Canzano says Blazers being prepared for auction

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OneSport3 said:
Ask Phoenix Suns fans if they think Robert Sarver is a winner.
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He made enough money to own an NBA team, in that sense, he is. Is he within the NBA tho? Nope. And I suspect the same would be true for any Larry Ellison team.
 
illmatic99 said:
Ellison would be amazing in my mind. Dude REALLY wants an NBA team, and really got screwed out of the Warriors deal. I think he'd be someone like Balmer. And I really like the idea of single owner rather than multiple people owning minority stakes.

I have no idea about anything re: Scott, outside of her separation from Bezos. Surprised to even get a whiff of her being potentially interested in an NBA team.
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Larry Ellison is MAGA, and so is Oracle for the most part.

https://www.washingtonpost.com/politics/2022/05/20/larry-ellison-oracle-trump-election-challenges/
 
AldoTrapani said:
I don’t understand why the Knight family doesn’t want to buy it. He literally made his money off sports and we all know nba franchises jump crazy in valuation on the yearly. At the very least he owns it just for the fuck of it as one of his toys. Shit is literally dirt cheap to him.
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I still don’t get why the Knights don’t buy the Blazers as one of their many toys
 
andalusian said:
Other than plotting to overturn the recent elections, his company is one that I have seen work hard to ruin competitors and customers alike over the years in ways that make Microsoft and Facebook look like a bunch of choir boys.
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oh damn. NVM. i take back my interest in Ellison.

(i legit don't follow political news anymore, sorry for living under a rock).
 
SlyPokerDog said:
Zero.

The NBA wants to expand the league.

There is no financial reason to move the Blazers.
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Zero? St Louis, KC, Louisville, Nashville….more are all wanting teams. If an owner like Clay Bennett, with strong ties to a certain city buys them, why not?
 
Mediocre Man said:
Zero? St Louis, KC, Louisville, Nashville….more are all wanting teams. If an owner like Clay Bennett, with strong ties to a certain city buys them, why not?
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Because Clay used the fact that the Sonics played in a shit arena and there was no political will to build a new one. The Moda has been very very well maintained. The Blazers are profitable in Portland. There is no financial reason to move the Blazers.

Also, any future expansion will include some sort of realignment of the teams. Portland is needed for future expansion into Seattle, Vegas, and potentially Vancouver BC again.
 
AldoTrapani said:
More money nba valuations every year are crazy
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While the Blazers no longer lose money they don't make a ton of it every season. It doesn't really matter how much the valuations go up every year, you don't get that until you sell the team.
 
SlyPokerDog said:
While the Blazers no longer lose money they don't make a ton of it every season. It doesn't really matter how much the valuations go up every year, you don't get that until you sell the team.
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Yea good point but still thought long term just to have it for civic pride and eventually cash in on it would have been smart
 
SlyPokerDog said:
Because Clay used the fact that the Sonics played in a shit arena and there was no political will to build a new one. The Moda has been very very well maintained. The Blazers are profitable in Portland. There is no financial reason to move the Blazers.

Also, any future expansion will include some sort of realignment of the teams. Portland is needed for future expansion into Seattle, Vegas, and potentially Vancouver BC again.
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Our lease is about to expire. A new owner could use that. Not saying it will happen, but zero?
 
SlyPokerDog said:
Also Nike would have to stop offering NBA players shoe deals if they were to own a team. Talk about an easy way to circumnavigate the salary cap, lol.
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Jordan Brand has a ton of players. He didn't have to stop offering shoe deals when he bought the Hornets.
 
Mediocre Man said:
So what’s the lease on the Rose Garden?
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Allen signed 30-year pact declaring team can't move
A legal document signed by Paul Allen prohibits him from relocating the Trail Blazers to another city while he owns the NBA franchise. If he sells the team, Allen agreed to make sure the new owner would be bound by the same conditions.

Under a 30-year 'exclusive site agreement' with the city of Portland that went into effect June 23, 1993, Allen promised to keep the Blazers in Portland.

The 18-page document is signed by Allen and then-Mayor Vera Katz, among others. Parties to the agreement include Allen, the city of Portland and Trail Blazers Inc.

Three weeks ago, Allen's representatives made public a plea to city, county and state officials for financial support for the Blazers through a proposed 'public-private partnership' to help fix a 'broken financial model.' A representative said then that the NBA club stands to lose $100 million over the next three years.

In meetings with local government officials, Allen's representatives have not been specific about what sort of form that partnership could take. But there have been veiled references to Portland's somehow losing its NBA team. In fact, in a posting on the Trail Blazer Web site last weekend, in a 'Conversation with Paul Allen,' the owner broached the possibility of the team's moving:

'I want the team to stay in Portland,' he wrote. 'If this all ends up in the courts, or someone buys the team and moves it, it would be a shame.'

But the 'Exclusive Site Agreement' would seem to make that impossible.

Portland Mayor Tom Potter was unavailable for comment. His press aide, John Doussard, said Potter 'is aware of the document. I don't know he has read it. We know the document exists and know what it says. I have seen the document. (But) Paul Allen has not called us up and talked about moving the team.'

Under terms of the 1993 document Ñ signed more than two years before the Rose Garden opened Ñ moving the Blazers would be a costly proposition for the world's sixth-richest man. Allen's personal liability is limited to Sections 3.4, 3.5 and 3.7, which deal with transfer of ownership of the team. In signing, Allen agreed that a franchise move to another city would result in paying damages to the city of Portland.

'In the event of a breach of this agreement by TBI (Trail Blazers Inc.) or Allen,' Section 4 begins, 'the city will suffer both damages compensable by the payment of money, and damages (that) will not be compensable by money and É will be irreparable.'

If that happened, the city could ask for a judge to issue an injunction to prevent Allen from selling or moving the club until its legality was decided in a court of law.

The document stipulates that a purchaser of the Blazers would 'agree É without modification or qualification, with the covenants and restrictions applicable to Allen set forth in this agreement.'

A legal opinion obtained by the Portland Tribune suggests that the agreement is unusually strong on the side of the city, which would be the third-party beneficiary for any breach of contract.

Even if Trail Blazers Inc. were to file for bankruptcy, the party assuming ownership of the club would be responsible under Section 3.2, which reads, 'In the event of the liquidation or dissolution of TBI, the covenants and restrictions É set forth in this agreement shall be binding upon the shareholders of TBI or any other distributee of the franchise and related assets and properties of TBI.'

Blazer team President Steve Patterson and J. Isaac, the team's senior vice president of business affairs, referred questions to Andy Brimmer, communications director for Vulcan Capital, Allen's private investment group.

'As we said yesterday, both Vulcan and the city expressed a common goal of keeping the franchise in Portland,' Brimmer said in an e-mail. 'However, in the ongoing discussions, we decline further comment.'

https://pamplinmedia.com/pt/9-news/97715-tough-city-contract-keeps-grip-on-blazers?jr=on
 
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