CFO of BSE Global, parent of Brooklyn Nets and Barclays Center, leaves. Was it a budget issue, or something more?
From Variety, a 4/23/20 exclusive, Brooklyn Nets Parent Company Loses Chief Financial Officer Eu-Gene Sung:
The scoop was by Scott Soshnick, formerly of Bloomberg, and is now editor-in-chief of Sportico, Penske Media’s new sports business platform, which won't launch until the summer.
For Sportico, that's not the best timing, in terms of advertiser revenue, but there are lots of things to write about in sports business. But that's why the article appeared in Variety, a Penske publication focused on entertainment, which is part of the Barclays Center's lineup, of course.
Only speculation
Until more information surfaces, the most immediate rationale for Sung's departure is that this is a budget issue, since arena revenues are obviously not covering expenses, and were already challenged before the coronavirus crisis.
But who knows--arena/team CEO, David Levy, came and went quickly, which suggests potentially some tensions with owner Joe Tsai.
The parent company of the Brooklyn Nets is losing its chief financial officer, who is one of the highest-ranking female team executives in the National Basketball Association, according to people familiar with the matter.Sung was at BSE since 2017. Without a new announced job, that suggests she was pushed.
Eu-Gene Sung will soon be leaving BSE Global, sources, who were granted anonymity because the move hasn’t been announced yet, told Sportico. Her destination isn’t known.
The scoop was by Scott Soshnick, formerly of Bloomberg, and is now editor-in-chief of Sportico, Penske Media’s new sports business platform, which won't launch until the summer.
For Sportico, that's not the best timing, in terms of advertiser revenue, but there are lots of things to write about in sports business. But that's why the article appeared in Variety, a Penske publication focused on entertainment, which is part of the Barclays Center's lineup, of course.
Only speculation
Until more information surfaces, the most immediate rationale for Sung's departure is that this is a budget issue, since arena revenues are obviously not covering expenses, and were already challenged before the coronavirus crisis.
But who knows--arena/team CEO, David Levy, came and went quickly, which suggests potentially some tensions with owner Joe Tsai.
While @barclayscenter and other sports facilities go dark for unknown but significant time, no revenues, so (I speculate) a time to cut salaries/positions? https://t.co/ewN669drRl— Norman Oder (@AYReport) April 24, 2020
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