Layoffs in the sports world are not reserved to media outlets.
On Thursday, the NBA laid off “dozens” of employees, according to a report by Tom Friend of the Sports Business Journal.
A final number of layoffs has not been reported, but Friend wrote that the cuts affected both long and short-term employees. The layoffs reportedly did not come from areas of the league focused on revenue generation.
“We are reallocating resources to our priority business areas, including digital and international growth, and that has resulted in the elimination of a number of positions at the league office,” NBA Chief Communications Officer Mike Bass told Sports Business Journal.
The NBA laid off dozens of its employees at the league office today.
Sources said the layoffs were from departments not focused on revenue generation.
Read more from @TomFriendWriter ⬇️
— Sports Business Journal (@SBJ) July 27, 2023
After two years of losses due to the COVID-19 pandemic, the NBA recovered to generate over $10 billion in revenue during the 2021-22 season, per reports.
“The numbers surprised me to some degree because they exceeded our projections,” NBA commissioner Adam Silver said at the time. “So to the extent that our projections represent where we think our business was going, exceeding $ 10 billion in revenue is clearly a I think it’s pretty extraordinary considering where we came from, where we were only two and a half years ago.”
It was the first time the league topped $10 billion in revenue after reaching its previous high of $8.76 billion during the 2018-19 campaign.
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