NBA execs take pay cuts amid season shutdown
MANILA, Philippines — Members of the NBA's top brass will be taking pay cuts with the season suspension due to the novel coronavirus (COVID-19) pandemic.
Per Adrian Wojnarowski of ESPN, about 100 top officials of the NBA will be reducing their base salaries by 20% to ease the blow of the pandemic.
The NBA is reducing base salaries by 20 percent of approximately 100 of the league office’s top-earning executives around the world, sources tell ESPN.
— Adrian Wojnarowski (@wojespn) March 26, 2020
Play in the NBA has been suspended indefinitely since March 11 (March 12, Manila time).
Among the executives to take the pay cuts are NBA commissioner Adam Silver and deputy commissioner Mark Tatum.
When reached, NBA spokesman Mike Bass wouldn’t confirm, but told ESPN: “These are unprecedented times and, like other companies across all industries, we need to take short-term steps to deal with the harsh economic impact on our business and organization.” https://t.co/xLclePHF5L
— Adrian Wojnarowski (@wojespn) March 26, 2020
"These are unprecedented times and, like other companies across all industries, we need to take short-term steps to deal with the harsh economic impact on our business and organization," NBA spokesman Mike Bass told Wojnarowski.
There will reportedly be no widespread cuts to the rest of the organization and no support or administrative staff will be affected.
This salary reduction includes commissioner Adam Silver and deputy commissioner Mark Tatum, sources said. There are no widespread cuts to the rest of organization; no support or administrative staff are impacted. Top executives and senior leaders are first to takes these cuts now
— Adrian Wojnarowski (@wojespn) March 26, 2020
"Top executives and senior leaders are first to take these cuts now," Wojnarowski wrote.
It was also reported earlier this week that NBA player salaries would also be in uncertain territory due to the coronavirus.
Some NBA stars have already begun initatives in supporting arena staff and game-day personnel who are already feeling the brunt of the season stoppage.
Players like Kevin Love and Zion Williamson initiated efforts to give financial assistance to employees paid on a play date basis.
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