 3 and a half percent) somehow relates to the veracity of our year-end audited financials is absurd" (AP, 7/6).
THE NBA RESPONDS: The league issued the following statement yesterday in response to Tuesday's NYTimes.com report and the subsequent edition of that story that ran in the July 6 N.Y. Times print edition. The statement reads in part, "The NBA supplied The New York Times yesterday with a point by point rebuttal of Nate Silver's blog posting on the NBA’s financial losses. The New York Times incorporated the NBA’s response into the online version of the story with the following acknowledgement from the reporter: 'I simply have no way to adjudicate the NBA’s claims.' ... Precisely to avoid this issue in our ongoing collective bargaining negotiations with the players’ union, we shared with the union our complete league and team audited financials along with our state and Federal tax returns. The New York Times’ position is that unless we are willing to disclose those same confidential financial documents to them it is appropriate for them to publish a story based on uncorroborated and unsubstantiated news reports" (THE DAILY).
WE'VE GOT YOUR BACK: In Ft. Lauderdale, Craig Davis reports the NBA is "assuring fans their investment" in games during the '11-12 season is "secure and they will be repaid with interest for any that are canceled." All teams are "following a policy set by the NBA office for the lockout." Bass said, "The league-wide policy is that in the unfortunate event of missed games, all season ticket-holders have the option to receive a refund plus interest on a monthly basis for all missed games." Teams are "still accepting payments and taking orders for games that may not be played, and that "will continue through the summer." Bass said that "in the event actual games are canceled, teams will halt payment plans until games resume" (South Florida SUN-SENTINEL, 7/7). In a letter to season-ticket holders Tuesday, the Suns offered "two refund options if games are canceled due to the labor dispute." If season-ticket holders "do not ask for a refund on canceled games, they will receive 10 percent annual interest on the ticket price for each canceled game." They would be able to "use the investment on tickets for canceled games and the interest as credit toward future ticket purchases." Under the second option, if season-ticket holders "prefer a refund on canceled games, they will receive a credit equal to 1 percent annual interest on the season-ticket account." They would receive a "monthly refund for tickets to the previous month's games, plus accrued interest" (ARIZONA REPUBLIC, 7/7). The Hornets yesterday sent a similar e-mail to their season-ticket holders, who "must decide by July 29 which one of the 'options' they’ll choose" (New Orleans TIMES-PICAYUNE, 7/7).
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Moore (l) and Johnson are considering playing
in Europe next season due to NBA lockout |
HEADING TO EUROPE? ESPN.com's Marc Stein cites sources as saying that Nets G Deron Williams is "planning to play in Turkey in the fall if the NBA lockout has not yet been settled." The sources "confirmed a report from the Turkey-based sports outlet NTV Spor that Williams has struck an agreement in principal to play for Besiktas, which is the club that briefly employed" Allen Iverson last season. Sources said that Williams "will not be required to report to the Turkish club before the end of August or early September and that his deal with them will include an immediate out that allows him to return to the NBA as soon as the work stoppage ends" (ESPN.com, 7/7). Agents for Celtics draftees JaJuan Johnson and E'Twaun Moore said that both players "are exploring overseas options that could find either or both in a foreign league next winter." Bill Duffy, whose BDA Sports agency reps Johnson, last week said that "he is looking into the international option for all of his young players, who may have a unique appeal to foreign teams." Mark Bartlestein, who reps Moore, said, "It may work out better for rookies. There may be more opportunities for young players like that, but we’ll see." In Boston, Mark Murphy notes should Moore or Johnson sign, "it’s unlikely that the deal would allow either player to return to the Celtics once the lockout ends." BDA's Kevin Bradbury said, "Everything is on the table, and we’ll see what’s best for our guys. Nothing is in stone here, but we’re looking at everything as an opportunity" (BOSTON HERALD, 7/7).
