NBA Lockout and Capitalist Economic Crisis

Professional sport as an important expression form of modern culture and economy, takes wealth and social value creation as the ultimate purport. The association lockout (Lockout) is a frequent phenomenon during the process of capitalist professional sports development, that is the suspend situation of the league due to individual rights, labor strikes, work stoppages or caused by labor-employer together, and is closely related to the capitalist economic and social development. 2011 NBA lockout event is a typical case that the capitalist economic crisis affects the normal development of the league, the mortgage market in the U.S. and global financial system suddenly collapsed in 2008, had a great impact on financial markets, inevitably lead to a sharp decline in household consumption expenditures, thereby affecting the overall association revenues of season tickets, television broadcast, advertisement and so on. Labors required to maintain BRI57% of the share in 2005 labor agreement and the implementation of flex salary cap (Flex Salary Cap), employers are required to implement a hard salary cap and cut down 20 billion U.S. dollars in the next 10 years, both sides determined to defend their own interests and positions, the lockout result naturally came out. Although facing to the fact of the real economy recession resulted from the financial crisis, sufficient confidence must be given to the capitalist real economy and the internal laws of culture markets.