The Pacers reported an operating loss of $12.3M in the
FY ended June '98, according to the audited financial
statement submitted to Indianapolis' Capital Improvement
Board and cited by Sean Horgan of the STAR-NEWS. The loss
is a 36% improvement over the $19.23M loss in FY ended June
'97. Pacers officials "credited the additional revenues
generated" from three playoff rounds with helping to reduce
the '98 operating loss. Pacers President Donnie Walsh said
the "biggest part" of the team's "expenses is payroll for
the players." Figures also revealed that in addition to his
$4M annual salary, Pacers Coach Larry Bird receives "stock
ownership interests" equal to 2% of the "outstanding common
stock of the company" for each contract year he completes.
Bird may also "require" the Pacers to repurchase his stock,
and while the NBA "has yet to approve the stock issuance"
the team expects the league to do so (STAR-NEWS, 11/15).
OTHER TEAM NOTES: Mavericks President & CEO Terdema
Ussery said that "only six people" have canceled their
season tickets, and the team has lost "no major corporate
sponsors" and only "three or four" smaller corporate
sponsors. Season-ticket renewals are "running at more than"
90% and that broadcast revenues "continue to roll in."
While Fox Sports SW execs "wouldn't discuss details" on
their arrangement with the Mavs, the net "won't end up
paying for games that are not played" (STAR-TELEGRAM,
11/16)....NBA Kings President Rick Benner said all employees
in the organization have "continued to receive checks"
during the lockout. Benner: "There have been no raises and
there are people who have left seven or eight positions, and
we've elected not to fill those slots until we have a little
better feel for the lockout" (SACRAMENTO BEE, 11/15).
