NJ all over B.S. economic prev. Awaiting NetIncomes rebuttal

[mb4th]

ESPN.com

Interesting/Depressing stuff

[NetIncome]

and no link

[jirohkanzaki]

...and still no link...

[ly_yng]

[NetIncome]

http://sports.espn.go.com/espn/page2/st ... ons/090227

So I read it. There are no surprises here. The economy is going to affect all professional and college sports (those suites at arenas and stadiums help fund the programs). Moreover, a lengthy recession (or worse) plus a restructuring of wealth in this country (it's coming) will change the dynamics of ownership. Owners were content with losses--and most NBA teams lost money LAST year--because there was always some other rich guy who would buy your team down the road at a tidy profit for you. A Ponzi scheme of sorts. Well, you can forget that.

So who loses? The players lose big time. The NBA contract has long been the best player contract in professional sports because contracts are guaranteed. Stephon Marbury was paid $21 million for not playing! Jamal Tinsley was paid $7 million and is owed another $15 million and there are no prospects for him to play! What isn't part of Simmons is this: in an economy with more than 10% unemployed and the other 90% living in fear of joining them, there will be no support, no constituency for guys demanding more millions to bounce a ball. A long lockout will lead to an even longer period of disillusion than the one ten years ago. (Remember the star who helped save the league after the lockout? the star who the LEAGUE cast as the next Michael Jordan? He IS Vince Carter.)

Teams will move. If by Sunday, the kings cant reach a deal with Sacramento on a new arena, they may file papers for a move to either San Jose or Anaheim (I wonder how the Warriors, Laker and Clippers are going to react to another competitor within an hours drive. Not well, I suspect.)

As for the Nets, it all depends on when Ratner can move ahead. If he breaks ground, and can get financing--he is confident he can--then the Nets will play in Brooklyn. The delay could even work in his favor, in a pollyannish sort of way. The deep dive in construction costs across the board, the toning down of the project's most outrageous aspects--all that curving glass, the desire by city officials to push big projects...could help him. If he can't, then he will be looking to sell. He has to. Who buys? Who knows? Would it be a fire sale? Probably. Before then, you would see the team start selling high priced assets (He IS Vince Carter) and worse.

But bottom line, I think you should care less about how this is going to affect your favorite team and worry more about how this is going to affect your favorite family. There isn't a Net player or owner who is in danger of going broke.

[Universe]

I just did a presentation on this. If you count a basketball game as a two hour working event, Jason Kidd makes $150,000 per hour. Rediculous amount of money.

[MyNetsForLife]

I just did a presentation on this. If you count a basketball game as a two hour working event, Jason Kidd makes $150,000 per hour. Rediculous amount of money.

Why doesn't practice count?

[NetIncome]

of off season workouts or community events.

[Universe]

That is why I WROTE "If you count a basketball game as a two hour working event".

[demens]

it wouldnt be the end of the world if nba players got pay cuts. not saying they should be making as much as doctors or lawyers, they deserve much more then that, but there is plenty of room in between.

its not even the big superstar paychecks that get to me. its guys like mo ager with his million $ contract. ok, he managed to get drafted, even the undrafted, 10-day contract type guys still get 200-400k. thats insane.

[NetIncome]

I never dis doctors making big bucks. In addition to the good they do, on a daily basis they have to tell people horrible news.

[MyNetsForLife]

I just did a presentation on this. If you count a basketball game as a two hour working event, Jason Kidd makes $150,000 per hour. Rediculous amount of money.

But why would you only write that? He does more than that.

[Real]

It's the right thing to do for the league to borrow the money to help it's teams. Yeah it's somewhat of a gamble, because nobody knows when this is going to end. You have the Chairman of the Federal Reserve telling people that the recession could end by the end of the year (yeah I know I don't really take that seriously either), and others saying this will drag on for years. If by some way the former happens, than the league can probably make that money up easily. In any case, I don't think anyone here is going to make the argument that the league will go under.

As for the Kings moving out of Sacramento, http://www.msnbc.msn.com/id/29429488/

[Universe]

But why would you only write that? He does more than that.

He doesn't actually play two hours for a game, it was merely the length of a game. I was just stating.

If you include the practises and everything else, he's still making $30,000 up per hour. I wouldn't count specail events as pay considering I do community service and I don't ask to get paid. No matter how you look at it, it's rediculous how entertainment can make so much money but it'll never change it.

[nets1]

when you are the best in the world at what you do you are allowed to charge what the market will bare. If the players were paid less the owners would make more. Do you think the owners would drop the price of tickets or parking? I don't...

[demens]

maybe a little. i'm sure players wont get their pay cut in half, so i wouldnt expect a 50% change in the ticket prices. but there is room for 10% change.

[Nets4Life]

[ http://giblar.com/games/click/link%20windwaker.JPG ]

LINK IS AWESOME!!!

Anyway, economics is already affecting our franchise, it started with the Rat's purchase of our team, and now that the economy as a whole stinks, our frugality will increase even more. It the sole reason why there is so much vacillation over what to do with VC. Sign him to an overpriced contract one year, keep him as part of a "nucleus" over RJ the next year, and shop him like there is no tomorrow the next year.

Players (& agents) and owners fight over this because each party wants to increase their salaries. Its fine, but in a bad economy like ours, everyone has to give a little. The sad part is that we could see an extended lockout since there will be some significant changes that one/both parties don't want, but will need to be made in order for the NBA to stay in business.

[Dirt McGirt]

I just did a presentation on this. If you count a basketball game as a two hour working event, Jason Kidd makes $150,000 per hour. Rediculous amount of money.

So what? In a capitalist system, people are paid according to their market value. It works much better that way than centrally planning the economy, which is what we are getting closer to every day.

[Universe]

So what? In a capitalist system, people are paid according to their market value. It works much better that way than centrally planning the economy, which is what we are getting closer to every day.

Whose market value is 150,000 per hour?

[Dirt McGirt]

Whose market value is 150,000 per hour?

Clearly, anyone who is getting paid that amount. That's why it's called "market value."