15 Jun 2010

NBA losing money?

David Stern, Commissioner of the Nat'l Basketball Association, claims that NBA owners are losing money.

Although I don't typically agree with unions, this time I am pretty sure they are correct in their claim that Stern and the owners are inflating losses and hiding gains. Owners, while perhaps making operating losses during the season, do not discuss or include their franchise's appreciation in their calculations. I can buy an NBA team and operate it at a loss for a couple years, milk the city for a new stadium, and then resell the franchise for twice what I paid. That has and will continue to happen. Until Stern addresses this and releases accurate figures (he never will) don't believe his idiotic loss claims.

This reminds me of Bud Selig's congressional remarks a couple years ago saying essentially the same thing.

Bottom Line: Enjoy the NBA playoffs when the energy is high.

1 comment:

  1. The real problem is that they grab taxpayers' money to pay for their plush stadiums. Even if you hate B-ball, you're forced to pay for it.


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