By Johnny Askounis/ info@eurohoops.net
The NBA revenue for the 2021-22 season went over $10 billion and basketball-related income reached $8.9 billion, the league recently announced. Both amounts are all-time records.
“The numbers did surprise me to a certain degree because it exceeded projections, and the projections represent where we think our business is going,” NBA commissioner Adam Silver told the Associated Press (AP), “I think it’s quite remarkable from where we came 2 1/2 years ago.”
Silver, 60, noted the massive numbers came to fruition despite the league still dealing with the pandemic. In October 2021, he had set the goal by projecting sales of $10 billion. But actually going over the mark was unlikely, especially considering the difficult challenges. Not too long ago, the major sports leagues based in North America and other leagues all around the world were slated as questionable to survive the impact of COVID-19, but the NBA thrived in adversity.
The most recent collective bargaining agreement (CBA) runs through the 2023-24 season with both NBA and NBPA holding opt-out options after the 2022-23 season. The record-breaking revenue backed by the income from merchandise sales, sponsors, tickets, marketing, TV deals, and more, will create room for even bigger annual salaries for the players and thus widen the enormous financial gap separating what the NBA teams can offer compared to European clubs. The exact distance depends on the next deal between the involved parties.
According to Statista, the Los Angeles Lakers ranked first in the list of teams generating the highest revenue in 2021 with an estimated amount of $316 million, relays Sports Garh.