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Old 05-23-2009, 07:39 AM   #6
~spectre~
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Default Re: Bobcats for sale?

It's possible they could be moved...if a new owner is willing to kick out about a half a billion bucks to do it.

200 million penalty if they move before 2010; after that it's prorated for like the next 20 years down to 150 million.

No potential owner would buy the team with that in mind when they could just buy a team like Memphis, Jersey or the Bucks and move them without any penalties.

Edit:

I'm off on that. I was getting my info from a previous Observer article, but per their attorney:

Quote:
Q: Can the team leave?
A: No. The city may seek an injunction to force the team to honor the commitment to play here, or can enforce liquidated damages of $200,000,000 in the first 5 years (2005-2010), $150,000,000 in years 5 – 10, and a declining balance going from $85,000,000 in year 11 down to $7,000,000 in year 25.

http://obspapertrail.blogspot.com/20...charlotte.html

Last edited by ~spectre~ : 05-23-2009 at 07:47 AM.
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