NBA sued for $1.25M in missed rent on Fifth Avenue store

NBA sued for $1.25M in missed rent on Fifth Avenue store

NBA Media Ventures has allegedly not paid rent for April and May, when the store was closed.

NBA Media Ventures is being sued by a landlord who alleges the league has failed to pay $1.25 million in rent on its store on New York’s Fifth Avenue during the COVID-19 pandemic. The rent at the store is $7.5 million per year, or $625,000 per month, the suit says, and NBA Media Ventures did not pay rent for April and May, when the store was closed.

“Like other retail stores on Fifth Avenue in New York City, the NBA Store was required to close as a result of the coronavirus pandemic,” NBA chief communications officer Mike Bass said in a statement. “Under those circumstances, we don’t believe these claims have any merit. We have attempted, and will continue to attempt, to work directly with our landlord to resolve this matter in a manner that is fair to all parties.”

Source: ESPN.

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