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DenButsu
04-25-2009, 01:33 AM
Stern says NBA teams not in financial trouble

BY ALAN HAHN

The NBA will see a slight increase in revenue this season, but the actual results from 2008-09 are, according to commissioner David Stern, "lower than we had projected." The league also expects revenues to be down again in 2009-10, mainly because of the struggling economy and the lowering of ticket prices by teams adjusting to the recession.

But the notion that the league with the greatest global reach of any of the four major pro sports in the U.S. is in a financial crisis or that any of its teams are in trouble was quickly dismissed by Stern Thursday during an annual meeting with the Associated Press Sports Editors at the NBA offices in Manhattan.

"We have no teams that are in any trouble," said Stern, who earlier this season celebrated his 25th anniversary as commissioner. "Our owners are substantial people who are used to, in many cases, funding operating losses. It's not their preference and we're striving hard to increase revenues collectively and to ultimately have a collective-bargaining agreement and a revenue-sharing agreement that allows every club, if well-managed, to be profitable."

Stern's comments were in response to a report last month that 12 teams had borrowed $200 million from a league-run credit facility. Stern said the...newsday (http://www.newsday.com/sports/basketball/ny-spstern2412689809apr23,0,6733102.story)

DamnGoat
04-25-2009, 03:12 AM
Stern is a liar.

The NBA isn't immune to this current economy. Teams like Sacramento, Oklahoma City, New Orleans, Charlotte, Memphis, Indiana, Minnesota, or any other non-contending small market team is probably having a hard time.

Vinny642
04-25-2009, 03:13 AM
I thought this was to counteract what that weirdo wrote lol

abe_froman
04-25-2009, 03:17 AM
"but the actual results from 2008-09 are, according to commissioner David Stern, "lower than we had projected." The league also expects revenues to be down again in 2009-10"

"Stern's comments were in response to a report last month that 12 teams had borrowed $200 million from a league-run credit facility."

^
that really doesnt seem to mesh with what stern's assessment

ari1013
04-25-2009, 09:04 AM
Increased profit-sharing here we come!

JordansBulls
04-25-2009, 10:18 AM
If teams aren't selling out their games and are near the luxury cap than I am quite sure they are in financial trouble.

IndyRealist
04-25-2009, 01:25 PM
Apparently Stern didn't get the memo from the Pacers, who are staring down a $30M operating loss this year. For those who don't know, the CIB (the governmental board responsible for the Colts new Stadium as well as Conseco Fieldhouse) lost $43M and asked the Pacers to cover $5M of that loss, after the Pacers asked the CIB to cover $15M of their losses. The Colts have refused to chip in. They're looking to increase a food and beverage tax from 2% to 3% to cover the rest, on top of the 7% sales tax, which could push tourism and conventions out of Indy, further depleting the tax base already on it's last legs because of the economy. Things are not good in Pacerland.

And I guess they're building a brand new stadium in Louisville, not 3hrs away....

JLynn943
04-25-2009, 01:36 PM
maybe Stern forgot there's a team in Sacramento?

ARMIN12NBA
04-25-2009, 01:47 PM
The Master of Spin

DreamShaker
04-25-2009, 03:32 PM
Indiana can't afford the building they are playing in, so dunno about that. Maybe he's trying to insinuate that teams aren't in serious trouble of folding...but even in a good Economy teams have had to move...

Kyle N.
04-25-2009, 03:37 PM
maybe Stern forgot there's a team in Sacramento?

Which tells me you didn't read the article.

VCaintdead17
04-25-2009, 03:39 PM
I would really like to believe Stern, but it's just not true. As Indyrealist said, our pacers are in loads of money trouble, we can only hope things improve.