NBA to lay off about 80 amid economic slowdown, Stern says

[cboy4]

Updated: October 13, 2008, 7:55 AM ET

LONDON -- The NBA is laying off 9 percent of its work force over worries about the U.S. economy, commissioner David Stern said.

"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 said Sunday, speaking before an NBA preseason game at London's O2 arena.

This translates into about 80 jobs, he later told Reuters.

"There is a season-ticket renewal rate decline, and new sales are also being hit," he said. "My guess is when kicks off, we will be down modestly in season ticket sales."

http://sports.espn.go.com/nba/news/story?id=3640507

Joyce: Worst is yet to come for sports

By Gare Joyce
Special to ESPN.com

You've probably seen curious things in recent days. Despairing traders with their heads in their hands on the floor of the New York Stock Exchange. Charter members of the Wall Street elite carrying their belongings in boxes as they walk out the doors of what used to be investment banks. House leaders strategizing across the aisle in an attempt to marshal the rank and file into action.

All very strange.

But none of that is more curious than the scene at Old Trafford a couple of Saturdays ago. As Manchester United, possibly the world's most valuable sports franchise and arguably the most famous one worldwide, took to its hallowed pitch, its home red shirts (an appropriate color, as it turns out) were emblazoned across the chests with the logo of American International Group, previously the largest insurance company in the U.S. and now a ward of the state. At the time of its collapse and public rescue, AIG was just midway through a four-year sponsorship deal with Man U that will pay the club upward of $100 million. Not that U.S. taxpayers' money is really going offshore, mind you, since Man U's owner is Malcolm Glazer, a Rochester-born businessman who also happens to own the Tampa Bay Buccaneers.

For the record, Man U declined ESPN.com's requests for an interview with Glazer and also declined to take any questions about its sponsorship.

"The Club is not commenting on AIG, other than to say that relations continue as they always have. It is business as usual, " director of communications Philip Townsend wrote in an e-mail, with the casual calm that comes with the knowledge that the last check has cleared.

"Business as usual" was also the line out of AIG.

"Nothing has changed," Joe Norton, an AIG spokesman says.

Yup, the government has stepped in to keep AIG afloat, and the FBI is rooting around the offices of the insurer and other financial institutions that melted down in September, but nothing has changed. Just like it was "business as usual" and "nothing has changed" at Enron Field in Houston when Ken Lay and associates were perp-walked back in 2004.

AIG's continued presence on the front of Man U's shirts, when its own continued existence was still an open question, is just one of the weird scenes in the gold mine that used to be pro sports. You don't have to cross the ocean to find a disgraced Wall Street outfit intersecting with sports. Just look around. They're everywhere.

http://sports.espn.go.com/espn/print?id=3622898&type=story


How valuable is that prized sponsorship logo
in the middle of Man U's sweaters now?

[marmar]

1. Wow.....You know things are bollocksed up when it affects pro sports.....

:scared:

[Coventina]

2. They could try selling tickets at reasonable prices

Just a thought!

As I posted in the LBN thread, I paid less than $200 for my seaon symphony package, and that's supposed to be an "elite" activity.

I thought sports was supposed to be for us working class folks. But what working folks can affort those prices anymore?

The world is upside down...

[cboy4]

6. Oooops, I meant to post this in the sports forum

Sorry for the dupe. :blush:


And sure, the NBA and other leagues are going to start selling tickets 'at reasonable prices' HA!

[RollWithIt]

3. Interesting, I know the Cleveland Cavaliers are actually expanding their workforce...

They're now one of the biggest employers in Cleveland. But they do have Dan Gilbert as an owner (Quicken Loans owner) who was one of the few people to NOT get involved in the subprime mess.

[rucky]

5. LeBron

Made the Cavs watchable again.

[RUMMYisFROSTED]

8. LeBron go bye-bye.

Bookmark it.

[RollWithIt]

9. Won't ever happen....

Lebron grew up 30 minutes down the road. He'll never leave the Cleveland Cavaliers. He's an Ohio guy. He's already built a 10 million dollar home for himself. All of his friends and advisors are from Ohio. He has said repeatedly that he loves playing in his hometown. Not to mention that the Cavaliers can actually pay him MORE than anyone else when his contract opens up. And if you look at the Cavaliers contracts, in 2010 when the contract comes up the Cavaliers will have enough cap space to not just sign Lebron, they'll have enough to sign ANOTHER star too. It's all a bunch of crap, Lebron isn't going anywhere.

[RUMMYisFROSTED]

11. -->

But his fondness for New York has helped prompt speculation he will leave Cleveland for the New York Knicks or the New Jersey Nets, who are partly owned by his good friend, rap mogul Jay-Z.

http://seattletimes.nwsource.com/html/sonics/2008204387_nba26.html

:D

[rucky]

4. They'd rather have layoffs and empty seats

than simply lowering their ticket prices?

[cboy4]

7. The NBA teams that perform well are going to do just fine

at the box office.

That's my prediction. L.A., Boston, Detroit, San Antonio, etc., are going to succeed, in my view.

It's the non-sinning/competitive franchises that will take a hit.

However, since those teams are locked into some rather frightening payrolls, I doubt there's any talk of lowering the prices of anything .. even if on the surface, that would make some business sense.

[Forkboy]

10. They should start with the Knicks.

:hide:

[cboy4]

12. Lay off the Knicks?

HA.

[erpowers]

13. Layoff Some of the Players

I think Woody Paige made a good point on the show "Around the Horn". Paige suggested instead of laying off a few works from teams the NBA could get rid of one roster spot for each team. Paige's argument was that team did not need all the players they have so they could just get rid of one play from each team. Paige pointed out that the team would save about $14 million (I thought Paige was saying $14 million each team). I think Paige has the right idea. It seems this move would not only save team money, but also possibily create more parity between the teams, or increase the level of talent in the league in that really talentless players would most likely be dropped from teams.