NBA Shutdown: LeBron vs. NBA Executives

Stories Shaping Sports and Business: April 30th

LeBron vs. NBA Executives

Some NBA team executives want the remainder of the postponed 2020 season canceled completely, but NBA superstar LeBron James says that shouldn't happen.

According to a report by CNBC, several league executives are frustrated with the lack of information about the league’s plans to reopen training facilities and put games back on the schedule, leading some to say it would be better if the NBA canceled the season and focused on planning for next year.

According to the report, one team exec expressed concerns from owners about the additional cost of returning to action without the same rate of return on revenue.

But the league’s biggest superstar took to Twitter to refute those rumors. LeBron says it’s "absolutely not true."

Saw some reports about execs and agents wanting to cancel season??? That’s absolutely not true. Nobody I know saying anything like that. As soon as it’s safe we would like to finish our season. I’m ready and our team is ready. Nobody should be canceling anything. 👑
— LeBron James (@KingJames) April 30, 2020

The NBA was the first professional sports league in the United States to halt its season due to health concerns relating to the spread of the coronavirus.

NBA commissioner Adam Silver made the announcement to postpone the season on March 11 after several NBA players tested positive for the virus. The NHL, MLB and the NCAA all canceled or postponed their seasons shortly after the NBA’s decision.

Sports Gambling now legal in Colorado

People in Colorado will be able to legally wager on sports starting on May 1. Colorado citizens voted on legalization for sports gambling in November after the state’s legislature approved the bill last summer.

There are 33 casinos in Colorado, all of which are able to apply for the sports gaming license. Plus companies like DraftKings, FanDuel and other mobile and digital sportsbooks are allowed to offer their product in the Centennial State.

Colorado is the 21st state with an active legal sports gambling marketplace. There are more than a dozen other states with ongoing legalization laws in place. The problem is, as we know, there aren’t many sports to bet on right now since nearly every athletic event across the globe has been canceled or postponed due to the coronavirus.

Daily Coronavirus Update

There are more than 3.2 million cases of the coronavirus worldwide, with 229,000 fatalities, per data from Johns Hopkins. The U.S. has over a million cases and over 60,000 deaths. New York has over 300,000 cases and 18,000 fatalities. Looking worldwide, Spain has over 239,000 cases and 24,000 deaths. Italy has 205,000 cases and 27,000 deaths. The U.K., which has 166,000 cases has surpassed Spain in fatalities. The U.K. now has 26,000 deaths.

Switching back to the U.S., the U.S. Department of Labor released jobless claims early this morning. Claims totaled 3.8 million, which was higher than experts' expectations for 3.5 million. This means that more than 30 million people have filed for unemployment. There could be even higher unemployment since some states are still struggling to process the high volumes from calling in. Wall Street will get the jobs report next week, which is expected to have unemployment in the double-digits.

TheStreet's Katherine Ross contributed to this report.