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[MyFox Memphis] City of Memphis suing NBA over Lockout
Tags:  2012, action, basketball, lockout, memphis, nba, taxpayers Tags
ascaptjack is offline Old 10-18-2011, 07:12 PM   #1
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http://www.myfoxmemphis.com/dpp/news...t-mfo-20111018

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MEMPHIS, Tenn. - The city of Memphis is considering getting involved in the NBA owners' lockout of the players. Memphis taxpayers stand to lose a lot of money if game revenue doesn't come in to pay off the bonds used to build the FedExForum.

Early estimates show the taxpayers could be on the hook for $18 million if the entire season is cancelled.

With the first two weeks of regular season games already cancelled, the city says it wants to stay proactive. At the suggestion of Chairman Myron Lowry, the council is considering a resolution that would ask City Council Attorney Allan Wade to explore all options, including a lawsuit against the NBA.

Wade says this is the first city he's heard of considering this type of action. "If it gets to be half a season that's a big problem. If that thing sits idle for a whole season that's a big problem," he said. "I think that goes against the spirit of our agreement because our arena is built with revenue, not guaranteed money."

Lowry added, "I want the citizens of Memphis to know that we are not sitting by idly, waiting for this to hit us and for us to say we're sorry."

The resulotion passed by an 8-3 council vote Tuesday night.

The resolution states:

WHEREAS, the National Basketball Association (NBA) has suspended the first two (2) weeks of the 2011-2012 NBA season; and

WHEREAS, bond indebtedness issued by the Sports Authority is payable from certain revenues generated from NBA games; and

WHEREAS, the City of Memphis and Shelby County agreed to replenish the debt service reserve fund for the bonds should it ever become inadequate; and

WHEREAS, the cancellation of games will cause a loss is revenues available for debt service which may necessitate the appropriation of public revenues to cover the shortfall.

NOW, THEREFORE BE IT RESOLVED, that the Council requests its attorney to explore all options for recovery of lost revenues and to take steps to recover such revenue, if necessary.
 
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Spooner is online now Old 10-18-2011, 07:30 PM   #2
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If Kevin Garnett is serious about "holding the line" for the future, maybe he should just give his paycheck to Memphis. It would come out about even....

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coachbadlee is offline Old 10-18-2011, 09:28 PM   #3
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Other cities with similar arguments( if there are any ) should threaten to do the same.
 
emcitymisfit is offline Old 10-18-2011, 10:51 PM   #4
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Just film more The First 48's.

I'm sure Peanut shot pookie and will be ratted out by Tay-tay to Det Caroline Mason sometime in the next few days.

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AstroRocket is offline Old 10-18-2011, 11:57 PM   #5
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lol Yeah Memphis, lets litigate these a-holes back onto the court. I'm up for anything.

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Carl Herrera is offline Old 10-18-2011, 11:59 PM   #6
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Memphis no deserve basketball team, they too poor.
 
Htown's2kFinest is offline Old 10-19-2011, 12:17 AM   #7
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can they give us rudy gay back?...

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ascaptjack is offline Old 10-19-2011, 12:29 AM   #8
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Quote:
Originally Posted by Htown's2kFinest View Post
can they give us rudy gay back?...
Rudy Gay for Kevin Martin and Terrance Williams.
 
coachbadlee is offline Old 10-19-2011, 12:34 AM   #9
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Quote:
Originally Posted by ascaptjack View Post
Rudy Gay for Kevin Martin and Terrance Williams.
You're kidding of course.
 
ascaptjack is offline Old 10-19-2011, 12:38 AM   #10
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Originally Posted by coachbadlee View Post
You're kidding of course.
Rudy Gay would solve our SF issues and Lee has proven to be starting material.

I'd rather have Lowry/Lee/Gay/Scola/Hayes with Dragic/Budinger/Morris/Patterson/Hill coming off the bench than Lowry/Martin/Budinger/Scola/Hayes.

Rudy Gay > Kevin Martin.
 
coachbadlee is offline Old 10-19-2011, 12:42 AM   #11
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Quote:
Originally Posted by ascaptjack View Post
Rudy Gay would solve our SF issues and Lee has proven to be starting material.

I'd rather have Lowry/Lee/Gay/Scola/Hayes with Dragic/Budinger/Morris/Patterson/Hill coming off the bench than Lowry/Martin/Budinger/Scola/Hayes.

Rudy Gay > Kevin Martin.
Please, stop. You would be giving up too much for Rudy Gay. It doesn't matter who or who can't start.
 
ascaptjack is offline Old 10-19-2011, 12:47 AM   #12
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Quote:
Originally Posted by coachbadlee View Post
Please, stop. You would be giving up too much for Rudy Gay. It doesn't matter who or who can't start.
Rudy Gay is arguably one of the best SF's in the league. I'd put only LeBron, Durant and Carmelo over him.

Kevin Martin isn't even a top 5 SG. Williams is a throw in for SF depth for them. He sucks and we need to get them back for sending us their 2009 bust, so its natural we send them ours.
 
Spooner is online now Old 10-19-2011, 12:52 AM   #13
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Quote:
Originally Posted by coachbadlee View Post
Please, stop. You would be giving up too much for Rudy Gay. It doesn't matter who or who can't start.
How is that giving up to much?

In all honesty I seriously doubt Memphis would accept that proposal anyway.

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what is offline Old 10-19-2011, 12:55 AM   #14
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Rudy Gay is one of the most underrated players in the league. Probably only Kevin Love has a worse image as a superstar among fans of the game.

Gay has made both KD and Lebron look silly many times at the end of games. But he is still perceived as a defensive liability, which he isn't. Also, he has a floater reputation which is also not fair since everything the grizzlies do is predicated on an inside out game.

Gay pretty much can get anything he wants at the end of games and that's why more often than not, you look up and the next thing you know Gay is hitting a game winner, or making a defensive stop and you think its luck, but it isn't. It's the way gay plays.
 
Ricksmith is offline Old 10-19-2011, 12:57 AM   #15
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We should start a Gay riot. Occupy Toyota Center.

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coachbadlee is offline Old 10-19-2011, 12:57 AM   #16
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Quote:
Originally Posted by Spooner View Post
How is that giving up to much?

In all honesty I seriously doubt Memphis would accept that proposal anyway.
First of all, giving up our leading scorer. Second, giving up a soon to be beast of a Rocket. I don't think Rudy Gay is worth that. People need to get off that Terrence Williams is a bust nonsense. He's a dumbass, not a bust.
 
Spooner is online now Old 10-19-2011, 01:00 AM   #17
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Quote:
Originally Posted by coachbadlee View Post
First of all, giving up our leading scorer. Second, giving up a soon to be beast of a Rocket. I don't think Rudy Gay is worth that. People need to get off that Terrence Williams is a bust nonsense. He's a dumbass, not a bust.
I never said Terrence was a bust. Actually, I am quite excited to have him here with a new coaching staff. Having said that, I think you are severely undervaluing Rudy Gay.

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JuanValdez is offline Old 10-19-2011, 10:10 AM   #18
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I seriously doubt Memphis could win a lawsuit. Everybody knew this lockout was coming. I'm sure the NBA made sure they were protected in the case of a lockout. Unless there is language in their contract that addresses it, I don't see how the city can hang this on the NBA. They agreed to fund from revenues.

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MadMax is offline Old 10-19-2011, 11:05 AM   #19
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Quote:
Originally Posted by JuanValdez View Post
I seriously doubt Memphis could win a lawsuit. Everybody knew this lockout was coming. I'm sure the NBA made sure they were protected in the case of a lockout. Unless there is language in their contract that addresses it, I don't see how the city can hang this on the NBA. They agreed to fund from revenues.
I would be shocked if there's not something in the deal between the franchise and the city that addresses this issue directly.
 
Pizza_Da_Hut is online now Old 10-19-2011, 02:51 PM   #20
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A clutchfans mention, woot woot!

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As the first commenter at ClutchFans noted following the posting of this article at the site, "If Kevin Garnett(notes) is serious about "holding the line" for the future, maybe he should just give his paycheck to Memphis. It would come out about even..."
http://sports.yahoo.com/nba/blog/bal...urn=nba-wp9506

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