Five NBA Teams That Could Be Yours for the Right Price




nba logoMore and more chatter out there about NBA teams that are for sale - publicly or quietly. The Sonics sold recently for $350M to a group of Oklahoma City businessman lead by Clay Bennett.

Will there be other NBA teams for sale? Here's a list of NBA teams that could be sold in the not too distant future:

1.) Portland Trail Blazers - Despite rumors that current owner Paul Allen is going to buy back the Rose Garden and reunite the revenue streams from the team and the arena, expect the Blazers (and their arena, the Rose Garden) to be sold. NBA Commissioner David Stern has opened the team's financial books for 15 potential owners to examine. Of those 15 groups, maybe half will want to continue their pursuit of the team. Stern and company will then develop a short list of 2-3 potential owners and will then begin a thorough investigation in to these groups to make sure they would make good owners for his league. These investigations/background checks take place before any team is sold. At the beginning of the offseason, Stern had hoped to identify a buyer for the Blazers before the 2006-07 season. This would also allow him to put the sale to a vote in front of the Board of Governors (other NBA owners) in October at their annual meeting (the Sonics sale is expected to be approved at this meeting).

Sources I've spoken with tell me unless Stern fast tracks this process, the Blazers won't be in the hands of new owners at the start of the upcoming season. Too many financial statements for lawyers to review and the NBA's investigation process will likely not be completed by the start of the season.

One more note to all of those who think current owner Paul Allen will buy the arena back. Commissioner Stern does not like to waste time. His time, or anyone else's time. He would not be going through the lengthy process of identifying and investigating potential owners for a Blazers/Rose Garden sale if he thought Paul Allen was going to purchase the arena and take the team off the market.

ASKING PRICE: $350M minimum

2.) Philadelphia 76ers - Lots of talk surfacing this week that the 76ers are for sale including a report in yesterday's Boston Globe. The 76ers are owned by Comcast-Spectacor, which also owns the NHL's Philadelphia Flyers, the AHL Phantoms, three minor league baseball teams, the Wachovia Center and Spectrum, and Comcast SportsNet. No word on whether the 76ers would be sold alone or as part of a package with the other Comcast-Spectacor sports properties.

ASKING PRICE: $350 - $400M as a stand alone sale/North of $1B if the 76ers sell as part of a package with the other Comcast-Spectacor sports properties.

3.) Memphis Grizzlies - Owner Michael Heisley is quietly look for a buyer for his franchise. The team does not own its arena so this would be a team only sale. Heisley is disappointed with his returns in Memphis where fan support and sponsor support has been lukewarm at best. Heisley is paying GM Jerry West and Head Coach Mike Fratello very handsomely and so far those investments have not produced more than a 1st round exit from the NBA Playoffs.

Dr. Henry Samueli, who owns the Honda Center (formerly The Pond) in Anaheim, would love to heist an NBA team and move them to his arena in Anaheim. He's watching this situation closely and would love to get Jerry West and company to Southern California. Samueli is a HUGE fan of the NBA and has deep pockets - he will get his NBA team at some point. Whether the Grizzles are that team remains to be seen.

It will be a tough task to get the Grizzlies out of Memphis for anyone though. In the year 2012, there could be a way out of town if attendance, club seat sales and suite sales drops below a certain level and the City of Memphis chooses not to make up the difference. Not likely though as the City does not want to be left with a white elephant that has long-term debt to the City, so they would probably make up the difference.  The Grizzlies also have to pay a penalty to the City which would likely be over $100M if they try to leave before 2012. 

ASKING PRICE: $360M would get a deal done with Heisley.

4.) Orlando Magic - The Magic and owner Rich DeVos desperately want a new arena. The team has four one-year options remaining on its current lease deal with the TD Waterhouse Centre. The arena, built in 1989, is totally outdated, with suite near the arena's ceiling. Half are unsold. DeVos made a big push for a new arena in 2001 and got nowhere. If he doesn't get a new arena for his team in the near future, he'll be open to selling the team. With strong roots in Florida, I can't see DeVos relocating the team, but a new owner may try to get the Magic out of Orlando.

DeVos, who bought the team for $85 million in 1991, is in the process of transferring ownership to his children, and his son-in-law, Bob Vander Weide, will have control.

ASKING PRICE: $300-$350M

5.) Milwaukee Bucks - Owner Herb Kohl has quietly had the team for sale for the past few years. In 2003 Kohl was very close to a deal with a group led by Michael Jordan and then got cold feet. If the right offer comes along now, Kohl will gladly sell the team.

ASKING PRICE: $275-$300M

Keep your eyes and ears open here. With guys out there like Dr. Henry Samueli and Oracle founder Larry Ellison looking for an NBA franchise, NBA Commissioner Stern is bound to be a busy deal broker.

nba on move

what would it take to get memphis to another city if money was not an issue can it be done?

for sale

Do you have a new list nba franchise for sale.

Thanks

How would the transition of

How would the transition of the Portland Trail Blazers impact the economy of Portland?

Buying a Pro Basketball team

I am wondering how to buy a pro basketball team. Because maybe I could get enough money to buy a pro basketball team for the state of South Caronlina. Like if how would I make an offer to the team owners. I want to try and round together enough money to buy the cheapest basketball team on the market.

NBA TEAM

If you are serious email me back and I will connect you with a one of my clients who is heading a group of investors..

NBA Team Is For Sale

This a private sale. Team value $350M, selling for $270M + 3%. Name of team CANNOT be given without protocol. Confiditionality Agreement and group Fee Agreement. These will be submitted to attorney. He will contact Buyer/Buyer group after these are recieved to let them know who LOI is made out to. Then name of team will be released. Contact me if you have any interest or any leads we can make this happen! This is the real deal "opportunity knocking" Hill Investment Co., LLC phone: 574-386-9309

Post new comment

The content of this field is kept private and will not be shown publicly.
Captcha
This question is used to make sure you are a human visitor and to prevent spam submissions.
Copy the characters (respecting upper/lower case) from the image.