Since inventing the Stern-o-meter a month or so ago, I've pointed out some of the inconsistencies that spill out of Stern's mouth like water from a leaky faucet. I've also used some financial figures to bolster my logistics. Some may think that I'm pulling data out of the air instead of using my state-of-the-fart invention. Well, no less a financial analysis giant than Forbes Magazine has weighed in on the matter. Mike Ozanian, sports money writer for Forbes even uses the sale of the Charlotte Bobcats to emphasize his point that Stern is lying through his teeth in order to better the ownership position in the CBA negotiations. You can check it out after the jump:
The title of the article speaks for itself.
Since this is not my data and research, I haven't fed it into the Stern-o-meter for analysis. However, I did want to point this article out to show that Stern's ludicrous comments are not being accepted by the experts, the money men, or basically anyone with a quarter of a brain - like yours truly.
The bottom line is, the more Stern perpetuates these lies, the more his words have the opposite effect. Instead of strengthening the tide of public opinion in the owner's favor, he's only exposing the NBA owners as a bunch of greedy corporate fatcats sipping brandy and sucking fat stogies while pretending they are on the verge of qualifying for food stamps.
I'm quite certain there are teams in the league losing money. I'm also aware that the Bobcats are amongst that number. However, any expansion team in professional sports can expect to operate in the red for the first 5 to 10 years of existence. The Charlotte Hornets were an extreme aberration akin to catching lightning in a bottle. The Bobcats, with one exception (year 3) have improved their financials in each consecutive year. This season, if ticket sales continue apace, they may come with in a million dollars either side of the break-even point. The slow start may mean that package sales will end up being less robust than forecast, but the 20% increase in ticket package prices will help offset any sales shortfall. Should the team go on a winning stretch, or return to the playoffs, the odds of finishing in the black will greatly improve. Sales at the newly remodelled team store are already strong enough that the timeframe for paying for the upgrades has shrunk almost in half.
In other words, Stern can continue to hold the Bobcats franchise up as an example of how teams are struggling if he wishes to, but he'll have to ignore a mountain of facts that prove otherwise. Memphis, Toronto, Detroit, and other teams might serve as a better example. Of course, one could easily hold up teams like the Clippers as proof that poor team performance does not necessarily equate to a ledger full of red ink.