• Loading stock data...
Tuesday, December 10, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

Silver: China Blackout Cost NBA ‘Hundreds of Millions’

  • NBA commissioner Adam Silver said the blackout by China’s CCTV cost it “hundreds of millions.”
  • CCTV resumed NBA broadcasts in March.
Adam-Silver-NBA
Danny La-USA TODAY Sports

A single tweet led to the NBA losing “hundreds of millions of dollars,” according to league commissioner Adam Silver.

The league was blacked out on China’s CCTV for 18 months following an October 2019 tweet in support of Hong Kong protestors by Daryl Morey, then the general manager of the Houston Rockets. Morey is now president of the Philadelphia 76ers. 

  • The NBA’s China business is worth around $5 billion.
  • NBA owners have more than $10 billion invested in Chinese businesses, led by Brooklyn Nets owner Joseph Tsai.
  • CCTV resumed broadcasting the NBA in March. 

“Others since then have spoken out about their views around China and other places in the world, and if the consequences are that we’re taken off the air or we lose money, we accept that,” Silver said.

Credit Where It’s Due

On Friday, ratings agency Fitch gave three senior-secured funding notes released by NBA affiliate Hardwood Funding an A- rating. The notes total $417 million.

Fitch cited “the NBA’s stable financial position supported by the strength of the league’s broadcast contracts and the underlying core economic model of the NBA.” 

The ratings agency noted the league’s “moderate levels of revenue sharing” and “soft salary cap,” which it said promotes competitive balance.

“The league’s solid viewership and attendance trends coupled with robust international growth indicate a strengthening position among professional sports leagues,” Fitch wrote.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NBA Cup TV Ratings Down 10% Through Group Play

The NBA has faced stiff competition from other sports.
Dec 7, 2024; Washington, District of Columbia, USA; Washington Wizards guard Jordan Poole (13) reacts after the final horn against the Denver Nuggets at Capital One Arena.

Capitals, Wizards Owner Monumental Aims to Drive ‘Downtown D.C.’s Comeback’

Monumental Sports, which owns the Wizards, is ready to anchor a D.C. comeback.

As Wizards Hit Historic Low, Leonsis Calls Season ‘Very Productive’

They’re on pace for one of the worst records in NBA history.
Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.

Featured Today

Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
November 30, 2024

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?

Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together

The move brings On Location, Professional Bull Riders, and IMG under TKO.
Sep 11, 2024; Los Angeles, California, USA; The Nike shoes worn by Seattle Storm center Mercedes Russell in the first half against the LA Sparks at Crypto.com Arena.
opinion
September 28, 2024

New Nike CEO Must Do It

The biggest task the new CEO faces is intangible: Refresh the brand.
October 1, 2024

Nike CFO Says ‘Adversity Creates Sharper Focus’

Amid a downbeat but expected set of earnings, Nike says it sees signs of optimism.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
A Nike swoosh on a building in Eugene, Oregon.
September 23, 2024

Wall Street: Things Will Get Worse for Nike Before They Get Better

Some analysts are skeptical of how much the new CEO will change.
Crypto.com soccer advertising
September 15, 2024

The Champions League Is Back. So Is Crypto Sponsorship

Crypto investment is making its debut in the biggest European soccer competition.
Sep 9, 2024; Santa Clara, California, USA; San Francisco 49ers wide receiver Deebo Samuel (1) warms up before a game against the New York Jets at Levi's Stadium.
September 12, 2024

The NFL’s Private Equity Era Won’t Be the Bloodbath You Think—for Now

“It’s a different kind of investment thesis entirely.”
ESPN commentator Jay Williams speaking at a conference.
September 11, 2024

Jay Williams Supports PE in College Sports: ‘I Would Like to Own 49% of Duke Basketball’

Williams wants in when PE gets into college sports.