NBA being sued for missed rent payments amid coronavirus shutdown

 
Post new topic    LakersGround.net Forum Index -> General Basketball Discussion Reply to topic
View previous topic :: View next topic  
Author Message
Basketball Fan
Franchise Player
Franchise Player


Joined: 03 Feb 2004
Posts: 23516

PostPosted: Wed May 27, 2020 5:03 pm    Post subject: NBA being sued for missed rent payments amid coronavirus shutdown

https://nba.nbcsports.com/2020/05/27/nba-being-sued-for-missed-rent-payments-amid-coronavirus-shutdown/

Quote:
NBA being sued for missed rent payments amid coronavirus shutdown


The NBA has been sued by the owners of the building that houses the NBA Store, who say the league owes more than $1.2 million after not paying rent in April or May.

The league responded by saying it doesn’t believe the suit has merit, because it was forced to close the New York store due to the coronavirus pandemic.

NBA Media Ventures, LLC is required to pay $625,000 of its $7.5 million annual fee on the first day of each month under teams of its lease with 535-545 FEE LLC, according to the suit filed Tuesday in New York.

The NBA entered into the lease agreement for the property at 545 Fifth Ave. in November 2014.

Counting other fees such as water, the owners of the building are seeking more than $1.25 million.

“Like other retail stores on Fifth Avenue in New York City, the NBA Store was required to close as a result of the coronavirus pandemic. Under those circumstances, we don’t believe these claims have any merit,” NBA spokesman Mike Bass said. “We have attempted, and will continue to attempt, to work directly with our landlord to resolve this matter in a manner that is fair to all parties.”

The NBA suspended play on March 11 because of the coronavirus pandemic and faces hundreds of millions of dollars in losses this season, even as it works toward trying to resume play in July.
Back to top
View user's profile Send private message Reply with quote
Display posts from previous:   
Post new topic    LakersGround.net Forum Index -> General Basketball Discussion All times are GMT - 8 Hours
Page 1 of 1
Jump to:  

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum






Graphics by uberzev
© 1995-2018 LakersGround.net. All Rights Reserved. Privacy Policy. Terms of Use.
LakersGround is an unofficial news source serving the fan community since 1995.
We are in no way associated with the Los Angeles Lakers or the National Basketball Association.


Powered by phpBB