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WILL TAYLOR BE GETTING COLD SHOULDER AT NBA OWNERS MEETING?
Published October 9, 1997
Attending an NBA owners meeting in N.Y. today, T-Wolves Owner Glen Taylor "might find himself on the outs with a group in which he had been a central figure -- investors in small-market teams," according to Steve Aschburner of the Minneapolis STAR TRIBUNE. Taylor, who signed F Kevin Garnett to $125M contract extension, said, "I've already had owners call me. It wasn't anything negative. More along the lines of, 'We understand.' They know you're darned if you do and darned if you don't" (STAR TRIBUNE, 10/9). BREAK DOWN: In an analysis of Garnett's new contract and the Timberwolves' finances, the AP determined that the deal "is built on the rosiest of scenarios -- including a possible doubling of the NBA's $1.1 billion, four-year, TV contract with NBC and Turner Broadcasting starting next season." The renewal of the team's local media deals, increased profits this season and higher ticket prices in the future also will help, and "if all goes well, the Timberwolves could blossom into a glamour franchise and grow in value to more than $300 million by the end of the contract." But the analysis also shows that team losses could reach $56M over the life of the deal, with $103M in losses occurring over the last four years. One way the team "might avert" those losses is with pay-per-view broadcast rights for future games (AP/STAR TRIBUNE, 10/9).