Before sharing you about NBA 2020 live stream online to watch from any smart devices you need to know below idea for today. As they face the reality of a sea of red ink playing in empty or near-empty arenas for the 2020-21 season, some NBA owners are quietly preparing to find the cash to weather the storm.
Golden State Warriors owner Joe Lacob has informed fellow owners of a deal he’s considering with Goldman Sachs to raise up to $250 million to manage coming expenses, sources told ESPN. Other owners are investigating opportunities to raise capital as well, ownership sources said, with some pursuing legal action against insurance companies that have denied coronavirus pandemic claims.
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Earlier in the summer, NBA commissioner Adam Silver told players that roughly 40% of the league’s revenues come from ticket sales and arena sponsorships as he prepared them for challenges ahead. The league and players’ union are expected to make adjustments to the current collective bargaining agreement before next season.
The Warriors are an outlier, as they derive around 80% of their revenue from Chase Center and can clear more than $5 million for some home games, according to the league and team sources. Many teams earn less than $2 million per home date, and some get less than $1 million on average. But unlike some teams, the Warriors haven’t laid off or furloughed any employees. Lacob has also already significantly invested in technology and testing methods in an attempt to safely get fans back into Chase Center sometime next season.
Getting the fresh injection of capital could help the Warriors maintain their large payroll, which is expected to be above $150 million for the next few seasons. They have four players — Stephen Curry, Klay Thompson, Andrew Wiggins and Draymond Green — each scheduled to earn more than $22 million next season. They have assured a top-five draft pick and have a $17 million trade exception available to use.
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“The Warriors have the ability to raise money that a lot of teams can’t,” one team president said. “Good for them. If our team was in that situation, we may have to trade players to deal with it.”
As they face what some expect to be tens of millions per franchise in losses next season, some teams might have to slash payroll, perhaps trading players or electing not to aggressively pursue free agents. Others might offload draft picks.
“I suspect first-round picks will be for sale in this draft,” one team executive said. “We haven’t really seen that in a decade.” The last first-round pick to be sold was in 2013 by the Denver Nuggets (the Utah Jazz selected Rudy Gobert at 27th).
The possible losses have teams looking at other ways to generate money, from the sale of assets, including real estate, or tapping credit facilities. One NBA team, the Minnesota Timberwolves, is already publicly for sale.
“I don’t know what will happen, but I may lose $50 million next season,” one owner told ESPN. “If that happens, I have three options: I could borrow the money, I could sell part of the team or I could do a cash call and I and my partners would have to write checks.”
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The Warriors’ case is creating some concerns of a deepening gulf between the have and have-not teams that could affect the league’s short-term future, multiple owners and high-ranking executives said. In different pockets of the NBA, owners are making money moves. Brooklyn Nets owner Joe Tsai recently sold about 25% of his shares of Chinese tech giant Alibaba, stock valued at $3.3 billion as of July 10. He denied rumours he was joining a group to purchase the New York Mets.
Cleveland Cavaliers owner Dan Gilbert’s Quicken Loans filed for an initial public stock offering in early July. Once the private company’s finances — it had more than $800 million in profit in 2019 — were revealed, it became clear that Gilbert might soon be regarded as one of the wealthiest owners in sports, as his net worth could balloon by tens of billions after the IPO.