76ers and Devils owners cut employee pay amid coronavirus fallout
Harris Blitzer Sports & Entertainment, the sports and entertainment group that owns the Philadelphia 76ers and New Jersey Devils, has notified full-time employees making $50,000 or more that they will be subject to pay cuts starting as soon as next month due to the coronavirus fallout.
The response: Not great, as you might expect. Ownership considers this a "temporary measure aimed at avoiding layoffs," per NYT's Marc Stein, but fans aren't buying it.
- What they're saying: Just search "Josh Harris" (net worth: $3.8 billion) or "David Blitzer" (net worth: $1.3 billion) on Twitter and you'll find out pretty quickly how most Americans feel about billionaires cutting pay to avoid incurring losses that they could presumably withstand.
The harsh reality: As the sports world navigates the evolving coronavirus landscape, more ownership groups will likely enact similar measures.