If the doomsday scenario for basketball fans takes place and the 2011-12 season is completely canceled, it would cost arena operators more than $1 billion in lost ticket revenue.

A season ago, the 30 professional basketball teams in the NBA delivered more than $1.1 billion in ticket revenue, according to the annual postseason audit done by the league and players union.

The Knicks alone generate at least $1 million in ticket revenue per game at Madison Square Garden, for a total of about $45 million over the course of a full 41-game home schedule.

It would be an even bigger issue for Staples Center in Los Angeles -- the only arena that houses a pair of NBA franchises. The Clippers and Lakers account for 43 percent of all events at Staples. The Lakers create nearly $2 million in ticket revenue each game.

In cities like Miami, Indianapolis and Memphis, the NBA teams also make up at least 43 percent of those arena's events per year.

John Wentzell, president of TD Garden in Boston, home of the Celtics, tells Bloomberg it would be "impossible" to replace each arena's 41 scheduled game nights with concerts. Lady Gaga, Katy Perry, Taylor Swift and Linkin Park are booked way in advance.

NBA players were locked out on July 1, with the league claiming it has annual losses of $300 million. The players and owners have fundamental disagreement on how to share the over $4 billion in revenues.

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