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Blog Entry

The biggest lockout loser could be Miami

Posted on: November 15, 2011 1:14 pm
Edited on: November 15, 2011 1:14 pm
 
Posted by Royce Young



With an NBA season hanging in the balance, thoughts are shifting to who has the most at stake right now. Who loses the most without a season? Players? Owners? Fans? Teams?

All of the above, really. But in terms of dollars and cents, Miami loses the most. Not the Heat though -- the city.

According to CBS Miami, the city will lose some $200 million without an NBA season. Parking next to the arena is currently going for just $3. A nearby Buffalo Wild Wings has already seen its sales drop dramatically from last year.

It shouldn't be surprising though. When a $4 billion business disappears, things are affected. A report from Cleveland says the NBA accounts for 35 percent of annual downtown restaraunt revenue. Estimated losses for Portland are $59 million. For Oklahoma City, $60 million. For San Antonio, $90 million.

Some cities like Memphis have considered filing a class action suit against the league because taxpayer funds were used to build a new arena that now is sitting empty.

We all know that a season without the NBA greatly changes things for a lot of people. We've all heard players pretend to apologize to arena workers about it. We've all heard David Stern pretend to call this a tragedy. People are hurt by this. Cities are being damaged. Maybe it's irresponsible for businesses and cities to put so many eggs into the NBA basket, but it's just the way it is.

I live in Oklahoma City. And the overhaul the city has seen in the three years the Thunder have been here is incredible. But right now, a newly renovated arena is sitting there with new outdoor video boards and a brand new grand entrance that nobody is using. And the city is not only paying for that still, but not reaping any of the rewards that were promised to it because of a team.

Projections in OKC early on said the city would add an extra $50 million to the economy with an NBA franchise. But that number is around $60 million now and growing. People wanted an NBA team here regardless, but to that casual person, the promise of an economical boost was enough to vote yes on a new tax to get a team. And now citizens are getting absolutely no return on their investment.

Everyone is losing. Everyone. Except the lawyers. They're winning big.

Via The Post Game
Comments

Since: Apr 22, 2009
Posted on: November 16, 2011 12:47 pm
 

The biggest lockout loser could be Miami

There is NO way that the Miami Heat make 200 million dollars a year for the city of Maimi, NO way that Portland, OKC, or San Antonio make their stated numbers.  San Antonio  breaks down to 2,195,121.19 a game.  Based on 25,000 people a game, each and every fan in attendance would have to spend $87.00 before even going to the game.



Since: Sep 17, 2008
Posted on: November 16, 2011 11:36 am
 

The biggest lockout loser could be Miami

Hmm, arrogance at best.

Stop being blinded by arrogance and try to see the world through clear eyes.
Arrogance...you keep saying that word...I don't think it means what you think it means. - Inigo Montoya, YKMFPTD



Since: Aug 16, 2006
Posted on: November 16, 2011 11:04 am
 

The biggest lockout loser could be Miami

Any city that banks on the profits, or losses, of an NBA team is crazy and should just default and go away.  Miami is a cesspool of illegal immigration anyway.  Go bankrupt and go away.



Hmm, arrogance at best.

Every city that houses a professional sports team is banking on the profits that team will generate, along with the added jobs they create.  Cities don't have sports teams, and finance stadiums, just so they can have a team.  it is a business decision factored in by banking on profits, tax revenue, job creation, and whatever ever else.

Miami is a cesspool of illegal immigrations.......new york, Seattle, Des Moines, San Francisco, and pretty much any other city in America falls under this category too........especially the bigger cities.

Stop being blinded by arrogance and try to see the world through clear eyes.




Since: Aug 16, 2006
Posted on: November 16, 2011 10:54 am
 

The biggest lockout loser could be Miami

If the Heat actually generated $200 mil in income for the city they would have paved the streets with gold. Please stop with the hyper-inflated propaganda. People are smarter than this writer, and, by the gist of the article, more honest than him too.



Read a little better there, in between the lines if you have to.
Not so much for the city government but rather lost revenue throughout the city such as restaurants, shops, vendors, parking lots attendants, game day events, and the such.  Factor in also the tax revenue that would have been made from these as well as the lost wages of the day every day worker that would be employeed within the stadium and it equals out to be the sums that are reported.
Overinflated numbers? Not hardly.  Big cities and glamour cities loose a lot of cash flow (businesses included) and this number is right up there.  I would actually like to see how much the Knicks and Nets have cost their respective areas.
Also, the writer isn't the one who comes up with the numbers.  These numbers are whats been reported, so his honesty should have never been in question.

Please, re-read and also do some fact checking before making failed assumptions. 



Since: Jun 20, 2010
Posted on: November 16, 2011 9:47 am
 

The biggest lockout loser could be Miami

Let's see, do I feel sorry for the people charging me $25 dollars to park 3 blocks from the areana....no.  Do I feel sorry for Chili's charging me $9 for a burger and $4 for a beer before the game....no.   Do I feel sorry that my 12 year old wants to go to a game for his birthday and there is no game to take him to.....YES!!    NBA, players and owners, wake up!  You are going to deserve everything that happens negatively to the NBA after this lockout is over.



Since: Sep 17, 2008
Posted on: November 16, 2011 9:02 am
 

The biggest lockout loser could be Miami

It's amazing that there are so many posters here that are Economic gurus and seemingly write the books and are the actual CPAs of every franchise in every city. These numbers only seem inflated to you common folk because you live in the common world and can't fathom the actual money that flys through the air every day. My favorite is people saying that owners make too much money...that's an incrediblly ignorant statement to say the least. Welcome to America, foreigners! Work hard, educate yourself, and make a living any way you choose. If that hard work and knowledge leads you to making millions, billions, or trillions, so be it! For those who say "the owners" make too much money, when you go buy your next Keg of "incert socially awesome light beer", I'd like to see someone come tell you you have to much available to drink in that keg, after you earned the right, made the choice, and paid for the entire keg, expecting the return of your investment to get sloppy drunk, get a toothless she-man with torpedo tits sloppy drunk, and to eventually piss on your own floor. Live your life, in your worlds, go vote for Obama so you can get more free unearned compensations that every human being should learn to earn, don't go to the NBA store or arenas, and stop caring about a life that you don't want to put forth the effort or risk to achieve yourself. You chose your life's path, the owners chose thiers, and based off of the measure of jealousy in these complaints against the owners, get over yourself knowing you were to lazy to make better decisions.



Since: May 2, 2010
Posted on: November 16, 2011 7:47 am
 

The biggest lockout loser could be Miami

 I wil respond by pointing out that Chicago, Seattle and NY also have large immigrant issues, and they are not exactly in the South.  So you too are ignorant, or at least geographically challenged.
Just because I said the South has many cities loaded with illegals doesn't exclude the fact that the North may as well.
Your inferring so was a stretch.



Since: Apr 15, 2008
Posted on: November 16, 2011 1:21 am
 

The biggest lockout loser could be Miami

I have no sympathy for these owner's and especially a billionaire owner for the Heat, but (according to some commenters) if the player's and owner's are all over paid and greedy and the money can be used better elsewhere, how do you support any professional sport? There all greedy and overpaid when it comes down to it... damn, you must not even be fan's of any sport if that is your view point. 

If you have a business, and I mean these dining establishments & bar's and your whole profit margin is dependent on the NBA, and the NBA only.. Find a better business to get into. 



Since: May 29, 2011
Posted on: November 16, 2011 12:27 am
 

The biggest lockout loser could be Miami

I am with you dude



Since: Jan 8, 2011
Posted on: November 15, 2011 10:33 pm
 

The biggest lockout loser could be Miami

I thonk this might be good the 4 Billion dollars could go to help the economy,
people could be spending on many other things instead of going into the pockets of these greedy players.


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com