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NBPA assets $133M; payout pushes Hunter pay up 50%
Published October 12, 2009
The NBPA reported total assets of nearly $133 million, according to the union’s most recent annual financial filing with the U.S. Department of Labor for a 12-month period ending June 30.
The total is down from $136.7 million for the year earlier. A union source said the decrease was due to a decline in the stock market and other union investments.
According to the NBPA’s latest LM-2 filing on Sept. 25, Executive Director Billy Hunter earned $3.465 million last year, up from $2.318 million the year before. The increase of about 50 percent is attributed to a one-time payout of about $1.1 million for vacation time accrued over 13 years that Hunter has been executive director.
Other top union executives also saw their annual salaries rise.
NBPA general counsel Gary Hall earned $386,470, compared with $382,869 during the reporting period a year earlier. Hall is the second-highest-paid union executive behind Hunter. NBPA associate general counsel Ron Klempner earned $230,613, up from $222,375 during the 12-month reporting period.
Union officials declined to comment on the salaries.
The NBA paid the union $6.8 million in licensing fees in each quarter of the most recent fiscal year, up from $6.25 million a year earlier. The league paid the union $8 million in logo-use revenue, up from $7 million a year earlier.
Similar to its licensing rights deal, the union gives up control of its logo to the league for guaranteed revenue, but no specific reason for the increase was given.
Player dues for the 432-member players association are $10,000 a year and are collected from players out of their annual licensing payments, which for most players averaged about $35,000, the same as last year.
The union saw its total cash receipts dip to $50 million, down from $51.3 million a year earlier. Total liabilities increased to $78 million, up slightly from $77.8 million from the start of the reporting period. The union’s net assets dipped to $55 million, compared with $58 million a year earlier.