Tag:team sale
Posted on: November 21, 2011 9:57 am
Edited on: November 21, 2011 9:59 am

Report: Without new system, Utah Jazz for sale?

By Matt Moore 

Whatever your feelings are on competitive balance, market economics, or parity in the NBA, it's hard to dispute the fact that pro basketball in certain markets is an institution. There's a million things to do in Los Angeles, a million different options of how to spend your time. New York is the cultural center of the modern world. Those cities love their teams and take pride in the teams representing their respective metropolitan goliaths. But in places like Portland and Salt Lake City, it's a different feeling. In short, the fans are completely insane. It's a way of life in those places, it's part of their heritage, it encapsulates a lot of people's lives and their families. 

And both of those teams could wind up getting sold if the current trends continue.

Portland Trail Blazers owner Paul Allen was rumored to be pushing for a deal in pursuit of selling the team months ago, an allegation the Blazers strongly denied. Now comes a report from the Deseret News that the family of the late Larry H. Miller could be considering selling the Jazz
In fact, one source with intimate knowledge of the Larry H. Miller Group of Companies inner workings speculated that small-market-related economic hardships could force Jazz ownership to place a "For Sale" sign on the franchise. The source told the Deseret News that the Jazz were expected to report losses in the $17 million range for the 2010-11 season.

"If I was a betting man," the source said, "my guess is that the Millers will sell the team within the next five years, unless this CBA changes the formula so that the team can make some money."

Others say the Millers will never sell the Jazz.
via Could bad deal mean end to Jazz in Utah? | Deseret News.

It's unfathomable to think of the Jazz being moved. They can clearly be successful, there. You have to wonder how much of this relates to overreactions to the current economic environment, and how much of it is purposefully leaked information to help in various legal and negotiating processes.

But if the group is serious about getting out of the business, it would be the cap on a depressing year for Jazz fans. They've lost the patriarch of the franchise,  their coach for the past 25 years resigned, and their star player was traded before he could leave in free agency. And now there could be new ownership. The most likely scenario if they are sold is to another group out of Salt Lake that would keep them in the city. Burning down the bridge of one of the most successful small markets, the home of Stockton and Malone, doesn't seem like something the league would be willing to tolerate. 

Then again, ask the fans in Seattle how that worked out.
Posted on: July 21, 2011 9:39 am
Edited on: July 21, 2011 9:49 am

Report: Hawks sale is 'moving fast'

By Matt Moore

Last we heard, the Atlanta Hawks' disaster of an ownership group had taken the team off the market. It looked as if there would be no movement for the foreseeable future, which was disappointing, as current ownership had mucked up the works for years. It's an ugly, untenable arrangement that needs resolution for the owners, the teams, the players, management and fans. And it looks as if, all of a sudden, there's significant movement toward new ownership. From The Atlanta Journal-Constitution
The people familiar with the situation, speaking exclusively with The Atlanta Journal-Constitution, would not identify the potential bidder because of confidentiality agreements, but described the process as moving fast. They said no offer or exclusive negotiating agreement is in place but that the potential bidder, who might have partners, has the financial wherewithal to complete a transaction.

The potential buyer has accountants and lawyers working extensively on the matter.
via No offer, but potential majority buyer in talks for Hawks, Philips Arena  | ajc.com.

There's no telling what "moving fast" means, or if that's weeks or months. But any progress is promising. Hearing the owner has "the financial wherewithal" is a nice thing to hear, as well. You'd think it would be a prerequisite for purchasing a NBA team, but then, look around at the men orchestrating this absurd lockout and you'll find that's not the case. 

How the Hawks sale could impact the lockout isn't known. How the Hawks sale could impact the Hawks' cap situation or the long-term contracts tied up in an only-above-average roster isn't known. But if there's progress and if the new owner brings energy and innovation, it could signal a move toward a sustainable future.
Category: NBA
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