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800 Maynard Ave S, Suite 200, Seattle, WA 98134
800 Maynard Ave S, Suite 200, Seattle, WA 98134
The state of Washington has about 7 million people. The state of Oklahoma has almost 4 million. This is why you owe us the return of our franchise.
Also of note, a few miles down the road from Sacramento there is this team called the Golden State Warriors. They are currently participating in something called the playoffs.
It's a terrible precedent for the league, as it undermines their CBA with the union and weakens them in the anti-trust lawsuit Hansen will bring if his bid is again denied.
BTW, there is no lawsuit if the NBA chooses the other group; the NBA has zero obligation to allow a sale that Hansen wants just because it's more money. And if the NBA antitrust exemption is so weak in court, please, let's all sue the NBA for terrorizing cities into providing billions in public subsidy to line billionaire pockets.
"Owe" They owe us a team?
It never was our team. This is what sports fans will never get. It's their property. The owner's property. Not ours. We never won any games. They won. We never lost. They lost. We are not them. We are not the players. We are not the owners. Never were. Never will be, at this rate.
And that is why it's so asinine to give these rich fuckers tax breaks and sweetheart bond deals with shell game payments and all that other crap that picks our pocket and lines their wallet. When all is said and done, it's their property, not ours. They own it. They owe us nothing.
If we want a team, we should buy a team. If we're not willing to buy a team, then what the owners of teams do with their property has nothing to do with us.
"Owe us." My God, where to these kids come up with this shit?
It should be part of the constitution that we never get involved in the pissing matches of the super wealthy. We should, however, force them to resolve their issues in a reality TV show that is available on over-the-air television networks. It's the only true enjoyment most of us will ever get from this spectacle.
In NHL news:
http://prohockeytalk.nbcsports.com/2013/…
This is an extremely savvy move on their part. Do the owners want to set a precedent that the league can make them take $65 million less for their team? (The original offer was for $525 mil., 65% of the difference is...). They might hate the precedent of an arena deal that doesn't rake the public over the coals, but I think they're gonna hate more setting a precedent to allow the other owners to determine how much they can sell their team for.
Not to mention the clear collusion that doing that would indicate, although I'm not sure what laws the owners are subject to in that area.
@4-- As I read it, they're not forgoing revenue sharing like the Sacramento group was offering. They're just guaranteeing that they will be a net payer into the revenue sharing pool.
"That Bill Gates! Did you see all that money he spent on that house! If only he'd put that money to good use helping people!"
Wait...
Rule 2. Don't try to defeat a billionaire when he can drop a billion and not miss it.
Actually, Bill G is sinking his money in global health, even though the real risk is the increase in infectious diseases due to global warming, but hey, who's counting.
The money offered here is private money, not public money. It is not relevant to bring in education etc. into this debate. But, since you bring it up, this does bring a massive amount of new jobs in construction, stadium employment, restaurants, merchandise, design, professional athletes. Not to mention the incredible amount of new tax revenue brought into the city from people residing elsewhere, that would otherwise be spent elsewhere, will be spent in Seattle, benefiting our local economy, and therefore, every other item you mention needing funding.
Take a fucking economics class, for christ sakes, it is not that difficult.
My guess is that Hanson previously anticipated this and built in the additional monies needed to up his offer, multiple times, if necessary. It is what I would have done.
He has created a business, it is not charity. And besides, this arena and team will bring tremendous ammounts of money, jobs and tax revenue to our city. It is a godsend, and we need this right now.
As Goldy rightfully pointed out, this arena deal is the only deal of its kind to take place in this country in decades. The arena is paying paid for with private funds, that has not happened in my entire lifetime, anywhere in this country. IT is a phenomenally good deal for the city.
What is wrong with all the idiots today, do your fucking homework and like I said earlier, take a fucking economics class and learn how a local economy works! This deal will net the city tons of money over the next decade, while costing it virtually nothing.
And BTW, I don't give a flying fuck about basketball.
@ 24, 25 - Thank you! The stupid was getting kinda thick in this here thread....
he gets public finance
he gets to use tax payments as rent
he gets land upside with call option
he doesn't need to provide security the way a private borrower would be required to do
he doesn't have to pay real estate tax for 50 years the way you me and your grandmother does, when we run our businesses.
I'd like this deal with the city, maybe they could loan me just $20 millino and i'd pledge to repay it 2/3 with "taxes generated at or near my place of business, including sales tax, b and o tax, use tax and also, oh, please own my building so I don't have to pay real estate tax on it for 50 years and when that period is over give it back to me."
we'd all love that deal.
why does only a billionaire get it?
"empirical evidence suggests quite strongly that sports do not create many jobs or generate much economic growth. And such evidence has proven to be quite persuasive. In fact, a survey of economists by Gregory Mankiw noted that 85% of economists agree that local and state governments should not subsidize professional sports." (source)
Basically, they all get to choose where they spend it. It's their choice - basketball, health, or literally buying solar and wind power systems worldwide before the East Coast and Florida go under the waves in a couple of decades.
http://www.insidermonkey.com/hedge-fund/…
(How did he ever make money on Facebook though...)