NBA's Lakers stand firm in economic storm

By Mark Lamport-Stokes

LOS ANGELES (Reuters) - So far, so good for the high-flying Los Angeles Lakers, whose impressive on-court form this season has been matched by their robust resistance to the global financial crisis.

Although the U.S. recession has forced the National Basketball Association and the National Football League to cut jobs and Major League Baseball to freeze budgets, the Lakers have been remarkably unaffected.

While their players have again set the standard in the Western Conference with a stirring win-loss record of 25-5, Lakers' home attendances and the number of season ticket holders for 2008-09 have held firm.

"As of this point, we have not been adversely affected but we feel fortunate that this is the case," John Black, vice president of public relations for the Lakers, told Reuters.

"If the current economic climate continues to worsen, at some point we would imagine it will impact us in some way, as it is doing or will do with most every other business in the country.

"We have been very fortunate and have sold out each of our 17 home games so far this season. And our season ticket renewal rate for the current season was 99 percent, which we are also very pleased with."

Although the NBA slashed 80 jobs from its U.S. workforce in October because of the financial downturn, Black does not expect the Lakers to follow suit.

"We have not laid off any staff, nor do we have any plans to do so," he said.