NBA disputes report questioning its losses

Posted by: MBR on Wed Jul 6th, 2011 6:12 am
NBA disputes report questioning its lossesThe Associated Press NEW YORK — The NBA is disputing a report questioning its financial losses, saying the estimates used as the basis of the article “do not reflect reality.”A New York Times blog post Tuesday titled “Calling Foul on NBA’s Claims of Financial Distress” called the league “fundamentally a healthy and profitable business” with an estimated operating income of $183 million in 2009-10, making a 5 to 7 percent profit during the life of the collective bargaining agreement that expired last week.The story was based on estimates prepared by Forbes and Financial World magazines. NBA spokesman Mike Bass said the information was inaccurate, saying Forbes “does not have the financial data for our teams and the magazine’s estimates do not reflect reality.”for full storyhttp://bangordailynews.com/2011/07/05/s ... ts-losses/