Thursday roundup: NBA mulls expansion to raise quick cash, 60-year-old community-owned team sold to local rich dude, Crew may seek more tax breaks somehow

Happy pre-Christmas, everybody! (That’s the name for today, right? I really should Google that.) Here’s the stray news for the short holiday week:

  • NBA commissioner Adam Silver has called expansion the league’s “manifest destiny” and said that “it’s caused us to maybe dust off some of the analyses on the economic and competitive impacts of expansion” (what “it”? shh, don’t ask questions, the important man is talking) but “not to the point that expansion is on the front burner.” The implication is after losing like $1.5 billion in revenue, some quick cash from expansion fees sounds real good about now, but Silver’s not going to be the one to say that out loud, not when it might make him look desperate, not when it’s expansion cities and prospective owners that should be begging him to expand, that’s just how this is supposed to work, you know.
  • The Wisconsin Timber Rattlers, since 1958 run by a community-owned non-profit, have been sold to a local rich guy because, um, something about Covid. Also the non-profit’s chair, Tom Lehr, said “100% of the profits from the sale of the team to Third Base Ventures will be invested back into the team,” according to the Appleton Post-Crescent, which, what? This guy gets to buy the team, and also use the money he paid for it on the team as well? What is even happening.
  • The Columbus Crew‘s old stadium, which is set to become the team’s training ground plus public soccer fields, still belongs to the team while the land under it belongs to the state, and the team has to make $210,000 in payments in lieu of property taxes each year under a 2007 court settlement, but they’re working on a long-term lease now and a term sheet proposed by the team mentions “Ownership of existing MAPFRE Stadium to be discussed and examined in connection with real estate tax and other considerations,” and all this is a red flag but no one’s quite sure of what exactly. Maybe something that should have been considered before giving the Crew $98 million toward a new stadium? Ennnnh, that seems like a lot of work.
  • This year’s Rose Bowl is going to be played in Texas because that California has one of the nation’s worst coronavirus surges (Texas isn’t far behind, but Texas’s governor doesn’t care), and also this year’s Pro Bowl is going to be played on Madden, which warms my heart that our glorious future may finally arrive soon. If you’re wondering if the Pro Bowl had to be moved because its home stadium in Honolulu is on the verge of being condemned, nope, it was going to be in Las Vegas this year anyway, but, you know, Covid. Also, Honolulu’s outgoing mayor Kirk Caldwell warns that the city’s indoor arena is even older than the stadium and even though it’s getting a $43.6 million upgrade, “at some point you run out of life” and okay, yes, Caldwell’s plan for a $700 million replacement arena was already rejected and also he’s only mayor for another week, sorry, I don’t know why we’re actually talking about him.
  • There’s now an online petition against “any taxpayer funding being used to finance, construct, acquire, renovate, equip, enlarge, or operate a new baseball stadium within the City of Knoxville or Knox County.” Allow the debates over what counts as “taxpayer funding” to commence now!
  • If you want to work at F.C. Cincinnati‘s new stadium, they’re hiring! What about all the people who worked at the team’s old stadium, which actually averaged more fans per game than the new one will hold? Sorry, no room in the article for that!
  • The owners of the New York Yankees have agreed to provide ten $5,000 grants to local businesses suffering amid the pandemic — wait, seriously, $50,000? That’s roughly how much the Yankees pay Gerrit Cole for each batter he faces. “We are extremely appreciative of this support from the Yankees,” local bar owner Joe Bastone said, according to a statement issued by the Yankees, which ended up getting a bunch of media coverage out of it, all of it positive. Until now.
Share this post:

One comment on “Thursday roundup: NBA mulls expansion to raise quick cash, 60-year-old community-owned team sold to local rich dude, Crew may seek more tax breaks somehow

  1. Tom Lehr’s statement is like the Odd Couple episode when Felix’s opera company loses Its money at a casino night fundraiser,but the guy who wins uses the money to pay a debt to Oscar, so Felix thinks the opera company gets its money back “ from us to him to you to me it’s like an isosceles triangle!”

Leave a Comment

Your email address will not be published. Required fields are marked *

*
*

798,527 Spambots Blocked by Simple Comments