LA Clippers Race Scandal Can Hurt All NBA Teams In Lost Revenue

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LA Clippers Race Scandal Can Hurt All NBA Teams In Lost Revenue

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LA Clippers Race Scandal Can Hurt All NBA Teams In Lost Revenue

by Wochit 1:00 mins

LA Clippers Race Scandal Can Hurt All NBA Teams In Lost Revenue

by Wochit 1:00 mins

Los Angeles Clippers owner Donald Sterling was banned for life and fined $2.5 million on Tuesday for racial remarks, but the whole National Basketball Association could take an economic hit from pulled advertising because of the league's revenue-sharing system. Each of the league's 30 teams contributes an equal percentage of its own franchise sponsorship revenue into the revenue-sharing system, which then evenly distributes the accumulated league-wide revenue pool back to the franchises. So far, major consumer companies like Mercedes-Benz, CarMax, and Virgin America have terminated their Clippers sponsorships, and others including State Farm, Kia Motors, and Sprint have suspended advertising following remarks attributed to Sterling in recordings posted online.

Wochit

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