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How secure are the Pelicans in NO?
Posted on 4/10/17 at 2:29 pm
Posted on 4/10/17 at 2:29 pm
On paper it would seem like we're among the least secure (perhaps the least secure) franchise in the league - Milwaukee, Detroit, and Sacto all getting new arenas. Not sure of Portland or Minny's arena status.
I haven't heard any rumblings lately but have to say when in NO recently I was pleasantly surprised at all the Pelicans gear I saw around town - way exceeded what I see in Milwaukee, Minneapolis, and Philadelphia when I travel there regularly. Also the Pellies were on TVs at a way higher clip than I remember even the CP3 era Hawnits being.
I haven't heard any rumblings lately but have to say when in NO recently I was pleasantly surprised at all the Pelicans gear I saw around town - way exceeded what I see in Milwaukee, Minneapolis, and Philadelphia when I travel there regularly. Also the Pellies were on TVs at a way higher clip than I remember even the CP3 era Hawnits being.
This post was edited on 4/10/17 at 2:31 pm
Posted on 4/10/17 at 2:47 pm to SirWinston
Pelicans are extremely secure. The Pelicans lease runs until 2024 and there are no escape clauses. Gayle Benson seemingly has no intention of moving the team and the NBA seems content having a franchise in New Orleans.
Posted on 4/10/17 at 2:49 pm to SirWinston
Thjis franchise is going nowhere in the foreseeable future. It was Sterm';s pet. That's why he wanted Benson as an owner. Silver won't allow anything to change.
This post was edited on 4/10/17 at 2:50 pm
Posted on 4/10/17 at 2:53 pm to SirWinston
We should rehash other worries from 2009 while we're at it, such as "Will we resign CP3?" and "Was the James Posey signing a bad idea?"
This post was edited on 4/10/17 at 2:59 pm
Posted on 4/10/17 at 3:08 pm to SirWinston
I would hope an arena less than 20 years old that has been constantly renovated wouldn't be an issue.
I would think they were very secure.
I would think they were very secure.
Posted on 4/10/17 at 3:10 pm to SirWinston
First, the national TV money is HUGE. In the bad old days when we thought the team was under constant threat of leaving, the players were taking 57% of $900 million leaving about $13 million for each team from the national TV deal. The new deal will average $2.66 Billion per year and the players cut is down to 51% giving each team $43 million from the TV deal, an increase $30 million. So imagine the Shinn Hornets worst season and give them $30 million extra, do you think they'd need to leave to make ends meet? That's not even taking increased revenue sharing and franchise valuations into account.
I was going to make other points like Benson supposedly bought the team for they synergy with his other properties, not to mention having 2 teams gives him more leverage when negotiating with the state/city, but I think I'll just leave it at the TV deal. That's a lot of extra money to put your mind at ease.
I was going to make other points like Benson supposedly bought the team for they synergy with his other properties, not to mention having 2 teams gives him more leverage when negotiating with the state/city, but I think I'll just leave it at the TV deal. That's a lot of extra money to put your mind at ease.
Posted on 4/10/17 at 4:33 pm to TigerinATL
I hope everyone saying the team is safe here is right.
I personally have my concerns about all bets being off once Tom dies, but he could outlive me so I guess it's not something I should waste time and energy thinking about.
I personally have my concerns about all bets being off once Tom dies, but he could outlive me so I guess it's not something I should waste time and energy thinking about.
Posted on 4/10/17 at 4:44 pm to Number 31
I see 2 potential threats if Benson dies.
1) A Trust is running the team as a business for #businessreasons and gets an offer they can't refuse. If some ownership group offered $1 Billion or more, could a business trust really turn an offer like that down if their primary duty is making money? Hopefully Gayle is in charge or some directive to keep the team in town if it's profitable is written into the trust (or whatever you do with trusts to give them direction).
2) It's time for a new lease and the state is too cash strapped to provide much in the way of shakedown money to the NBA per usual. Local government not playing ball is definitely something that can cost you a franchise in this league.
1) A Trust is running the team as a business for #businessreasons and gets an offer they can't refuse. If some ownership group offered $1 Billion or more, could a business trust really turn an offer like that down if their primary duty is making money? Hopefully Gayle is in charge or some directive to keep the team in town if it's profitable is written into the trust (or whatever you do with trusts to give them direction).
2) It's time for a new lease and the state is too cash strapped to provide much in the way of shakedown money to the NBA per usual. Local government not playing ball is definitely something that can cost you a franchise in this league.
This post was edited on 4/10/17 at 4:45 pm
Posted on 4/10/17 at 4:58 pm to TigerinATL
quote:
If some ownership group offered $1 Billion or more, could a business trust really turn an offer like that down if their primary duty is making money?
hell no
nor should they
still have to apply to the league for relocation though
quote:
It's time for a new lease and the state is too cash strapped to provide much in the way of shakedown money to the NBA per usual
my understanding is that the deal for the city to lease benson tower is the only inducement currently. i could be wrong
Posted on 4/10/17 at 9:08 pm to SirWinston
To me the only threat is Seattle. I know the league wants a team there again. Would hope that after Tom passes that some group doesn't offer a ridiculous amount of money to Gayle and move them to Seattle.
Posted on 4/10/17 at 10:03 pm to Number 31
There is a plan in place for the Pels and the Saints, and neither are leaving.
Posted on 4/10/17 at 10:13 pm to GeauxTigers1983
Honestly I was pleasantly surprised looking at the attendance numbers:
LINK
24th overall but 16th as a percentage.
Seems to me maybe the Nets are the team that should get the old right there Fred.
No sense in gifting New York a second failing franchise when they can't even turn around the first one. And they are so bad they can't even sell out in New York.
LINK
24th overall but 16th as a percentage.
Seems to me maybe the Nets are the team that should get the old right there Fred.
No sense in gifting New York a second failing franchise when they can't even turn around the first one. And they are so bad they can't even sell out in New York.
Posted on 4/11/17 at 8:53 am to cgrand
There are a few mid sized usa cities without a team, most had a pro team before. If billionaire offers trust enough, they are gone. Pittsburgh has a decent tv market.
I will bet montreal for next nba franchise regardless of pels fate. Huge metro tv market.
Posted on 4/11/17 at 9:30 am to CelticDog
Considering the current talent I think the team is worth more than a billion if relocation were allowed.
I would hope the NBA would not allow the Pelicans organization to move anytime soon considering how cheaply they sold the team to Benson.
I would hope the NBA would not allow the Pelicans organization to move anytime soon considering how cheaply they sold the team to Benson.
Posted on 4/11/17 at 10:01 am to CelticDog
quote:
I will bet montreal for next nba franchise regardless of pels fate. Huge metro tv market.
Louisville
Posted on 4/11/17 at 12:16 pm to CelticDog
quote:
If billionaire offers trust enough, they are gone.
The estate planning for Tom Benson is pretty complex, but I don't know that a trust will be used for Gayle unless it is to direct where the team goes after she passes in which case she will be the trustee. The tax benefits of the trust are for estate taxes when passing to sons/daughters.
I am pretty certain that the trustee if any would not be able to sell the Pelicans without Gayle's approval. I know that the NFL would not allow a trust to be set up in a way that gives the trustee the power of alienation without the beneficiary's consent.
Posted on 4/11/17 at 1:24 pm to SirWinston
Didn't the Jamal Mashburn group who wanted the Hornets said they would keep the team here also?
And why not sell it to the state kinda like what the Packers done and citizens can be honorary shareholders
And why not sell it to the state kinda like what the Packers done and citizens can be honorary shareholders
Posted on 4/11/17 at 2:22 pm to karralum
quote:
And why not sell it to the state kinda like what the Packers done and citizens can be honorary shareholders
NBA owners wouldn't approve that. NFL bans that now. Packers will likely always be the only publicly owned team in the US.
Posted on 4/11/17 at 4:23 pm to SirWinston
I dont understand why everyone is so confident. I wonder if these people go to the games and see the crowds or live in the city and hear the lack of hype surrounding this team. Or the lack of promotion by the team locally. Or the fact that the top 15 selling jerseys came out today and Anthony Davis is no where to be found. That is alarming to me. Dude's a top 6-7 player and no one knows who he is.
This teams needs to win, and win with Anthony Davis. Im not sure they can endure another rebuild where they have to trade off their best player to start over again. Which is why this regime needed to be gone yesterday. The same people that think they are secure are the same ones with blind faith in what we have going on right now.
This teams needs to win, and win with Anthony Davis. Im not sure they can endure another rebuild where they have to trade off their best player to start over again. Which is why this regime needed to be gone yesterday. The same people that think they are secure are the same ones with blind faith in what we have going on right now.
Posted on 4/11/17 at 4:39 pm to Lester Earl
quote:
The same people that think they are secure are the same ones with blind faith in what we have going on right now.
Blind faith? I think all of us acknowledge that the FO is a dumpster fire and the HC is not good. I don't want Gentry fired this season because I don't trust Demps to pick a coach that won't end disastrously yet give Demps more job security in the process. That's how much "faith" I have in them.
But they have 2 superstar talents now, and not just 2 random superstars, AD/DC are friends off the court and they see the potential to be something special. If they both resign/extend in the summer of 2018 it almost doesn't matter who the GM/HC are. Talent trumps all in the NBA. The odds of the Pels keeping AD long term are significantly better today than they were 2 months ago.
IIRC you have your doubts about Cousins so you may not agree how he helps the situation. But it doesn't matter what you think or what I think. It matters what AD thinks and so far he seems to like it.
This post was edited on 4/11/17 at 4:40 pm
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