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Old 06-30-2011, 07:53 PM   #1 (permalink)
thought
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Lightbulb How to Make a $7 Million Profit Look Like a $28 Million Loss

Cool look into some of the nifty accounting that goes on behind the scenes. Makes sense that players are treated as capital assets.

Quote:
We've obtained audited financial data for the New jersey Nets covering the three fiscal years from June 2003 to June 2006. Though the numbers end five years ago, you can still see the roots of the argument that will have NBA owners, come midnight, again locking out their players. You can also see how a team makes money and how it pretends not to be making any money at all.
Exclusive: How (And Why) An NBA Team Makes A $7 Million Profit Look Like A $28 Million Loss
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