Updated March 24th, 2020 at 19:08 IST
NBA players, owners determined to save ongoing season "no matter what": Report
While the NBA season is most likely to remain suspended until June, league officials, team owners and players are determined to resume the NBA 2019-20 season.
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While the NBA season is most likely to remain suspended until June, league officials, team owners and players are determined to resume the NBA 2019-20 season. As the NBA suspension extends over months, league finances could reportedly take a hit of approximately $1 billion. Along with financial losses, the NBA suspension will force the league to alter some of their usual events like the NBA Draft, playoffs and finals. A week ago, the Centers for Disease Control (CDC) recommended everyone to avoid gathering with 50 or more people for at least two months.
Also read | NBA suspension could cause league whopping $1 billion loss in revenues: Report
NBA suspension: The league is eager to resume the NBA 2019-20 season
According to reports, there is a 'strong desire' to salvage the suspended season, even if it resumes in the latter half of this year. No one is ready to move on to the next season without completing it, even if it means waiting till September. However, the players, as well as owners, are aware of the ever-changing nature of the situation.
Also read | NBA salary cut: NBA suspension could affect Milwaukee Bucks' attempts to re-sign Giannis in 2021
NBA suspension: The NBA suspension could lead to an NBA revenue loss of $1 billion
Last year's Hong Kong controversy caused by Houston Rockets General Manager Daryl Morey’s tweet in support of protesters in Hong Kong had resulted in a $400 million loss for the league. However, the NBA suspension could result in a loss of $1 billion, if the season does not resume soon. In case of cancellation, the loss will also affect the NBA's salary cap. Though the NBA will take a final call after speaking with public health officials, the revenue loss will most likely affect the upcoming NBA seasons.
Also read | NBA salary cut: NBA credit line to be increased to $1.2 billion from $650 million amid coronavirus
NBA salary cut: NBA might not pay the players on April 15
The NBA informed teams that league will provide "additional guidance" on the April 15 payment date, per memo today. Force Majeure language in CBA allows for a percentage of contracts to be withheld in extreme circumstances. It isn't a surprise NBA would wait on April 15 date. https://t.co/eTmCNL0UH5
— Adrian Wojnarowski (@wojespn)
NBA suspension: NBA credit line to be increased to $1.2 billion to increase cash flow
Amid the coronavirus pandemic, the NBA is planning to raise its credit line up to $1.2 billion, sources tell ESPN. The previous credit line has been $650 million.
— Adrian Wojnarowski (@wojespn)
NBA suspension: When will NBA resume?
Story includes NBA’s willingness to consider team practice facilities for games with no fans — and perhaps a unique television viewing experience. Everything’s on the table. https://t.co/sUDowk4aac
— Adrian Wojnarowski (@wojespn)
NBA commissioner Adam Silver's latest statement hinted at the league remaining suspended for at least a month. However, the league's return could be pushed forward to mid-June. Even then, the league might continue their games without an audience. As of now, teams have confirmed 14 NBA members being infected with the virus. The NBA was suspended on March 11 after Utah Jazz's Rudy Gobert tested positive for the virus.
Also read | NBA salary cut: Players could reportedly lose 21-24% salary due to NBA suspension
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Published March 24th, 2020 at 19:08 IST