NBA Pleads Poverty

The NBA is pleading poverty. http://sports.espn.go.com/nba/news/story?id=4912384
Supposedly the NBA is losing 400 million dollars a year. If you believe that I have a bridge to sell you.

Supposedly the league has been losing money for years too even though this was never mentioned until yesterday.

In fact less then 4 months ago the same David Stern said there would be a “MINOR drop” in league revenue.
http://www.washingtonwizardsbasketball.com/article/Stern%20expects%20minor%20drop%20in%20league%20revenue/?k=j83s12y12h94s27k02

How can they be losing all this money if NBA attendance is strong. http://www.hoopsnotes.com/2010/01/nba-attendance-is-better-than-projected/

TV ratings are up.
http://probasketballtalk.nbcsports.com/2010/02/nba-television-ratings-up-highlights-haveshave-nots.php

How can they be losing all this money if they have TV contracts locked up till 2016 and the extension (signed in 2007) was more then 20% higher then the previous contract. The NBA receives $930 million per year. I don’t remember the players getting 20% increase in 2007.
http://www.usatoday.com/sports/basketball/2007-06-27-3096131424_x.htm

Another wards the NBA owners (like the NFL owners) are full of sh*t. The result will be no football or basketball in 2011.

Greed wins every time.