Play-in Tournament Returning in 2022
Did you like the NBA’s play-in tournament experiment? Yes? There is good news! The NBA play-in tournament is here to stay for at least one more season and perhaps beyond if it continues to bring revenue and ratings for the NBA.
Structure of the play-in tournament
The play-in tournament 2022 will follow the same format as that 2020-2021. Before the play-offs, the 7th highest winning percentage team will host the team with the 8th highest winning percentage in a play-in game to claim the 7th seed in the play-in tournament.
The 9th highest winning team will host the team with the 10th highest winning percentage in a play-in game. The loser of 7 vs. 8 will host the winner of 9 vs.10 to secure the 8th seed in the play-in tournament.
Thus, the team no.7 and the team no.8 have to win one game to secure a play-off spot, while the teams no.9 and no.10 must win two games in order to qualify.
Important dates to remember
The play-in tournament will start between 12th and 15th April 2022; four teams will compete to secure two postseason spots in each of the two conferences. The play-off tournament will take place from 16th April, and if the series goes to game 7 of the NBA finals, it will be over by 19th June before the final draft of NBA on 23rd June 2022.
NBA as a business
NBA is a global sports and media business that generates $8 billion in revenue in a year. Ticket sales, viewership, concessions, merchandising, and some other factors contribute to the NBA as a business. What’s more, the company uses these elements to boost its popularity and profit by allowing the game enthusiasts to watch or buy products for their business/brand.
NBA’s massive television deals
Did you know that for the 2016-17 season, Turner Sports and ESPN re-upped their contract with the NBA and agreed to pay $ 24 billion? Perhaps the cost of the ticket to a live event, food, parking, etc.; many people opt to stay home and watch the game on television. That’s why the NBA managed to sign some massive deals.
NBA’s merchandise: Sponsorship
Basketball is ranked as the 3rd most popular sport globally, and the NBA knows how to cash its popularity. The league sponsors small businesses that want to get their name out there for marketing purposes. The NBA signed a deal of $1 billion with Nike in 2015; there are chances that this number might have doubled in the last couple of years.
Top 3 business lessons learned from NBA
Have you always been a hard-core fan of your team? We can bet that you didn’t realize something important — NBA basketball teaches some of the best business lessons, and here they are.
1. Establish clear goals
In business, just like in professional sports, you need to develop the right set of skills, you have to be more focused, and you have to achieve a goal in order to win the competition.
Just like basketball, businesses require a different set of skills, but what matters is your goal and what you are doing to achieve the mission. That’s where board management software can be a game-changer for your business. It helps streamline the whole administration process and enhances corporate governance, which, in turn, assists you in achieving the strategic goals of your business.
2. Form the best team
Would you prefer a team with as many superstars as possible or one with complementary strengths and personalities? Perhaps, you will choose the superstar team. However, going for the best doesn't guarantee success; you need to think out of the box and be more strategic, and have players with complementary abilities.
The same principle applies to the business; you need to assess all the possibilities and form a team with complementary personalities and skillsets. But, don’t know how to keep everyone on the same page and evaluate regularly? Fret not: the board portal software has you covered. It offers a seamless ability to share, review, comment, and store essential documents.
What’s more, with the virtual board software, you can create breakaway groups within the virtual space and stay connected as a team.
3. Remember that training is crucial
Basketball and no practice? How does that sound? Awkward, right? Players can still be good but practice makes the man perfect. If they aren't practicing, there will be no structure to the game.
Now think of your employees; they know how to do their job but still need some polishing to get the job right. The board portal allows you to conduct virtual training and saves you a lot of time and other resources.
The NBA is not only here to stay, but it is also an antecedent that might be introduced to boost the regular game season. Moreover, mid-tournament can help generate revenue and interest through new merchandise opportunities, broadcast deals, and sponsorship. We’re looking forward to watching the event in April 2022.