NBA salary reductions expected in the future
Major executives in the NBA are facing the likelihood of their salaries being sliced amid the NBA being stopped thanks to the COVID-19 outbreak. Talk is that salary slicing of 20% is going to kick in soon, with reports coming out from the sport that this will be happening in the near future.
This would mean that the highest paying executives within the sport would be given a wage cut in a bid to help stem the flow of financial losses. With no games being played, sports are a money-haemorrhaging industry. That’s why there is such a rush in the NBA and various other sports to find a way to cut costs from those who can actually afford the cuts.
These cuts will become effective more or less immediately, and it will mean that those in the New York HQ and the wider global offices will see a drop-off in their income. This was reported first by ESPN and then in the Associated Press, so it looks pretty likely that it will come into effect ASAP.
So far, though, this has been an anonymous tip-off for the most part. There is still to be full confirmation of this taking place. For now, though, it looks very likely to happen. The NBA would simply be following the rules and ideals of the other major sporting competitions out there. Cuts are being made all across the sporting world, so the NBA – despite its massive popularity – is unlikely to be safe from cuts either.