Sources: NBA, NBPA On Verge Of New CBA NBA Kings Buy Controlling Interest In D-League Affiliate Sources: Mark Davis To File Vegas Papers In January Raiders' Davis Earns Respect Of Other Owners Goldfarb Discusses Investments With Carmelo NBA, NextVR To Produce Weekly Games In VR Bon Jovi Dispels Rumors He Wants To Buy Titans Senators Struggling With Early Season Attendance Barclays Center Using VR To Sell Islanders Tickets Franchise Notes
NBA TEAM NEWS: LOCKOUT LOSSES ALONG THE CUYAHOGA
Published November 2, 1998
The NBA lockout will cost Cleveland and Cuyahoga County $378,400 in admission tax and $15.2M in tourism business next month, according to local estimates cited by Robert Vickers of the Cleveland PLAIN DEALER. The Convention and Visitor's Bureau estimates that each canceled Cavs games keeps $1.9M in tourism dollars from being spent in the city. So far, eight Cavs home games have been canceled. Gateway Economic Development Corp. Exec Dir Richard Owens said that each game generates about $17,700 of admission tax for the city and $29,600 for the county. A full-season lockout would cost the county about $1.6M in lost admission taxes. Cleveland Finance Dir Martin Carmody projects that for each month of the lockout, the city will lose about $135,000 -- $100,000 in admission taxes, $25,000 in parking taxes and $10,000 in hotel taxes (Cleveland PLAIN DEALER, 10/31). OTHER TEAM NOTES: In MN, Sid Hartman reported that despite the lockout, T-Wolves Owner Glen Taylor "has not laid off a single person and also gave the employees their normal raises" (STAR TRIBUNE, 11/1)....In Portland, Steve Brandon noted that the Blazers "have taken steps to appease disgruntled Rose Garden suiteholders." Some suiteholders "were upset" that they weren't offered the same policy as season-ticket holders -- full refunds at 6% interest for any lost games. But the Blazers notified suiteholders that for every home game not played they will receive either a cash refund, or credit plus 6% interest, for 1/44th of 50% the annual rent. A "typical refund" for a $65,000-$135,000 suite "would be close to $1,000 for each game not played" (OREGONIAN, 11/1)....FleetCenter President Richard Kreswick: "I talked with other arena managers and all of us feel that these games will be made up. They are not going to walk away from all of that money. None of us have had a policy on what we are going to do to repay the luxury box holders. We have to see how it all ends up" (BOSTON GLOBE, 10/31).