SBD/Issue 13/Franchises

NBA Owners On The Record: Schultz Says He’s Not Selling

Sonics Chair Howard Schultz yesterday indicated that rumors suggesting he is “displeased with the Sonics and is seeking to sell his share of the team are untrue.” Schultz “admitted that he has been less visible around the Sonics than he had in the past, but said his absence shouldn’t be misconstrued as disenchantment” (SEATTLE TIMES, 9/29).

NET GAINS? Nets Owner Bruce Ratner, on the level of support he expects this season “with the prospective move to Brooklyn and the team’s lower expectations”: “I think the prospective move doesn’t appear to be a major factor. ... If this were a team that had been branded and marketed, it would have probably been less significant with the loss of [F Kenyon Martin]. But you have fans who basically went there to see basketball, not so much for the experience. ... Frankly, I think we’ll do better than last year in terms of the number of fans” (Westchester JOURNAL NEWS, 9/28).

SUN-NY DAYS AHEAD: In Arizona, Greg Hansen writes new Suns Owner Robert Sarver’s sports business objective “is not any different than his real estate and banking holdings that made him ridiculously wealthy by the time he was 25. This is a man who has bought 20 banks. ... He’s a businessman who has worked 58 real estate transactions in excess of $2[M].” Sarver, on buying the Suns: “There are enormous tax benefits. By amortizing two-thirds of the amount we paid for the Suns, we’ll recoup half of the $400[M] purchase price in tax savings in the next three years” (ARIZONA DAILY STAR, 9/29).

Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug