76ers, Devils to Reduce At-Will Employee Salaries Up to 20% Amid COVID-19 Hiatus

The Philadelphia 76ers' and New Jersey Devils' at-will employees will have their salaries temporarily reduced by up to 20 percent beginning April 15 because of the coronavirus pandemic, via the New York Times' Marc Stein.

Harris Blitzer Sports & Entertainment, which owns the Sixers and Devils, later confirmed the report:

Stein added the mandate applies to employees whose salaries exceed $50,000 and will continue through the end of June. Employees on contract, including the front office and coaching staffs, will be asked to participate in the cut but will not be required to do so, per Stein.

The NBA and NHL seasons have been suspended in order to limit the spread of COVID-19, with no firm timetable as to when they'll return.

ESPN's Adrian Wojnarowski reported NBA owners and executives "are bracing for the possibility of mid-to-late June as a best-case scenario." The NHL is on hold until at least mid-May after the Centers for Disease Control and Prevention recommended holding no events with 50 or more people for at least eight weeks.

Such a prolonged hiatus is bound to have a significant impact on the bottom line for major sports leagues.

Players and teams throughout the NBA and NHL have stepped up to provide funds for full and part-time workers who are out of a job for the time being.

NHL deputy commissioner Bill Daly confirmed to ESPN's Greg Wyshynski that hockey players will receive the entirety of their 2019-20 salaries.

Their counterparts in the NBA don't yet have the same certainty regarding their finances. According to Wojnarowski, the NBA will pay players their usual salaries April 1 "but left open the possibility of recouping future salaries for canceled games on April 15."

Between the fallout from Daryl Morey's tweet supporting protestors in Hong Kong and the ongoing pandemic, the Washington Post's Ben Golliver noted the NBA could be more than $1 billion in lost revenue when all is said and done.