ESPN is trimming down its on-air talent in an effort to save money.
The network laid off its top NBA analyst, Jeff Van Gundy, June 30, according to the New York Post. Van Gundy, who has been with ESPN since 2007, formerly served as the head coach of the New York Knicks (1996-2002) and the Houston Rockets (2003-2007).
DON'T MISS: ESPN to Let Go of Another Prominent On-Air Talent
The move comes as ESPN is looking to cut some major expenses. The Post reported that the Disney-owned sports network is expected to lay off around 20 on-air personalities June 30, according to an internal memo.
“Given the current environment, ESPN has determined it necessary to identify some additional cost savings in the area of public-facing commentator salaries, and that process has begun," ESPN said in a statement. "This exercise will include a small group of job cuts in the short-term and an ongoing focus on managing costs when we negotiate individual contract renewals in the months ahead."
More Sports Business:
- ESPN is Receiving Heavy Criticism for Its NBA Playoffs Coverage
- The Saudi Multi-Billion Dollar Investment in Global Sports Explained
- How the NBA Finals Ratings Impact the Future of the League
Van Gundy will end his ESPN career just short of 100 Finals games.
"This is an extremely challenging process, involving individuals who have had tremendous impact on our company," ESPN said. "These difficult decisions, based more on overall efficiency than merit, will help us meet our financial targets and ensure future growth.”
July 4th Sale! Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now for 75% off.
