NBA To Cut 80 Jobs In Struggling Economy

[OhioChick]

Source: Internet Broadcasting

Stern Says Season-Ticket Sales Down

POSTED: 8:39 am EDT October 13, 2008
UPDATED: 8:51 am EDT October 13, 2008

The NBA will cut about 80 jobs, Commissioner David Stern told Reuters on Sunday.

Stern told the media outlet that the NBA will lay off about 9 percent of its workforce because of worries about the U.S. economy.

The commissioner told Reuters that there has been a decline in season-ticket renewals, and he expected that once the regular season starts at the end of the month, there will also be a drop in single-game ticket sales.

"We made a decision some months ago that the economy was going to be a bit wobbly, so we began a belt-tightening that will result in a work-force reduction of about 9 percent domestically," Stern told Reuters before a preseason game in London.


While in London, Stern told The Associated Press that the NBA will likely play regular-season games in the British capital during the lead up to the 2012 Olympics.

Stern also said the NBA will use the London Games as a tool to increase its marketability in Europe.


Read more: http://www.newsnet5.com/save-money/17701340/detail.html

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People have no jobs to pay for tickets......

They'll be playing "regular-season games in London??"

[chelsea0011]

1. They can start with Stephon Marberry.

[meow2u3]

16. Damn straight!

Marbury single-handedly brought down the Knicks from a respectable, classy, yet championship-caliber team to disgraceful losers, in more ways than one.

[chelsea0011]

19. So much talent wasted in a career.

[Democrats_win]

2. If they cut pay of the overpaid players by a small amount, they wouldn't have to cut.

Just think the players probably lost a big chunk in bush's Fraud Street. At this time it is wiser to invest in Americans.

[WriteDown]

3. Players union would never allow it....

This is actually an excellent time to invest in the stock market.

[SahaleArm]

10. Credit Card, ALT-A, Option ARM, I/O's ARM failures are still to come...

Wages are stagnant and consumer spending is about to get obliterated and it's a good time to buy what?

[WriteDown]

11. I would buy GM

Of course it would have been better to buy it when it was at 4.70 at Thursday's close.

[SahaleArm]

17. Buy a company that lives off discretionary income? Really? n/t

[Blue_Tires]

4. they can eliminate 3-4 worthless teams....

[tridim]

5. It's either the economy, or the fact that NBA basketball sucks because it's fixed.

It's also boring IMO, but I'm spoiled by college basketball.

[Coventina]

6. How about offering tickets at reasonable prices?

I bet they would sell more tickets is people could actually afford them.

Professional sports is supposed to be entertainment for us working-class folks.

My season symphony package is a FRACTION of the price (less than $200) and it's supposed to be an "elite" activity.

The world is upside down.

on edit: clarity

[shanti]

7. maybe if the teams

LOWERED THE PRICE of tickets, more people might go!

[DeepBlueDem]

8. The NBA should impose a "hard" NFL type salary cap

Plus, David Stern is the worst commissioner in sports.

He wants to expand into Europe. I wonder if hes eliminating the current US cities with franchises in order to expand into Europe. (i.e. Seattle for Oklahoma City, but with an international sense)

Along with Overpaid Rookies coming out of HS or with 1 year in College.

Playing regular season games in London, but they have cut jobs...WTF! I was done with the NBA since MJ left. Im with the previous poster, College Basketball is where its at.

[OhioChick]

15. Now back in the day of MJ....

That was real basketball!

Welcome to DU! :hi:

[Azlady]

9. FIne by me....digging college better anyway...but

a shame that again we are seeing more job loss..perhaps reducing the ticket prices would get people back to buying them, have sold out games again...then people could keep their jobs.

[MikeNearMcChord]

12. The real nightmare for the NBA may come in 2010

If LeBron James as some have rumored may go play in Europe where the Euro is worth more, some players are considering that route.

[DeepBlueDem]

13. Kobe Bryant,"I would consider playing in Italy"

[OhioChick]

14. Ah.....my money is on LeBron being in New York. n/t

[KamaAina]

18. They're contracting the Atlanta Hawks?

wait a minute, that'd only be 12 jobs, plus a couple of coaches...