Regarding teams losing money: keep in mind that we don't actually have the numbers at hand, and that info is relying on people who have a huge incentive to lie about revenues.
Also keep in mind that a basketball team losing money is not necessarily bad for the owner, as there are multiple ways to use depreciation and losses as tax write offs for other business. There are estimates out there that up to 10% of a franchise's value is the capitalized value of player contract depreciation. Something that doesn't show as a profit, but benefits owners immensely come tax time.
Think about it, if franchises were so incredibly unprofitable, why would they be increasing in value year after year? And, given the fact that franchises are increasing in value so fast, doesn't that make occasional annual losses a lot less significant?