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October 26, 2021

400 rank-and-file jobs lost in NBA lockout: report

You almost need a Cornell MBA to follow sports these days, though since the NFL avoided missing any regular season action, fans are stuck now navigating a murky labour situation in basketball.

Stock-photo-15561878-basketball-on-the-floor-of-courtOn the surface, of course, it seems like millionaires squabbling with billionaires, and that’s a tough pill for consumers to swallow at a time when, say, Canadians can’t retire to save themselves.

Certainly, the issues surrounding the NBA lockout are complicated – the talks have stalled because of disagreements between players and owners over how basketball-related income, which accounts for everything from ticket sales to concession takes, should be divided, as well as player contract lengths and a bevy of other nuts-and-bolts discrepancies – but right now there’s become a more everyman casualty to this story.

According to a new report, it isn’t just millionaires and billionaires losing out on paycheques. Regular NBA employees, just like you or I, have been caught in the labour crossfire, too.

As expected when there is no on-court product (the NBA season, originally scheduled to start Nov. 1, will begin no earlier than Nov. 28 now), the league has slashed rank-and-file employees as its labour impasse continues.

*Bing: What is the average NBA salary?

By a source printed in the SportsBusiness Journal, about 200 jobs have been cut at the NBA’s headquarters and international offices across the globe.

A further 200 jobs were lost throughout the league’s 30 teams, according to the report.

At a time when it’s apparent belt-tightening is the motif of the day within the league, it’s unclear whether these jobs will be re-instated if, and when, play does resume.

Though how about another business-related basketball story to get you depressed?

Not only does Toronto Raptors star Andrea Bargnani – God, is he really our best player?  – look primed to play hoops in Rome this year, but guess who’s reportedly sponsoring his contract fee to the city’s Virtus Roma club

… AshleyMadison.com.

By Jason Buckland, MSN Money



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...