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San Antonio Spurs reportedly lost money in 2016-17 NBA season
By Rob Wolkenbrod
The San Antonio Spurs, after revenue share, lost money in the 2016-17 NBA season. This included nine other teams.
Zach Lowe and Brian Windhorst of ESPN reported something on Tuesday that concerns small-market teams like the San Antonio Spurs. 14 NBA teams lost money in the 2016-17 season before revenue-payments, while nine still lost money after this was factored in. The Spurs were among those that finished in the red.
It was noted the rising salary cap caused struggles for small-market teams. Those organizations want the ones that profit more to share more of their revenue. The Memphis Grizzlies were one of the hardest-hit teams, as they lost $40 million. As a result, the organization received $32 million in revenue share.
The following nine teams lost money:
- Milwaukee Bucks
- Cleveland Cavaliers
- Atlanta Hawks
- Memphis Grizzlies
- Orlando Magic
- Brooklyn Nets
- Detroit Pistons
- San Antonio Spurs
- Washington Wizards
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Lowe and Windhorst had a graphic of the two highest and lowest in revenue sharing for the 2016-17 season. The Golden State Warriors were up $91.9 million and the Los Angeles Lakers produced $115.4 million. The Brooklyn Nets were $44.3 million in the red, while the Detroit Pistons were below by $45.1 million.
As for the Spurs, they were one of the teams that paid into the revenue sharing. They and the Oklahoma City Thunder paid into it for six consecutive seasons, due to “overperforms expectations based on market size and past data.” However, it wasn’t mentioned how much money San Antonio lost.
At least the big teams still make money. The biggest soccer teams in the world sometimes have no margins or lose money. Gotta be smart w/cap
— grayson___adrian (@grayson_adrian) September 19, 2017
The profits of the 30 NBA teams are clearly vast from both ends of the spectrum. The major markets are winning (Chicago, Los Angeles, New York), while the others are slumping (includes the Cavaliers, who made the past three NBA Finals).
Must Read: 25 forgotten players that were on the Spurs
This situation will be discussed at Board of Governors meeting on Sep. 27-28 in New York. Will there be progress made or a resolution for teams like the Spurs?