The Los Angeles Lakers are more than a storied, award-winning franchise. The organization always takes care of its people, and this time they will be taking care of the low-income employees. Lakers’ employees are turning themselves into heroes.
In an effort to protect these employees from being asked to take a pay cut during the coronavirus outbreak, the Lakers will ask the team’s top brass to make a difference and help those people.
The team ownership consulted the franchise’s financial advisers. They plan to select members of its senior-level personnel to voluntarily cut 20% of their salaries. This money will be used to protect lesser-income personnel.
The NBA’s hiatus is reaching the four-week mark on Wednesday.
The NBA and the National Basketball Players Association plan to withhold up to 25% of players’ remaining salaries should regular season eventually be canceled. This information was confirmed by ESPN’s Adrian Wojnarowski and The Athletic.
Lakers’ employees are heroes
The Lakers are the second-most valuable franchise in the league. The franchise is worth an estimated $4.4 billion, according to Forbes. Jeannie Buss and her family own 66% of the franchise. The remaining portion of the franchise belongs AEG (about 27%) and Dr. Patrick Soon-Shiong (about 5%).
In March, the Lakers, the Clippers, the NHL’s Kings and Staples Center, created a $5 million fund to financially support 2,800 hourly staff employees. These people depend on income from working games and concerts at the Staples Center.
This is a big move, and the Lakers are doing a really good job. Those people need all the help they can get, and this gesture will help them survive the financial crisis. The coronavirus affected every aspect of the sports world. We need to stay united in this one.
The situation may not improve in the next few weeks. If the regular season ends here, the NBA may opt for a straight jump to the playoffs. If this is the end of the season, we will be seeing the Los Angeles Lakers and the Milwaukee Bucks in the playoffs. But, we won’t make a prediction now. Let’s wait for an official statement from the NBA and its officials. Stay safe and stay home!