Tuesday, May 7, 2013

SacTown Group Would Forego Revenue Sharing If Kings Stay

((HT: News10.net))

Here's a twist for you... giving up money to keep a team in town...

That's what Vivek Ranadive, one of the lead owners in the proposed Sacramento Kings group that would keep the team in town, is saying they'll do if the Kings get to stay.

The group will turn down revenue sharing dollars from the larger-market groups in exchange for the team's staying- a huge concession...to the tune of $15-million or more... as much as $18-million this season alone.

The idea currently under discussion is that while the Kings play at their current arena, the new owners would take less and less. But when the team moves into their new arena, the revenue sharing moneys would go away completely.
From the Sacramento Bee article with Dale Kasler and Tony Bizjak: The Ranadive group's refusal to take revenue-sharing money is "a bold position on their part," said Irwin Raij, a sports attorney in New York. He said he isn't aware of a team in any pro sports league that has rejected revenue sharing. "They are without a doubt sending a message to everyone (about) their supreme confidence in the market," said Raij, who served on Sacramento's arena task force in 2009. Larry Coon, a University of California, Irvine, economist and expert on the business of the NBA, said the pledge weakens Hansen and Ballmer's case. "It would directly counter one of the main incentives for having a team in Seattle," he said.

Bold... sure...
Folly...??? Maybe, by the time this whole thing is done...

Construction schedules and environmental impacts are set to be discussed over the summer- so construction can, optimistically, begin...

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