Rockets general manager Daryl Morey’s tweet supporting Hong Kong protesters, who are trying to maintain and expand their freedoms, has cost the NBA and its players a lot of money in China.
Probably no team has been harder hit than Houston.
Early estimates pegged the Rockets’ potential lost revenue at $25 million. It apparently hasn’t been quite that bad yet, but it’s already close. And the effects are trickling down to Houston star James Harden.
League sources say the franchise has lost more than $7 million in revenue this season from cancelled Chinese sponsorship agreements and nearly $20 million overall when terminated multiyear deals are calculated.
For their superstar James Harden, the losses could be considerable if no resolution is reached. A source says Harden’s endorsement agreement with Shanghai’s SPD Bank Credit Card is imperiled.
This is why NBA teams are preparing for a lower-than-projected salary cap. It’s also why the union is planning to better educate its players on global issues.
The money involved is significant.