Phoenix LXXII: Send in the Clowns
View Single Post
02-19-2013, 11:27 PM
Join Date: Aug 2009
Location: Orbiting BoH
Originally Posted by
The other 29 owners have sunk north of 170 mil into this team! Hypothetically speaking if you were an owner and you were assured that buying this team out of BK you would get your money back, would you be ok with letting them go for 110 mil? This team could go for 75 mil yet they would still lose money, time to leave!
They put $140M buying the team out of the BK (not $170M).... that's the only known figure. For that price they got to protect their right to determine where they place franchises.
It is presumed that the additional $30M came from losses incurred that season and because Gary Bettman had promised the other 29 owners that he could flip the team onto a local buyer and not lose any money in the process.
So it appears that, from the beginning, the league wants to protect their location rights, and not pay for it in the end. I contend that the league needs to pay that price.
View Public Profile
Find More Posts by TheLegend