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Old 07-02-2009, 05:54 AM   #1
RainierBeachPoet
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Default Judge gives suit by Sonics fans class-action status

http://seattletimes.nwsource.com/htm...02_soni02.html


Breach-of-contract suit could cost Clay Bennett's ownership group as much as $7 million if it loses

Federal Judge Richard Jones certified a class-action lawsuit Wednesday on behalf of three former Sonics season-ticket holders who are claiming the team breached a contract when it moved to Oklahoma City and didn't allow them to repurchase tickets.
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Old 07-02-2009, 08:49 AM   #2
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Default Re: Judge gives suit by Sonics fans class-action status

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Originally Posted by RainierBeachPoet
http://seattletimes.nwsource.com/htm...02_soni02.html


Breach-of-contract suit could cost Clay Bennett's ownership group as much as $7 million if it loses

Federal Judge Richard Jones certified a class-action lawsuit Wednesday on behalf of three former Sonics season-ticket holders who are claiming the team breached a contract when it moved to Oklahoma City and didn't allow them to repurchase tickets.

I hope it works out. I hate when teams move. It's gonna happen, but when it does it should be financially painful for the owners.

Hey RBP, what's the latest on getting a team in Seattle?
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Old 07-02-2009, 09:47 AM   #3
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Default Re: Judge gives suit by Sonics fans class-action status

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Originally Posted by rufuspaul
I hope it works out. I hate when teams move. It's gonna happen, but when it does it should be financially painful for the owners.

Hey RBP, what's the latest on getting a team in Seattle?

the sticking point has always been what type of arena the sonics owner wanted and that the public should pay for it. it was argued that the key arena was outdated and a new or refurbished key-- with plenty of corporate boxes-- were needed

but lo and behold check this out:

KeyArena will be profitable for the first time in nearly a decade because last year's $45 million settlement with the Sonics that allowed the team to relocate enabled the city to pay off KeyArena's $34 million debt from the previous remodel.

http://seattletimes.nwsource.com/htm...eyarena01.html

how i interpret this is: the city of seattle is doing better financially because the sonics are gone and arent having a gun held to the head of the mayor/city council to give corporate welfare to guys like howard shultz and clay bennett

so, unless private investors and/or one of the suburban cities steps forward to build a brand new arena that caters to possible owners who want to bring an nba organization from a faltering city, it will be a LONG time until seattle has the sonics back
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Old 07-02-2009, 10:25 AM   #4
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Default Re: Judge gives suit by Sonics fans class-action status

Quote:
Originally Posted by RainierBeachPoet
the sticking point has always been what type of arena the sonics owner wanted and that the public should pay for it. it was argued that the key arena was outdated and a new or refurbished key-- with plenty of corporate boxes-- were needed

but lo and behold check this out:

KeyArena will be profitable for the first time in nearly a decade because last year's $45 million settlement with the Sonics that allowed the team to relocate enabled the city to pay off KeyArena's $34 million debt from the previous remodel.

http://seattletimes.nwsource.com/htm...eyarena01.html

how i interpret this is: the city of seattle is doing better financially because the sonics are gone and arent having a gun held to the head of the mayor/city council to give corporate welfare to guys like howard shultz and clay bennett

so, unless private investors and/or one of the suburban cities steps forward to build a brand new arena that caters to possible owners who want to bring an nba organization from a faltering city, it will be a LONG time until seattle has the sonics back
The establishments around the key need to realize how much of a benefit it would be for them to bring a team back to benefit their profitability. I'm pretty sure the tax payers would agree to pay some amount but not as large as the previous one. At the end it's the owners who benefit the most and should pay the largest chunk, then private investors/ benefit dinners etc and then maybe the public.
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Old 07-02-2009, 11:24 AM   #5
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Default Re: Judge gives suit by Sonics fans class-action status

Quote:
Originally Posted by d-_-b
The establishments around the key need to realize how much of a benefit it would be for them to bring a team back to benefit their profitability. I'm pretty sure the tax payers would agree to pay some amount but not as large as the previous one. At the end it's the owners who benefit the most and should pay the largest chunk, then private investors/ benefit dinners etc and then maybe the public.

of course the businesses that catered to the sports crowds have lost.

it seems that it is a growing trend for larger cities to push for this mixture of private/public funds. that is what scares me-- if stern works for the nba owners and they want to maximize their investment into a team, the nba will always have more negotiating power in these smaller markets such as okc that long for an nba franchise and will put up the public money to give the owner what he wants in order to get and keep a franchise

it is also a matter of timing. a city will more easily support a team coming off a great year than one that sucks
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Old 07-02-2009, 01:56 PM   #6
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Default Re: Judge gives suit by Sonics fans class-action status

Quote:
Originally Posted by RainierBeachPoet
of course the businesses that catered to the sports crowds have lost.

it seems that it is a growing trend for larger cities to push for this mixture of private/public funds. that is what scares me-- if stern works for the nba owners and they want to maximize their investment into a team, the nba will always have more negotiating power in these smaller markets such as okc that long for an nba franchise and will put up the public money to give the owner what he wants in order to get and keep a franchise

it is also a matter of timing. a city will more easily support a team coming off a great year than one that sucks
Another fact, when they cleaned up MLK just because the train was going to pass through it to take tourists to downtown then to BC for the Olympics, wtf that gets approved but the updating the key had such opposition. In effect both cost the gov't a lot and I doubt Sound Transit payed close to their share.
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