NBA owners not going to make profit this season, league says

13 Comments

If you believe the league’s numbers — and we’re still skeptical, to put it kindly — the NBA was a long way from turning a profit, they predicted a $300 million loss last year.

A few months into the new collective bargaining agreement that is far more favorable to the owners (no matter what Mark Cuban thinks), the league has not turned those losses around. At an All-Star Weekend press conference Deputy Commissioner Adam Silver said that the league will not turn a profit this year and may not next year.

It seems odd to say that at a time when NBA television ratings are skyrocketing and attendance is up overall. The players have taken pay cuts to lower costs. So costs are down, the NBA’s popularity is booming and profits are not?

Henry Abbott went into more detail and shows why there is some logic to that at TrueHoop.

The explanation from the league is that the cuts in player costs roughly match the losses from last year. But this year the league says there were an additional $200 million in losses related to the lockout, for instance due to lost ticket revenue and corporate sponsorships that didn’t happen.

More importantly, popularity only equals big changes in revenue over years. The most obvious way that happens is with more lucrative national TV deals, but the old deals are still in place for two more years. High TV ratings have not meant new TV revenues for the league. Corporate sponsorships similarly take time to develop.

Where the popularity will really show is in local television and other media deals, particularly the national broadcast rights which are up in 2016. But the league is right, it’s a year or several years before those eyeballs can be converted to cash. Now, if we’re having this same discussion if five years, if the league can’t turn all those additional eyeballs into profits, then they are doing it wrong.

“Ray Allen from long distance” with chip shot to save par at American Century Classic

Leave a comment

“Ray Allen from long distance, how many times have we said that?”

Ray Allen had a good weekend at the American Century Championships, the former NBA sharpshooter and future Hall of Famer finished third in the celebrity golf event. One of the reasons he was there, this chip shot on 13 Sunday.

Former Cowboy’s quarterback Tony Romo won the event, with former MLB pitcher Mark Mulder was second.

LeBron James sits courtside for Lakers’ Summer League win

Getty Images
Leave a comment

There are two, maybe three guys playing for the Lakers in Summer League likely to be sharing a locker room with LeBron James next season — Isaac Bonga and Josh Hart, with maybe Sviatoslav Mykhailiuk and/or Alex Caruso. Only Hart could see the court much.

LeBron was still courtside on Sunday for a quarterfinal game at Summer League, showing his support and being a good teammate. He gave Hart a hug on the court. Brandon Ingram stopped by and talked with LeBron for a bit.

LeBron watched the Lakers continue their strong run through the Summer League, racking up a 101-78 win. LeBron was into it, when Mykhailiuk took a shot midway through the first quarter LeBron yelled, ‘cash only!”  The shot was nothing but net.

The Lakers are on to the Summer League semifinals. Los Angeles won the Vegas Summer League last year.

 

After losing to his father in golf, Stephen Curry leaps into Lake Tahoe

1 Comment

Golf fanatic Stephen Curry was clearly enjoying himself on the links at the American Century Championship celebrity golf event in Lake Tahoe this past weekend.

But he couldn’t beat his father, Dell.

The price? Curry (and his caddy) had to jump in the lake. Check out the video above.

For the record, Tony Romo won the event.

 

Spurs’ pick Chimezie Metu to miss time with fractured wrist

Associated Press
Leave a comment

Chimezie Metu showed some promise in the Summer League games he played for San Antonio, scoring 12.5 points a game on 55 percent shooting in Las Vegas, and 10.7 per game on 54 percent shooting in Salt Lake City. The second round pick of the Spurs (No. 49 overall) is raw and needs a lot of development, but he can get buckets. The potential is there.

That development is going to be on hold a while, as what was thought to be a sprained wrist has turned out to be a fracture.

From Tom Osborn of the San Antonio Express-News.

After an examination Saturday, the Spurs medical staff downgraded second-round pick Chimezie Metu’s left wrist injury from a sprain to a fracture, a league source said Saturday.

Metu was injured late in the Spurs’ 95-90 win over Washington on July 8 at the Las Vegas Summer League, when he landed awkwardly after leaping to catch a lob pass at the rim. The 6-foot-10 big man finished the game but was sidelined for the remainder of the schedule.

After undergoing X-rays at the Thomas & Mack Center, Metu was diagnosed with a sprain. But Spurs’ team doctors suspected a possible fracture, which was confirmed after Metu returned to San Antonio on Saturday.

Metu should be good to go by training camp. Metu is hoping his summer and training camp play will earn him a roster spot, although the Spurs tend not to sign second-round picks the year they were drafted (they tend to let them spend a year or two in the G-League or in Europe). A lot of his chances on making the roster depend on any other moves the Spurs make this summer and what their roster looks like come the fall.