Some teams in Spain reported me that some of the demoted teams earn more money than in the upper division with more attendance too.
Examples:
Demoted from ACBB (I) to II
(http://www.buzzerbeater.com/team/75788/arena.aspx)1st attendance of the season 32 II = 19746
Last aftendance of the seson 31 ACBB = 15171 (match against the 1st in ACBB)
Demoted form IV to V
(http://www.buzzerbeater.com/team/75728/arena.aspx)1st attendance of the season 32 V = 10540
Last attendance of the season 31 IV = 8491
Demoted from IV to V
(http://www.buzzerbeater.com/team/76749/arena.aspx)1st attendance of the season 32 V = 19522
Last attendance of the season 31 IV = 9024
I am not sure if it could be a bug or it could be because they change the prices when demoted.
Others teams said that they notice the demotion attendance drop in his gate receipts and attendances.