The NBA's revenue dropped 10% to $8.3 billion for the 2019-20 season amid losses because of the coronavirus pandemic, according to financial numbers shared with teams and obtained by ESPN.
The balance of the finances included an $800 million loss in gate receipts and a $400 million loss in sponsorships and merchandise, sources said.
The NBA's losses included $200 million in deemed "net negative impact" from a monthslong splintering of a partnership with China in the aftermath of the Daryl Morey tweet promoting Hong Kong freedom a year ago, sources said.
Source: Adrian Wojnarowski and Zach Lowe of ESPN
ANALYSIS: Between the aftermath of Daryl Morey's tweet about China and COVID-19 interrupting the 2019-20 season, the NBA's revenue took a big dip compared to last year. This is a major reason why the league is in such a rush to start the 2020-21 season. The NBA cannot continue to lose revenue like this and the sooner the season starts the better chance the league has at meeting its profit goals for next year.