NBA executives including Adam Silver to lose 20% of salaries after COVID-19 impact: Report

As NBA 2019-20 season will continue to remain suspended, league will be reducing base salaries of NBA executives by 20%. salary cut will include around 100 top NBA executives situated all over world. Majority of NBA executives at New York hequarters, which includes NBA commissioner am Silver and deputy commissioner Mark Tatum, will be affected as a result of decision.

Also re | NBA suspension could result in BIG $100 million loss to official brocasters: Report

NBA pay cut: league will reduce 20% of NBA salaries

salary reductions will take place immediately and will continue till NBA remains suspended, according to reports. While re was confirmed statement from NBA spokesman Mike Bass, he did talk about ‘harsh ecomic impact’ caused by virus. As per Bass, like every or company, NBA will have to take certain measures to prevent long-term dam to ir business by taking some short-term steps.

NBA pay cut: NBA executives will need to deal with a short-term impact to prevent overall losses

Also re | NBA Coronavirus update: Players could reportedly lose 21-24% salary due to NBA suspension

NBA salaries: NBA commissioner and deputy commissioner to also face NBA pay cut

Also re | NBA pay cut: Players might t get paid beyond April 1 during ongoing suspension

As of w, re will be widespre reductions to rest of league and ministrative or support staff will be impacted. To soften blow caused by extended NBA suspension which began on March 11, NBA recently extended ir credit line to $1.2 billion. This will allow league to have more flexibility to use more cash for operating expenses.

NBA coronavirus: When will NBA return?

NBA coronavirus update

only team to anunce a reduction in salaries was Philelphia 76ers. However, team changed ir decision after backlash y received both internally and externally. Furr reports have hinted at an estimated loss of around $1 billion if season does t resume, which includes a $10-$15 million reduction in salary cap. As NBA return remains uncertain, league will continue to face increasing losses. Though NBA is eyeing for a mid-June return, date has been confirmed. As of w, re are 14 NBA members who have been infected.

Also re | NBA salaries: NBA suspension could cause league whopping $1 billion loss in revenues