Isaac
Years ago
Rick Burton on the struggles of major leagues
One time NBL top dog Rick Burton has a piece in Sports Illustrated on the struggles of US sporting clubs.
Looks like it's not just the NBL that may be paying a lot to players while barely keep afloat.
Is it really that bad? Are pro teams really looking over their shoulders at their brothers in arms and thinking they don't have the moxy to stay in the game?Full article
Recently, the NBA announced it was borrowing $175 million and making it immediately available to bail out 15 struggling teams facing operating losses. That money sits on top of $1.7 billion of league-wide credit the NBA draws as collateral from its media contracts to help teams fight the good fight. The Orlando Magic says it has been annually losing $15 to $20 million and essentially needs a bridge loan to survive.
The Magic is close to one extreme but based on new information may not even be the worst of the NBA's franchises. In fact, this week, Indiana owner Herb Simon suggested the the Pacers could lose up to $30 million this season and might not be able to survive.