NEW YORK (AP) — 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."
"Precisely to avoid this issue, the NBA and its teams shared their complete league and team audited financials as well as our state and federal tax returns with the players union," Bass said. "Those financials demonstrate the substantial and indisputable losses the league has incurred over the past several years."
The league has projected losses of $300 million last season after losses of several hundred million dollars in each season of the CBA, which was ratified in 2005. Owners locked out the players last week after they could not agree on a new deal.