It is looking increasingly unlikely that this NBA season will return. As COVID-19 continues to rage in the U.S., lockdown is only going to increase in severity as quarantine becomes the priority.
With this news comes a bleak outcome: the NBA will lose at least a billion dollars. And, to offset their losses, the league is instituting pay-cuts for personnel — starting with those at the very top.
This salary reduction includes commissioner Adam Silver and deputy commissioner Mark Tatum, sources said. There are no widespread cuts to the rest of organization; no support or administrative staff are impacted. Top executives and senior leaders are first to takes these cuts now
— Adrian Wojnarowski (@wojespn) March 26, 2020
Woj revealed the cut to be at 20% for at least 100 of the top-earning league executives.
The NBA is reducing base salaries by 20 percent of approximately 100 of the league office’s top-earning executives around the world, sources tell ESPN.
— Adrian Wojnarowski (@wojespn) March 26, 2020
In this business, it’s rare for the guy at the top to be the first to sacrifice in times of crisis. The coronavirus pandemic is something nobody asked for and it’s really encouraging to witness how Silver and the rest of the NBA have responded since things first went downhill.
Silver has done everything right so far and to be the first to take the financial bullet is just another reason he has done such a great job leading the community through this difficult time.
