NBA Owners Are Full of It, Part XII
By Jason McIntyre
"NBA.com: Even at this late date, from interviews given by Hunter, Fisher and others on the players’ side, there seems to be skepticism of the league’s financial numbers, as if the audited figures aren’t to be believed. KM: I would say the primary disagreement is not over the accounting numbers. It’s what you include and how you interpret the numbers. For example, the accounting picture of the NBA isn’t very different from what it was five years ago or 10 years ago in terms of ratio of revenues to costs and all the rest — it’s changed very little. Which immediately tells you, wait a minute, if the underlying financial picture is similar today to what it was five years ago or 10 years ago, and people are paying $400 million or whatever for franchises, and you’re telling me that these things lose money every year, something’s missing, right? These people aren’t stupid, right? These guys are worth billions of dollars. So why did they pay all this money for franchises that, it looks like, lose money?"
Read it all. The best stuff seems to be at the bottom.
Renowned economist Murphy lends smarts to NBPA’s cause [NBA.com]
Previously: The Face of NBA Lockout Greed: Paul Allen