Adam Silver said it was too early to determine the financial hit of suspending the NBA season, but "it's not a pretty picture."

“It’s too soon to tell what the economic impact will be. We’ve been analyzing multiple scenarios on a daily if not hourly basis and we’ll continue to review the financial implications. Obviously, it’s not a pretty picture but everyone, regardless of what industry they work in, is in the same boat," said Silver.

The shutdown will cost the league 259 games by April 15th, which was supposed to be the final day of the regular season.

The league announced that players will receive their full salaries on April 1st, but they could recoup salaries for lost games on April 15th. 

Fivethirtyeight.com estimated that league losses could approach $1 billion if no more games are played.