The four-month struggle between NBA owners and the players association over how to properly split $4 billion in revenue and reconfigure a broken system has finally claimed regular season games.Owners are losing money. Soon, players will too.
But what about the local bar owner? Or the college senior ushering part-time to pay off school tuition?
“I’m worried that my money situation is going to change – a lot,” Zuly Molina, a waitress near the Miami Heat arena, told the AP.
“I don’t want to say we live and die by the Cavaliers, but it’s a better scenario for us to have the Cavs here,” Patrick McGinty, co-owner of The Clevelander told the Huffington Post. “We’re getting hurt by it, and you know [the players and owners] have all the money in the world.”
The cancelation of the season’s first two weeks – and, most likely, many more – has a considerable economic impact on local businesses and employment.
Consider some of these figures:
- A 2010 Indianapolis study found that the Pacers contribute $55 million a year to the city and 900 jobs.
- In Salt Lake City, a local Marriott hotel estimates games bring in up to $10,000 in additional revenue. The hotel has already taken 40 cancellations for the night of Nov. 2, a home game against the Memphis Grizzlies.
- Boston’s “The Greatest Bar” expects to lose $14,000 in sales for every missed Celtics home game.
- Even an exhibition game, between the Lakers and Hawks, will cost local businesses and restaurants in Ontario, California, over $1 million.
The economic ramifications of David Stern cancelling the season’s first 100 games are widespread.
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