Wow- Supersonics leaving Seattle.

[TripletDaddy]

Originally Posted by SeattleUte

But the way you keep glorifying this as an example of capitalism at work is really horse shit. Today I thought, we're subsidizing Kobe Bryant's $30 million salaray with taxpayer money, and paying peanuts to kids we send to Iraq and Afghanistan to get ripped apart. A crazy connection I know, but both professions are paid out of the public purse. This makes me want to have nothing to do with professional sports. The U.S.A. has become a freak show. Worse than Augustan Rome by far.

How is Kobe's salary paid out of the public purse?

[SeattleUte]

Originally Posted by TripletDaddy

How is Kobe's salary paid out of the public purse?

I assume he plays in a subsidized arena like everywhere else.

[8ballrollin]

Originally Posted by TripletDaddy

Besides MLB, which other US sports are exempt from anti-trust?

As we both know, only MLB does. But that wasn't so much the point of my post, just an aside - the whole thing about markets.

[TripletDaddy]

Originally Posted by SeattleUte

I assume he plays in a subsidized arena like everywhere else.

Staples was built with private dough....Roski (owner of Kings) and Anschutz Entertainment Group (who then bought out Fox's 40% interest).

I am pretty sure that the a portion of the land was picked up by the city. Less than 100M.

I still dont see how the public pays Kobe's salary.

Does the public pay my salary if it turns out that my firm is located in an office building built on land subsidized by local muni bonds?

[SeattleUte]

Originally Posted by TripletDaddy

Staples was built with private dough....Roski (owner of Kings) and Anschutz Entertainment Group (who then bought out Fox's 40% interest).

I am pretty sure that the a portion of the land was picked up by the city. Less than 100M.

I still dont see how the public pays Kobe's salary.

Does the public pay my salary if it turns out that my firm is located in an office building built on land subsidized by local muni bonds?

Your comparison is off base. The bottom line is the rent for an NBA arena is subsidized. The rent doesn't come close to covering the city's layout for the arena. If you work in a building financed through sale of minicipal bonds it's just a loan to the developer. He has to retire the bonds, pay them back with interest. That's not a subsidy but a financing mechanism. Municipal bonds are sold to private investors who expect to be paid, and who can sell their bonds because the market believes the borrower is good for the money. It's not the same thing as the city building the arena and giving a rent subsidy, as I expect you know.

Absent the subsidy, the owner couldn't afford to pay his spoiled super stars such high salaries.

[SeattleUte]

Here's how it works Tripletdaddy:

http://www.fieldofschemes.com/news/a...unch_stad.html

Now that you know that 100% of professioanl sports profit margin is funded by taxpayers, and ergo fucking Kobe's entire salary is paid by taxpayers, do you still think the NBA is such a great deal? Do you still think it's a model of capitalism?

[TripletDaddy]

Originally Posted by SeattleUte

Your comparison is off base. The bottom line is the rent for an NBA arena is subsidized. The rent doesn't come close to covering the city's layout for the arena. If you work in a building financed through sale of minicipal bonds it's just a loan to the developer. He has to retire the bonds, pay them back with interest. That's not a subsidy but a financing mechanism. Municipal bonds are sold to private investors who expect to be paid, and who can sell their bonds because the market believes the borrower is good for the money. It's not the same thing as the city building the arena and giving a rent subsidy, as I expect you know.

Absent the subsidy, the owner couldn't afford to pay his spoiled super stars such high salaries.

I think it is your comparison that is off base.

As I stated before, the actual Staples building was built with private funds.

A portion, not all, of the land was funded by muni bonds and a guaranteed loan on the part of the city. The rest was entirely private.

So for me to answer your question, maybe you should pick a different athlete from a team that actually plays in a subsidized building.

Also, Kobe's salary going into next season is 21M. Last season it was 20M. Where did you get the $30M?

[SeattleUte]

Originally Posted by TripletDaddy

I think it is your comparison that is off base.

As I stated before, the actual Staples building was built with private funds.

A portion, not all, of the land was funded by muni bonds and a guaranteed loan on the part of the city. The rest was entirely private.

So for me to answer your question, maybe you should pick a different athlete from a team that actually plays in a subsidized building.

Also, Kobe's salary going into next season is 21M. Last season it was 20M. Where did you get the $30M?

Prove it. I doubt the Lakers receive not a penny of taxpayer susidy, which is the norm in the NBA. Is LA's owner just big hearted?

Maybe LA is different but you know I'm right as to every other or virtually every other team. Bennett's team moving to Oklahoma had nothing to do with capitalism. You must have learned your econ from Karl Marx.

[MikeWaters]

One thing SU has not addressed is the economic benefits that city's can reap through new arenas. For example the American Airlines Center in Dallas has stimulated a lot of pricey development around it, in what was a delapidated impoverished area (and still is). There are seedy motels and hookers just a couple blocks from it. Yet there is an amazing amount of development going on. All this adds to the tax base.

So you have to figure stuff like that in.

[TripletDaddy]

Originally Posted by SeattleUte

Prove it. I doubt the Lakers receive not a penny of taxpayer susidy, which is the norm in the NBA. Is LA's owner just big hearted?

Maybe LA is different but you know I'm right as to every other or virtually every other team. Bennett's team moving to Oklahoma had nothing to do with capitalism. You must have learned your econ from Karl Marx.

Why would the Lakers receive any money for the Staples Center? The Lakers are just a tenant, like the Clippers.

The Staples Center was built by the owner of the LA Kings (Ed Roski), Anshutz Entertainment Group, and Rupert Murdoch/Fox.

AEG was involved because it was angling to develop more land in the blocks surrounding Staples.....that development has recently come to fruition in the form of the Nokia Theater, across the street from Staples.

Fox bailed out when Rupert decided to buy DirecTV...several years ago, Fox sold its 40% share in Staples to AEG. It also freed up cash by selling the Dodgers, I believe.

Now Anshutz is the majority owner. I dont think the Lakers own any of the Staples Center.

Look, here is the deal....your premise was wrong. You were wrong about who owns the Staples Center (even a basic google search would have answered your question), you were way off on Kobe's salary (again, a basic google search would answer that in less than 1 minute), and you were wrong about how the building was financed. Your entire premise was sloppy and poorly-researched.

Now you are retreating, leaving yourself a little wiggle room by allowing that every team in the NBA other than the Lakers operates this way. Your entire post is based on a short internet blurb which, not coincidentally, doesnt list any specific teams, either.

Now if you have had enough being bent over the barrel, please use lube next time because this go-round was not enjoyable for me. I prefer a little challenge in my men. Take your weak WNBA game somewhere else.

PS Happy 4th of July to you and your family!