NBA, NFL lockouts could hit NYC hard

Crain's New York Business reports:

The prospect of lockouts in both professional basketball and football next year could hit New York City businesses with hefty penalties, players and experts warn.

The head of the National Basketball Players Association said this week there's a 99% chance of a lockout next fall, and the president of the National Football League Players Association sent letters to the mayor, governor and governor-elect asking for help in averting the potential cancellation of the 2011 season over a labor dispute.