NBPA Hires Investment Bank As An Adviser To Identify Current, Future Revenue Streams

The NBPA has hired N.Y.-based investment bank Jefferies Group "as an adviser," according to Soshnick & Keller of BLOOMBERG NEWS. Jeffries Global CMO and Managing Dir Richard Khaleel said the players asked the firm "to identify all possible current and future revenue streams on behalf of their members." The upcoming CBA negotiations will mark the first time NBPA Exec Dir Michele Roberts "has led labor talks" since coming into her position in '14, and "turning to an investment bank signals new strategy for the union, which in the past sought counsel of academics and economists." The players currently "receive about half of basketball-related revenue, which includes TV deals, ticket sales, merchandise," down from 57% under the previous contract. The NBA currently "pays the union a lump sum for the right to use them." With Jefferies, the players are "likely to review the value of those rights and whether the union could manage that business by itself" (BLOOMBERG NEWS, 5/24).