The National Basketball Association is reducing the salaries of its top executives by 20 per cent, according to ESPN, marking the latest sports industry personnel impact of the ongoing Covid-19 pandemic.
About 100 of the league’s top executives, including commissioner Adam Silver and deputy commissioner Mark Tatum, will be subject to the pay cuts, according to the report.
The cuts are being implemented immediately, and will last for the duration of the public health crisis.
The league did not confirm the report, but league spokesman Mike Bass did say to ESPN, “These are unprecedented times and, like other companies across all industries, we need to take short-term steps to deal with the harsh economic impact on our business and organization.”
The NBA was the first major US sports league to suspend its games in the wake of the pandemic.
The league’s move is just the latest in a growing series of similar cuts, either in pay or workforce, due to the ongoing industry hiatus.
In a similar move, PGA Tour commissioner Jay Monahan has decided to indefinitely forgo his salary during the ongoing health crisis. Elsewhere, senior Tour executives have agreed to take to salary cuts, while wages for all other Tour employees will be frozen at 2019 levels.
Harris Blitzer Sports & Entertainment, the managing company of the NBA’s Philadelphia 76ers and National Hockey League’s New Jersey Devils, announced temporary pay cuts before pulling the initiative within 24 hours amid a major public backlash.