95 Theses on Lockout

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31. Our concern lays with those "small-cap" teams: the Charlottes, the Sacramentos, the New Orleanses. In order to remain solvent and, in the Hornets' case, competitive, these teams have stretched to their debt limits. According to the leaked Hornets' audits posted by Deadspin in December 2010, in 2009 the team had $111 million in debt and its primary holding company -- Shinn Enterprises -- had $35 million in debt. The interest payments on the $111 million came out to almost $9 million annually. That would have made Debt To JPMorgan Chase the third most expensive player on the roster, behind Chris Paul and Tyson Chandler. (Yes, JPMorgan Chase made more than David West that year. Another slight for the big man.)

...CONTRACTION

53. Insofar the NBA's suggestion to contract 1-2 teams for the purposes of better competitive balance and perhaps improved overall league finances has been an incredibly toothless threat aimed at inciting anger from fans and the players (who would lose 15-30 jobs from such a contraction), and whereas other than the league-owned Hornets no current owners would volunteer to shut down their team for less than $300 million (the price George Shinn took).

54. Whereas another $300 million, plus the sunken costs of the $300 million paid to Shinn represent substantial further losses to the NBA, and no obvious second contraction candidates comes to mind, it follows that it would be extraordinarily to sell the idea within the circle of owners itself.

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Yes, JPMorgan Chase made more than David West that year

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