15 Feb 2010

NBA could lose $500 million this year

12:44 pm on 15 February 2010

America's National Basketball Association could lose more than $500 million this year because of the flagging economy and a crippling labour agreement, says commissioner David Stern.

Stern says that players' union representatives have been shown figures outlining the NBA's current economic circumstances, which project a league-wide loss of around half a billion dollars - double previous losses under the current players agreement.

He says the current level of revenue devoted to players' salaries is too high at 57 percent, and he hopes to begin discussions with the players' union before the current agreement expires in July next year.