After listing NHL franchises yesterday, THE DAILY lists
FORBES' franchise valuations for all NBA teams today (#33).
The following is team reaction to the valuation figures
presented in the current issue of FORBES:
QUEEN CITY BUZZ: In Charlotte, Rick Bonnell writes that
Hornets Exec VP/Business Sam Russo "attributes" the team's
$136M value, which ranks 25th out of 29 teams, to the
franchise's "arena problems." The team was "leapfrogged" by
the Spurs, Raptors and Mavericks -- all of whom have new
arena deals. Russo: "I think that we're (ranked) right where
we should be, with what's going on." Russo, on Forbes'
figure: "These are ball-park figures -- they're pretty
close." But Russo adds, "Do they know anything about gross
expenses? It seems to me they came up with one set of
figures, then assumed everybody's (non-player) costs were
about the same" (CHARLOTTE OBSERVER, 11/30).
PAT BRIMMING WITH OPTIMISM? SHOCKER! 76ers President
Pat Croce, on his team being listed as the sixth-highest
valued NBA franchise at $231M, an 18% increase from last
season: "To me, this is a great indication that our
franchise has been resurrected. It's not just the value of
the assets that makes you feel good, it's that the worth of
the team has increased in the eyes of business individuals.
... I've believed all along that we're one of the top
franchises in the league" (PHILADELPHIA DAILY NEWS, 11/30).
BUCKING A TREND? Bucks VP/Business Operations John
Steinmiller said that Forbes' $111M valuation of the Bucks,
which puts the franchise 28th in the league, is
"inaccurate," but he declined to "provide the team's actual
bottom line" (MILWAUKEE JOURNAL SENTINEL, 11/30).
SKATING INTO NASHVILLE ...: Predators President Jack
Diller "refuted" Forbes' figures, including a $130M total
value (15th in the league) and leading the league in
operating income with $17.8M last season. Diller: "The
numbers reported there are not an accurate reflection of the
financial realities of our franchise. There's no reason to
think they would be, because these people are in no position
to know." Diller: "We made a tidy, small profit last year,
but unfortunately it's nowhere near the size of that
estimate. It's one guy's guess, and it's not a very good
one at that. ... But it gets you angry because it does give
people an incorrect picture" (Nashville TENNESSEAN, 11/30).
NOTES: Boca Resorts spokesperson Ron Castell, on
Forbes' valuation of the Panthers: "They never come to us
for information. In most cases, they are off the mark"
(BRIDGE NEWS, 11/29)....The Senators' US$16M drop in value,
according to Forbes, is the "biggest percentage drop" in the
NHL. Senators Chair Rod Bryden: "(The survey) is based
primarily on net revenue after tax" (OTTAWA CITIZEN, 11/30).