Like many other organizations across the world, the NBA is exploring ways to stay afloat while business is effectively shut down due to the coronavirus pandemic. One of the chante the league has decided to implement is reducing the salaries of some of its highest-earning executives.
The NBA will temporarily reduce the base salaries of approximately 100 top executives by 20 percent, ESPN’s Adrian Wojnarowski reports. Commissioner Adam Silver is among those who will take a pay cut.
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
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
The news comes after the Philadelphia 76ers explored the idea of reducing the salaries of employees who make $50,000 or more per year, but the plan was nixed after the team faced tremendous backlash. Sixers owner Josh Harris then issued an apology.
We could see similar changes for other sports leagues, as there is still uncertainty over when play will resume. There’s no guarantee at the moment that the NBA will be able to finish its regular season, though there is optimism it could resume by June.
