Let's hope the new owner doesn't screw up ATL's team for whatever reason. Also, what the heck is 'arena debt' and why are they $120 million in it?
The new owner's wife is a d-list tv actress and her imdb entry has "Untitled NBA Project (TV Movie) (pre-production) 2015 Bonnie"
They do own operating rights to the Philips Arena, though. That's a pretty hefty revenue stream. Not all franchises have ownership or operating rights to downtown arenas, which includes all events, not just basketball.
Imagine if JSmoove and Dwight ever decided to bail out to play together for this new owner back in their home town?
Atlanta has potential. But you'd like to see a superstar there to bind the fanbase. In the end, doesn't matter, as the franchise will only go up in value.
Atlanta is a big city. 8th largest media market (Houston is #10). 9th largest MSA (Houston is #5). The most recent Forbes valuation for the Hawks was $825M. So, they were pretty dead on. But I have to think, given its size, that Atlanta has potential to substantially improve its earnings with good management. Forbes values the Rockets at $1.25B, and Dallas at $1.15B. That's where Atlanta should be at but they have half the operating income of those two.
It seems to me like NBA teams make less revenue than NFL teams but bad-to-mediocre NBA teams sell for more (proportionately) than their NFL counterparts. Is that accurate?
The Browns were bought in 2012 for $1B. The Jaguars sold that same year for $770 million. Dolphins, $1.1B in 2008. I don't know what proportions we're talking about but those are fairly high numbers for bad-to-mediocre NFL teams.
Damn that is dirt cheap for a city like Atlanta Why didn't anyone notify me that there was a sale going on? I would have definitely put my hand in it and I feel confident I would have been victorious. Oh well...
