The NBA lockout is having an adverse effect on Memphis businesses and the loss in revenue could become more pronounced with the entire 2011-12 NBA season in jeopardy.
The lockout couldn’t have come at a worse time for the Memphis Grizzlies and the small businesses surrounding FedEx Forum.
Following last season’s playoff run, the Grizzlies were riding a wave of enthusiasm the franchise hasn’t experienced since the end of the 2005-06 season.
After the players union rejected the latest proposal from owners on Monday, NBA commissioner David Stern canceled games through December 15.
The NBA has already lost nearly a quarter of their games this season and with negotiations for a new collective bargaining agreement at a standstill, more games will likely be canceled.
The loss of games means that small business owners like Ty Agee are going to potentially see a 30 to 40 percent drop in revenue.
Agee, the president of the Beale Street Merchant’s association and owner of Miss Polly’s Soul City Cafe, spoke with Memphis ABC affiliate ABC24 on Tuesday.
Watch the video and read more about the NBA lockout’s effect on Memphis business owners at ABC24.com.
