It seems like an eternity ago now, but Daryl Morey’s infamous tweet in support of Hong Kong has cost the NBA a lot of money. Despite being pushed to the backburner when the season began, China has not forgotten the words of the Rockets GM.
Morey started an international crisis when he famously tweeted out in support of Hong King protests against China.
At the time, it was the story of the league as many weren’t sure what kind of penalty the association, the Rockets, and Morey would face.
With about half of the season done now, and Chinese sponsorships pulled, the league is definitely feeling its effects, even if it’s not longer in the headlines.
China’s decision to pull sponsorships and television coverage because of Daryl Morey’s support for Hong Kong is believed to have cost the NBA anywhere between $150 million and $200 million, per @wojespn
— NBA Central (@TheNBACentral) January 30, 2020
And, according to ESPN’s Adrian Wojnarowski, it will impact the upcoming salary cap projection.
The loss of the league’s China-driven revenue has caused many front-office executives to tell ESPN that they’ve been preparing for the possibility that the original 2020-21 cap projection of $116 million could drop as far as $113 million.
China’s decision to pull sponsorships and television coverage because Houston Rockets general manager Daryl Morey tweeted support for anti-government protesters in Hong Kong in October is believed to have cost the NBA anywhere between $150 million and $200 million, league sources said.
This hit in revenue will ripple through the rest of the league, and there’s no telling when it will recover.