NBA Commissioner Adam Silver and other top executives in the American basketball league have cut their salaries by 20 percent, a measure designed to reduce the economic impact of the coronavirus pandemic.
03/27/2020 at 11:57
“These are unprecedented times and, like other companies in all industries, we need to take short-term action to deal with the harsh economic impact on our business, “NBA spokesman Mike Bass said in a statement.
The NBA is not the only competition that has reduced the salaries of its managers. Also in the United States, automotive NASCAR and the ice hockey NHL have also cut their leadership salaries by 25 percent. For his part, PGA Tour Golf Commissioner Jay Monahan chose to give up his salary entirely.
This news comes a day after the Philadelphia Sixers’ property nearly forced employees “at will” with wages above $ 50,000 to undergo a 20 percent pay cut.
There have been no layoffs in the NBA yet and only top executives and top managers have seen pay cuts, according to ESPN. The league also recently extended its credit limit from $ 650 million to $ 1.2 billion.