All is gloom and doom around the NBA this morning with reports that training camps and preseason games will be postponed as the lockout continues.
NBA owners have maintained throughout the negotiations that the league’s financial model is broken. Players, they insist, receive too much of the money generated by the league.
Here’s a little fact that I find interesting after scanning the Forbes 400 of the wealthiest Americans. are NBA owners.
The NBA is represented on the list by the following owners:
No. Owner Team Net worth Source
23. Paul Allen Portland $13.2 B Microsoft, investments
60. Rich Devos Orlando $5 B Amway
75. Micky Arison Miami $4.2 B Carnival Cruises
107. Stanley Kronke Denver $3.2 B Sports, investments
159. Tom Gores Detroit $2.5 B Private equity
171. Mark Cuban Dallas $2.3 B Online media
242. Glen Taylor Minnesota $1.8 B Printing
273. Herbert Simon Indiana $1.6 B Real estate
293. Daniel Gilbert Cleveland $1.5 B Quicken Loans
293. Michael Heisley Memphis $1.5 B Manufacturing
293. Donald Sterling L.A. Clippers $1.5 B Real estate
309. Joshua Harris Philadelphia $1.45 B Leveraged buyouts
Anybody else wonder why these elite businessmen want to get into the NBA if the business is so bad?