The NBA is reportedly slashing the salaries of top-earning executives in the League office by 20% as its hiatus stretches on.
The pay cut, in response to the devastating financial impact of the coronavirus global pandemic, is said to include commissioner Adam Silver.
The NBA recently extended its credit limit to $1.2 billion.
Per ESPN:
Many of the executives and officials impacted work in the league’s New York headquarters, including commissioner Adam Silver and deputy commissioner Mark Tatum, sources said.
These reductions will be implemented immediately and are expected to continue through the course of the coronavirus crisis, sources said.
NBA spokesman Mike Bass wouldn’t confirm ESPN’s reporting on the story, but said: “These are unprecedented times and, like other companies across all industries, we need to take short-term steps to deal with the harsh economic impact on our business and organization.”
There are no widespread cuts to the rest of the organization, and no support or administrative staff are impacted, sources told ESPN.
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