NBA Announces All Teams Will Receive $30 Million Cash

NBA teams have asked and the league has delivered, after it's been announced on Monday the league will be sending all teams, $30 million in cash to help with pandemic relief.

#BREAKING: The @NBA will give $30 million in cash to each of its 30 teams this month to help protect their finances ahead of the 2020-21 season (@sbjlombardo).

Free to read: https://t.co/8KTiEiZeOU pic.twitter.com/oGTLoIZszI
— Sports Business Journal (@sbjsbd) December 7, 2020

The financial relief is of course in response to the huge impact the pandemic has taken on the league. The NBA without fans in the stands is going to lose hundreds of millions league wide. The cash being shipped out to teams stems from private-market money the NBA has made with some of their investments.

As per Josh Weinstein of The Score:

Nearly 40% of the NBA's revenue is earned through ticket sales, so the league should expect significant losses given numerous teams have already announced they'll begin the 2020-21 season without fans in attendance.

The NBA helped mitigate its financial shortcomings from last year's midseason stoppage by forming a bubble at Orlando's Walt Disney World resort to close out the campaign. The move reportedly salvaged $1.5 billion in potential losses.