Nov 15, 2011, 12:16 PM EDT
Tuesday — November 15 — would have been the first day that NBA players had gotten paychecks if there were an NBA season. It’s not a huge shock we got this far. Some owners wanted the players to feel the pain of missed money, thinking the players would cave when it happened. (The players response on Monday was to push back the hardest way they knew how.)
But the owners are going to feel a financial pinch, too.
MillerCoors, which spends heavily on sports advertising and has sponsorship deals with many NBA teams, including the Milwaukee Bucks, disclosed Monday that it had been withholding payments to its NBA partners.
Peter Marino, a MillerCoors spokesman, said the payments will be made in full upon resolution of the bitter dispute….
In addition to MillerCoors, BMO Harris Bank has a sponsorship arrangement with the Bucks. A spokesman said the bank had not suspended payments to the Bucks.
You can bet it’s not just the Bucks — a lot of owners are feeling the pinch. And when MillerCoors and others said they will pay in full, what they are really saying is “paying our prorated share.”
The thing is, those teams and owners can hold out without the cash flow a lot longer than the players. They are feeling some pain, but a lot less of it than the players the longer this drags on.
- Reports: Paul Pierce agrees to three-year, $10 million contract with Los Angeles Clippers 13
- Report: LaMarcus Aldridge rules out Lakers in free agent decision 94
- Reports: Phoenix Suns sign Tyson Chandler, re-sign Brandon Knight, try to reshape roster 10
- Kevin Love will return to Cavaliers, contract is reportedly $110 million over five years 77
- Report: Spurs reach deal to trade Tiago Splitter to Hawks, create cap space for LaMarcus Aldridge offer 27
- Report: Heat, Goran Dragic agree to five-year deal worth $90 million 46
- Report: Paul Millsap had midnight meeting with Orlando, will decide between Magic and Hawks 17
- Report: Blazers, Damian Lillard nearing agreement on five-year max contract extension worth $120 million 17