NBPA head Michele Roberts released a statement today in response to commissioner Adam Silver’s recent comments where he indicated that several NBA teams were still losing money despite the salary givebacks and enhanced revenue sharing agreed upon in the last CBA (h/t RealGM). “Under the CBA, we do not have a gross compensation system. The players’ 50% share is calculated net of a substantial amount of expenses and deductions,” Roberts said. “New and renovated arenas around the league have proven to be revenue drivers, profit centers, and franchise valuation boosters. That has been the case over the past few years in Orlando, Brooklyn, and New York, to name a few. In some instances, owners receive arena revenues that are not included in BRI. Many teams also receive generous arena subsidies, loans and other incentives from state and local governments as part of their arena deals.”
Roberts concluded by adding, “Virtually every business metric demonstrates that our business is healthy. Gate receipts, merchandise sales and TV ratings are all at an all-time high. Franchise values have risen exponentially in recent years, and the NBA has enjoyed high single digit revenue growth since 2010/11.”
Here’s more from around the league:
- A league source tells Marc J. Spears of Yahoo! Sports (Twitter link) that there are approximately 10 NBA teams that are currently losing money.
- Terdema Ussery, a finalist for the union executive director position that went to Roberts, is leaving his position as president and CEO of the Mavericks effective August 30th, the team announced via press release. He’ll join Under Armour, the Mavs said.
- Former Georgetown forward Greg Whittington has three partially guaranteed deals on the table from NBA squads, Shams Charania of RealGM tweets. The undrafted 22-year-old has averaged 15.7 points per game during Las Vegas Summer League play, Charania notes.
- Shooting guard Daniel Hackett, who worked out for the Knicks, has officially signed with Olympiacos of Greece, the team announced (translation by Enea Trapani of Sportando).
- Austin Rivers‘ two-year deal with the Clippers will pay him $3.1MM for next season, $3.3MM for the 2016/17 campaign, and the guard has a player option included in his contract for the final season, Eric Pincus of Basketball Insiders tweets.
- The deal that Nemanja Bjelica inked with the Timberwolves will pay him $3.95MM for the 2015/16 season, $3.8MM the following year, $3.95MM during the 2017/18 campaign, and all three seasons are fully guaranteed, Pincus relays (on Twitter).