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|NBA Disputes Report Questioning Its Losses
|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 last collective bargaining agreement.
The story was based on estimates prepared by Forbes and Financial World magazines. NBA spokesman Mike Bass calls the Forbes data inaccurate, saying financials given to the players' association "demonstrate the substantial and indisputable losses the league has incurred over the past several years."
(Copyright 2011 by The Associated Press. All Rights Reserved.)