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: Aug 4, 2008
Posted on: November 15, 2011 2:39 pm
 

The biggest lockout loser could be Miami

This is exactly why cities and other municipalities should not be building stadiums and arenas for pro teams. Infrastructure  must be done by the city as specified by the various city codes. The rest of the build the arena and we will  rent the place is a bunch of garbage. I think the arena in Indianapolis is almost empty and the NBA franchise is not paying a cent in rent.

If the city attempt to get the back rent through the court system, the NBA franchise attorneys would find a loop hole in the basic agreement  that would not require them to make up the back rent.

The NBA might as well call off the current season and get their act together. I am not sure I would want to be a fan after this season.

I feel as if they are taking the fans for granted. Their attitude appear to be we will settle this when we get ready. The fans will come no matter what we do.

I for one can do without this drama from the players and owners.
 
Not only that, I am willing to bet the franchises will raise the cost of a ticket as well as concession prices.

No fan is sitting in the negotiation room, but the fan will be the ones to have to pay more for the same product.

Most of these products are a losing proposition.


“ONE MAN’S OPINION”





Since: Sep 5, 2006
Posted on: November 15, 2011 2:20 pm
 

The biggest lockout loser could be Miami

qazwx4 - you have selective memory. The NHL lost an entire season to a lockout in 2004. If you're looking to compare the NBA to a "better" business model or product based on work stoppages, pick a better example. Your entire post illustrates perfectly why the owners are not afraid to lose a season. Fans always come back. You claim to be an NHL fan, yet you dismiss their own 10-month lockout while bashing the NBA for theirs (which has yet to cost us a season). You could argue that the NHL needed a lockout more, and you'd be right. But don't paint them as a model organization when we are 6 years removed from no hockey. And keep this in mind also: the NHL CBA expires after this season. Another lockout is a very, very real possibility. NHL teams are bleeding money worse now than they were in 2004. The salary floor now is higher than the salary cap owners got after a season was toasted. There are WAY too many teams and WAY too many bad markets. Their lockout is up next.



Since: Oct 6, 2006
Posted on: November 15, 2011 2:08 pm
 

The biggest lockout loser could be Miami

Besides your ignorant comment on illegal immigration, I agree, any city that puts this much on the NBA deserves to lose. Considering the rising popularity of the NHL and MLS, the fact that the NFL, MLB, and college sports are all popular, and even a few other fringe sports like Arena Football are all in existence, there are PLENTY of other ways of gaining revenue for cities. NBA losing a season is NO BIG DEAL unless you put that much stock into it. I really hope this helps the NHL and MLS skyrocket in popularity, they are better products than the NBA anyway.



Since: Sep 27, 2006
Posted on: November 15, 2011 1:57 pm
 

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.



Since: Jul 7, 2008
Posted on: November 15, 2011 1:49 pm
 

The biggest lockout loser could be Miami

In MN they are going to lose 100 maybe 125 dollars.  Oh wait you guys are talking in millions. 



Since: Dec 10, 2006
Posted on: November 15, 2011 1:48 pm
 

The biggest lockout loser could be Miami

Time for the cities to file a class action suit. All this taxpayer money going into the business and getting nothing in return: maybe the final settlement should be owners 40%; players 40%; cities 20%.


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