The coronavirus pandemic has effected everyone and every business structure around. The sports world isn’t an exception to this reality.
The NBA will temporarily reduce the base salaries of approximately 100 top executives by 20 percent, ESPN’s Adrian Wojnarowski reports. Commissioner Adam Silver is among those who will take a pay cut.
“These are unprecedented times and, like other companies across all industries, we need to take short-term steps to deal with the harsh economic impact on our business and organization,” NBA spokesman Mike Bass said in a statement to ESPN.
The NBA season has been on hold since March 11 when Rudy Gobert of the Utah Jazz became the first player to test positive. With the likelihood of the NBA season not resuming until June, the NBA is taking a financial hit.
The league recently increased its credit line to $1.2 billion in an effort to offset cash-flow problems. While these measures, the NBA is trying to limit the damage to those that don’t play in the games.
We could see simulate situations in other sports leagues.