NBA Commissioner David Stern says less than half of teams in the NBA are profitable.
http://www.azcentral.com/arizonarepu...nnbamoney.html
The NBA Players Association does have an audit method in the CBA to verify the veracity of the claim.
As well, as with all pro sports teams, many owners don't mind operating at a cash flow negative so long as the underlying capital is appreciating.
If I'm not mistaken, the NBA has a CBA negotiation coming up so cries of poverty from owners would be pretty well standard right about now. I would think owners would want a hard cap like the NHL.
Cowperson