Sources: NBA Reduces Top Execs' Base Salaries By 20% Over Virus
The NBA is "reducing base salaries by 20% for about 100 of the league office's top-earning executives around the world" during the coronavirus shutdown, according to sources cited by Adrian Wojnarowski of ESPN.com. Sources said that many of the execs and officials who are "impacted" work in the league's N.Y. HQ, including NBA Commissioner Adam Silver and Deputy Commissioner & COO Mark Tatum. Sources added that these reductions "will be implemented immediately and are expected to continue through the course of the coronavirus crisis." Sources said that there are "no widespread cuts to the rest of the organization, and no support or administrative staff are impacted" (ESPN.com, 3/26). The AP's Brian Mahoney noted before the pandemic, it had "already been a challenging season for the NBA financially," with a loss of revenue from the China fallout. Games were taken off the air and "relationships with business partners were damaged" (AP, 3/26).
JOIN THE CLUB: SI.com's Ben Pickman noted Silver "will not be the first commissioner of an American league to take a salary reduction." PGA Tour Commissioner Jay Monahan also has "reportedly decided to forgo his salary indefinitely during the break caused by the coronavirus." Monahan's senior management team has "additionally agreed to a 25% salary cut until further notice." Meanwhile, the NHL also said that it "will temporarily cut the pay of league office employees" by as much as 25%, starting next Wednesday (SI.com, 3/26).