Franchise Notes

Tanenbaum Feels Prospective Owner Will Not Move Penguins

In Philadelphia, Phil Sheridan notes the 76ers are “almost certainly for sale,” and wonders “if Comcast Spectacor decided it was more profitable to run arenas and TV channels than to own” the 76ers and Flyers, “why not sell both?” Is it “more profitable to own the team outright or to sell and then charge the team rent for use of the Wachovia Center?” The “conclusion: The Flyers are still profitable enough to keep.” But if the 76ers “aren’t profitable enough, it is Comcast Spectacor’s fault” (PHILADELPHIA INQUIRER, 8/8).

SAM I AM: Maple Leaf Sports & Entertainment Chair Larry Tanenbaum, a “longtime family friend of” Connecticut-based real estate developer Sam Fingold, who has signed a letter of intent to buy the Penguins, said of Fingold and his family, “They’re very serious, dedicated people to any business endeavor they’ve gone into. I think they are very serious and dedicated to trying to keep the [team] in Pittsburgh” (PITTSBURGH POST-GAZETTE, 8/6).

DEFENSIVE MANEUVER: In N.Y., Fred Kerber notes because the Knicks, “with roughly a $121[M] payroll, are beyond the $65.42[M] luxury tax trigger, they must pay a dollar-for-dollar tax.” So yesterday’s signing of F Jared Jeffries to a five-year, $30M deal “costs the Knicks $60[M] total.” The Nets, Mavericks, 76ers and Spurs are the only other teams currently over the luxury tax threshold (N.Y. POST, 8/8).