Michele Roberts released the following statement in response to Adam Silver's comments this week about several teams still losing money despite salary givebacks and enhanced revenue sharing.

"Under the CBA, we do not have a gross compensation system. The players' 50% share is calculated net of a substantial amount of expenses and deductions.

"New and renovated arenas around the league have proven to be revenue drivers, profit centers, and franchise valuation boosters. That has been the case over the past few years in Orlando, Brooklyn, and New York, to name a few. In some instances, owners receive arena revenues that are not included in BRI. Many teams also receive generous arena subsidies, loans and other incentives from state and local governments as part of their arena deals.

"Virtually every business metric demonstrates that our business is healthy. Gate receipts, merchandise sales and TV ratings are all at an all-time high. Franchise values have risen exponentially in recent years, and the NBA has enjoyed high single digit revenue growth since 2010-11."