Raptors haven’t asked NBA for relief despite plummeting dollar

With the Canadian dollar in freefall, the Toronto Raptors have not asked the NBA for financial relief. (Nathan Denette/CP)

Despite a plummeting Canadian dollar, the Toronto Raptors have not reached out to the NBA for financial relief, according to commissioner Adam Silver.

Silver addressed the media prior to Saturday night’s all-star festivities in Toronto and touched on a number of topics, including the possibility of lending assistance to Canada’s only franchise.

“There is no current plans to make any adjustments, but we have a planning committee of our owners that deals with matters like that,” Silver said. “Of course it’s something that we talk to MLSE about all the time. I should say the issue is complex, because in many cases when it comes to league revenue that’s paid to the Raptors, it’s paid in U.S. dollars, and they have other expenses, of course, they pay in Canadian dollars. So it’s something that we’re studying.

“The Raptors have not asked for relief from the league, but there have been periods of time historically when the Canadian dollar was at a low point when there have been adjustments made. So we’ll continue to look at it. That’s the purpose of our planning committee, which also oversees revenue sharing among our teams.”

The Canadian dollar currently sits at approximately 72 cents U.S., but has fallen as low as 68.74 in the last month. There is a precedent for this type of move as MLB provided the Toronto Blue Jays and Montreal Expos with financial aid in the past.