By Rick Horrow and Karla Swatek
November 9, 2012
NBA licensing revenue for the league’s 2012 fiscal year was up over the previous season despite a lockout and 16 fewer games per team. League executives, who expected revenue to fall 25%, attributed the growth to the Jeremy Lin phenomenon and improved play of big market teams.
As for one small market team, things aren’t as good. Several pieces of black tarp fell from the Sleep Train Arena rafters during a Sacramento Kings game last week, the latest in a series of embarrassing moments for the team.
The last couple years have been a comedy of errors for the Kings, who have publicly feuded with the city over a new arena and lost an arena naming rights deal when Power Balance went bankrupt. While the tarp incident clearly wasn’t intentional, it’s almost as if the team no longer cares about a future in Sacramento. Kings ownership recently met with the Virginia governor about relocating to Virginia Beach, and an investor plans to build a new arena in Seattle.