Tuesday, November 1, 2011

NBA Lockout: For Some Cities, Enough is Enough.

Everyone knows that tonight was supposed to be one of the most historic in Dallas Mavericks history, the opening game against the Chicago Bulls, and the raising of the banner as 2011 NBA Champions. Unfortunately, as the lockout continues and only furthers our hopes for a new season, it seems that the greedy just get greedier. Fortunately for the city of Dallas, a large amount of revenue has not been lost because of our other major professional sports teams bringing in money, but for Memphis, Oklahoma City, Orlando, Portland, Sacramento, San Antonio, and Utah, there is much to lose with basketball being their own professional sport. Although demand for a season is clearly at an all-time high, revenue is being lost daily from the lockout. Data gathered states that San Antonio spurs have a $95 million impact on the economy, as well as the Memphis Grizzlies with a $223 million on their economy. Along with revenue loss, their is a high job loss as well. Even worse, four out of the seven NBA franchise-only cities have an unemployment rate above the national average. Although most NBA related jobs are part-time, many are lost, for example in Memphis about 1,500 jobs will be lost this season.. For Orlando, the site of the 2012 All Star Game, it's much more than just the loss from the season. We all remember how much money Dallas made when we held the All Star game here, and Orlando is predicted to lose as much as $80 million - $100 million in economic impact. Needless to say, we are all ready for some basketball, and need the owners to work things out for the sake of the game, not for money.
http://www.theatlanticcities.com/jobs-and-economy/2011/10/7-cities-most-lose-nba-lockout/371/

2 comments:

longhornfan210 said...

For being a basketball fanatic I really enjoyed your post Megan. People do not realize what the NBA lockout is doing to multiple cities and even our country's economy. Too much money is being lost over a deal that can be settled and should be settled with ease. The players and owners need to open their eyes and truly see that this is much more than just about them. Hopefully a deal will be made REALLY soon, but if not soon then there is most likely not going to be a season which would result in more disastrous problems.

-Michael Murph

JonathanW said...

I could not agree more with your post Megan. Not only are the owners being greedy but the players as well. Both sides are too stubborn to compromise in the middle and many small market economies such as Memphis will endure a negative impact in their economy without the Grizzlies playing. Hopefully both sides will come to an agreement soon before the season is over.

-Jonathan Wells