Los Angeles Lakers Worst Affected as NBA Set to Lose Around $1.7 Billion in Ticket Market Value
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When the NBA got suspended in March, financial implications were bound to arise. Loss of ticket revenue and television revenue are two of the biggest blows the NBA faced. According to ticketiQ, the league is set to lose around $1.7 billion in ticket market value. The worst affected team will be the Los Angeles Lakers, who are estimated to lose around $82 million.
The Lakers will be earning around $12 million from broadcast rights for the upcoming games. But they lose $8 million because they won’t be able to play their 82 regular-season games.
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Los Angeles Lakers veteran explains why players should return
Los Angeles Lakers veteran Jared Dudley expressed that the financial consequences would be catastrophic if the season doesn’t resume. In a conversation with, Spectrum Sports Net, Dudley said, “If we do not play, and there is no season, that means the TV money from Disney and ESPN, they don’t have to pay that money. The following season with no vaccine, and that money not being in there, that cap of being able to pay $120 million for players, goes down almost in half, if not 40%.”
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With players like Kyrie Irving unwilling to return to the NBA in July, the ramifications could be serious. According to ESPN’s Bobby Marks, $1.2 billion will be lost in player salaries alone. That is 35% of the total pay. And the worst part? The NBA has the leverage to tear up the CBA (Collective Bargaining Agreement).
Players have the right to do as they choose. However, the economics on not playing are devastating:
💰$1.2B in lost player salary (35% of total pay)
🏀NBA now having leverage to tear up the CBA and negotiate a new one.
💰$2B lost in revenue to the league— Bobby Marks (@BobbyMarks42) June 13, 2020
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According to the official NBPA website, the CBA sets out the terms and conditions of employment for all professional basketball players playing in the National Basketball Association, as well as the respective rights and obligations of the NBA Clubs, the NBA, and the NBPA.
This agreement runs through till the 2023/24 season. However, if the NBA cancels it, we could be in for a repeat of the 2011 lockout again.
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