Questions Surround Bobcats As They Prepare To Tip Off Season
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Whitfield Says Bobcats' Renewal Rate
Ahead Of Where It Was Last Year |
As the Bobcats begin their sixth season, "questions continue to swirl, starting with majority owner Robert Johnson's ongoing efforts to find a buyer" for the team, according to Erik Spanberg of the CHARLOTTE BUSINESS JOURNAL. Local fan support "remains tepid," though there are "signs of hope" as the past two seasons have "brought a much-improved local TV contract and a belated naming-rights deal" for Time Warner Cable Arena. Spanberg notes the team's season-ticket base is estimated "in the 3,500 range," but Bobcats President & COO Fred Whitfield said, "At the appropriate time, I'll give you the correct numbers. We are clearly turning the corner on the business side. We hit a tough economic time, particularly with the banking industry being such a big piece (of the Charlotte economy). I know our renewal rate is ahead of where it was this time last year." There have been estimates that the team's ownership could lose $100M over the next three years, but Whitfield said, "If the team wins on the floor, you know just like I do, it turns quickly. ... What people should understand is it's not an ordinary business model. You can have significant losses, but with a pull of a ball out of a hat on lottery night, that potential loss can turn into making money." Meanwhile, Whitfield said of the atmosphere at Time Warner Cable Arena, "When I got here, I heard our games were way too urban, nobody wanted to bring their kids out, it was a horrible atmosphere. We worked day and night to make this a family environment. We changed the music. We changed almost everything to make it a family environment. ... It's been a transformation" (CHARLOTTE BUSINESS JOURNAL, 10/9 issue).
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