NBA Franchise Notes: Blazers Lose “Tens Of Millions”
Vulcan Sports & Entertainment CEO Tod Leiweke, who assumed management oversight
of the Trail Blazers after former President & GM Steve Patterson resigned,
said that the team’s loss this FY “is expected to be in the tens of
millions.” Leiweke: “We can turn this around, but (the Blazers are)
still losing a lot of money.” Leiweke said that he is in “continuing
talks with representatives of Global Spectrum about operating the Rose Garden
and Memorial Coliseum” (PORTLAND TRIBUNE, 5/1).
T’WOLVES: T’Wolves Owner Glen Taylor would not disclose
how much the club lost this year, saying only “it was a bunch” (ST.
PAUL PIONEER PRESS, 5/2).
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Heat Owner Says He Is Not Opposed
To Going Over Luxury-Tax Threshold |
HEAT: The Heat’s payroll is $4M under the NBA’s projected
$68M luxury-tax threshold next season, and Owner Micky Arison said, “If
we can get us significantly better, we may be willing to go over the tax.”
However, he added the team has “one of the worst arena deals in the NBA,”
which makes it “virtually impossible to make money” (MIAMI HERALD,
5/2). SPORTSBUSINESS JOURNAL's John Lombardo writes with a $78M payroll and
a debt service on the team's $213M arena, Arison "said the Heat franchise is not
as profitable as one would imagine." Arison: "We are profitable on an EBITDA basis,
but bottom line, no, we are not profitable. We have the debt on the arena and
we don't have big local television revenue, but to be fair, I knew that coming
in" (SPORTSBUSINESS JOURNAL, 4/30 issue).
MAVERICKS: Warriors coach Don Nelson said that he has “initiated
proceedings for an arbitration hearing over the $6.6[M] he contends [Mavericks
Owner Mark] Cuban owes him” stemming from his original contract with the
team, signed by former Owner Ross Perot Jr. Nelson’s attorney added that
paperwork “was filed early last week.” But Cuban said, “I still
haven’t received it” (S.F. CHRONICLE, 5/2)....In Dallas,
Chuck Carlton writes Cuban is “avoiding NBA talk on his blog because of
the fine factor,” but he still “plans to be candid.” Cuban,
who said he has not been fined this season, said, “I pick my spots. You
just have to have an impact” (DALLAS MORNING NEWS, 5/2).
76ERS: In Philadelphia, Paul Vigna reports the 76ers’ average
attendance of 15,011 was down more than 9% from last season and set an all-time
low at the Wachovia Center. Season-ticket holders had to renew their accounts
before April 30 to avoid a price increase, but NBA Senior Dir of Team Business
Development Dan Reed said the team has “one of the most consumer-friendly
payment plans in the league.” Vigna notes fans can pay over nine installments,
while the early deadline “helps establish what’s available for ticketholders
who want to upgrade” (PHILA. DAILY NEWS, 5/2).
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