SBD/2/Franchises

NBA TEAM NEWS: LOCKOUT LOSSES ALONG THE CUYAHOGA

          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).

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