Here’s How the NBA is Planning to Counter Revenue Crisis Through Unconventional Ways

Published 11/03/2020, 1:40 PM EST

The NBA executives face quite a challenge right now. After successfully completing the 2019-20 NBA season, they train their focus to the next season.

As of now, the league is one of the only sporting organization in the world to find their way back to normalcy yet register 0 positive COVID-19 cases.

While the task of finishing the season safely is highly impressive, officials cannot rest on their laurels. Due to the hiatus in the 2019-20 season, the 2020-21 season’s start was delayed by a few months. This was due to the NBA season ending in October, as opposed to July of 2020.

Article continues below this ad

Now, officials are hoping to bring the league back to action for the 2020-21 season before the end of the year. Officials were rumored to have decided on starting the new NBA season on December 22nd, 2020.

The season would be shortened to 72 games and would sport a tighter schedule. The season would end in June 2021 so that players could fulfill their commitments to the US Olympic Basketball team.

But the NBPA has been resistant, asking for the season to start in January so that they get a slightly longer off-season. Players from the Miami Heat and Los Angeles Lakers have a good standing to ask for some extra time.

The two sides went to 6 games in the NBA Finals, through the first 2 weeks of October, which the Lakers were the better for.

NBA in financial trouble

Regardless of whether officials understand the demand, they are not in a position to indulge the players. Reports have surfaced which suggest that the NBA could lose close to $1 Billion if they delay the start of the new season even by a month.

The financial strain that COVID-19 has placed on the league and the franchises is massive. Therefore, the NBA must get players to agree to the December start, for their own benefit.

The NBA is searching for ways to increase cash flow into teams, and sources said the league is hopeful to expand guidelines on sports betting, hard alcohol and casinos that could generate between $80M and $100M in revenue. https://t.co/TDQIuQONvF
— Adrian Wojnarowski (@wojespn) November 3, 2020

Article continues below this ad

ESPN’s Adrian Wojnarowski reported on Twitter that officials are looking for ways to generate greater revenue for the league and the franchises.

He tweeted “The NBA is searching for ways to increase cash flow into teams, and sources said the league is hopeful to expand guidelines on sports betting, hard alcohol and casinos that could generate between $80M and $100M in revenue.”

Article continues below this ad

Should officials be able to construct a method to increase revenue, it would reduce a great burden for the NBA. It softens the blow that COVID-19 dealt to their pockets. NBA Commissioner Adam Silver will be doing everything in his power to ensure this strategy is successful.

NBA Could Lose Over a Billion Dollars Because of Players’ Reluctance to Start Early: REPORTS

SHARE THIS ARTICLE :

Written by:

Aaditya Krishnamurthy is an NBA & NFL journalist for EssentiallySports, before which he worked at BusinessWorld magazine. He has been a fan of Basketball for over 10 years now, since Shaquille O’Neal was a Phoenix Suns player. During his time at Symbiosis School for Liberal Arts, he started a sports magazine for the college called the Overtime Tribune and hosted the Overtime Tribune Podcast until he graduated.

Here’s How the NBA is Planning to Counter Revenue Crisis Through Unconventional Ways

NBA in financial trouble

Trending

Shaq Warns Lakers Locker Room Of Jeanie Buss Game Plan If Darvin Ham & Co Fail Vs Nuggets

Heat Injury Report: Latest On Jimmy Butler, Terry Rozier, Duncan Robinson Ahead of Game 2 vs Celtics

Joel Embiid Banned By Empire State Building After Dangerous Incident On Court With Mitchell Robinson

“So Rigged”: All Hell Breaks Loose as Jamal Murray Forces LeBron James’ Lakers Into Bitter Embarrassment

“It’s Just Basketball”: LeBron James Rambles About Anxiety After Lakers Fall To Nuggets At Home