In what is "believed to be an unprecedented move," the
NBA said Monday that season-ticket holders will be paid 6%
interest in addition to cash refunds for games not played
because of any work stoppage, according to Alan Pearce of
the ROCKY MOUNTAIN NEWS. The interest would be calculated
at 6% from the time full payment is due, or the date of
actual payment, if later. Although the season is scheduled
to start November 3, NBA Deputy Commissioner Russ Granik
said in a statement, "Regrettably, after last week's
negotiating session, there seems to be a greater likelihood
that the season may not start on time." Refunds will be
paid automatically at the end of each month. Fans who buy
individual-game tickets will be repaid in cash for face
value or given a rain-check (ROCKY MOUNTAIN NEWS, 8/11). In
Salt Lake City, Lya Wodraska reports that refund policies
for luxury suite, club seat and other premium seat holders
"will be determined on a team by team basis." Wodraska
calls the refund policy a "sign that the lockout could
continue for months" (SALT LAKE TRIBUNE, 8/11). The AP
echoes that, writing that the NBA is "sending a signal that
the lockout could last for months" (N.Y. TIMES, 8/11).
MCMORRIS PRAISES NBA MOVE: Rockies Chair Jerry
McMorris: "It's a new approach, one I haven't heard of. I
would say it's a strong outreach on the part of the NBA to
preserve its fan base. Frankly, I never heard anybody
discuss (interest payments) when we had the baseball issues
going on." The Bonham Group President Dean Bonham: "It's
out-of-the-box thinking, fan-oriented and with a strong
public relations-positive spin. It has all the earmarks of
a David Stern strategy" (ROCKY MOUNTAIN NEWS, 8/11).
SPURRED ON: Spurs Exec VP/Business Affairs Russ
Bookbinder said that the team is registering strong sales,
and estimated the renewal rate at "close to" 86%
Bookbinder: "We continue to sell them at a good rate. We're
tracking at the dollar rate of what we did last year, which
is a good sign" (SAN ANTONIO EXPRESS-NEWS, 8/11).
