Your opinion where are the Islanders in 2016?
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05-29-2012, 03:02 PM
Join Date: Feb 2002
Originally Posted by
Twine Seeking Missle
That is actually a good argument. I must say, I have never seen this argument presented in such a way. I will admit I don't know all the ins and outs of the cable deal and I won't pretend to. It just sounds a bit crazy when people bring it up as a reason the team can't leave. But if your numbers are completely factual, the $500 million number namely, then I might re-think my stance on that particular part of my argument.
I still feel like someone such as Balsillie (I know he won't get a team just using an example) with billions to spend would pay off the contract and not even think twice about it in order to get himself a team where he wants it. All it takes is one mega rich ******* for whom money is no object and that cable deal doesn't mean as much as once thought.
Cablevision recoiled at the possibility of paying the Islanders 18 1/2 percent of total FSNY-MSG revenues. In the talks, the team got an extension through the 2030-31 season, which features yearly payments rising from $14.8 million next season and $17.5 million in 2000-1 to $36 million in the final year, and the possibility of lousy performances causing a breach disappeared from the final contract.
If you work out the math, assuming it goes up the same amount each year, there's somewhere around $500 million left on the deal, give or take.
Regarding Balsillie, the league killed that deal by sticking a $100 million (or more -- rumors were they were going to drive it to nearly $200 million) relocation fee on it. There's a limit to how "determined" a buyer will be. While the league did not want him as an owner for what he did, that relocation fee is what got him to finally walk away. That's the type of value manipulation that the league has admitted it is doing to prevent teams from moving except under the most dire circumstances.
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