Lakers Had Largest Financial Loss From Hiatus

 
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PostPosted: Fri Oct 23, 2020 11:08 am    Post subject: Lakers Had Largest Financial Loss From Hiatus

Lakers Had Largest Financial Loss From Hiatus

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All 30 NBA teams suffered financially from the shutdown, but the Lakers were impacted more than anyone, writes Bill Shea of The Athletic. Figures released by Team Marketing Report, a Chicago-based sports business intelligence firm, show the league lost $694MM from the cancellation of 258 regular-season games.

The Lakers missed out on revenue from 10 home games, tied for the most in the league, which cost the franchise an estimated $52.7MM.

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PostPosted: Fri Oct 23, 2020 11:29 am    Post subject:

Doesn't come as a surprise that the team which makes the most money from TV rights, ticket sales and corporate sponsorships would have the most to lose if the games weren't being played in the normal settings.
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PostPosted: Fri Oct 23, 2020 11:48 am    Post subject:

I’m not that familiar with the league revenue sharing plan, will the organization still have to share?
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PostPosted: Fri Oct 23, 2020 12:01 pm    Post subject:

I read an article a few days ago that said despite the loss it will have only have minimal effect on the Lakers because they have the Time Warner Cable contract.
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PostPosted: Fri Oct 23, 2020 12:03 pm    Post subject:

I wonder if there will be tons of mid tier players that won't get paid off-season, especially if we are still playing in the bubble.
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PostPosted: Fri Oct 23, 2020 3:04 pm    Post subject:

32 wrote:
I read an article a few days ago that said despite the loss it will have only have minimal effect on the Lakers because they have the Time Warner Cable contract.


I can't tell if we are a poor franchise (because ownership is relatively poor) or a rich one.
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PostPosted: Fri Oct 23, 2020 4:56 pm    Post subject:

CandyCanes wrote:
32 wrote:
I read an article a few days ago that said despite the loss it will have only have minimal effect on the Lakers because they have the Time Warner Cable contract.


I can't tell if we are a poor franchise (because ownership is relatively poor) or a rich one.


Ownership is not relatively poor; the Buss family trust can be considered "relatively" poor, but the other ~1/4 to a 1/3rd of the team is owned by your standard multi-billionaires. While the exact mechanics of contributions are opaque to us, a standard agreement would have them contributing their fair share.
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PostPosted: Fri Oct 23, 2020 5:02 pm    Post subject:

lakersken80 wrote:
Doesn't come as a surprise that the team which makes the most money from TV rights, ticket sales and corporate sponsorships would have the most to lose if the games weren't being played in the normal settings.

Exactly. The top 5 teams who lost money where all big markets
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PostPosted: Fri Oct 23, 2020 5:02 pm    Post subject:

venturalakersfan wrote:
I’m not that familiar with the league revenue sharing plan, will the organization still have to share?


Not a bad point VLF! Do the league averages the loss like they share the profits?
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PostPosted: Fri Oct 23, 2020 5:03 pm    Post subject:

Set up a Go Fund Me....they brought it home and I for one am willing to pay my proper respects!
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PostPosted: Fri Oct 23, 2020 8:38 pm    Post subject:

governator wrote:
venturalakersfan wrote:
I’m not that familiar with the league revenue sharing plan, will the organization still have to share?


Not a bad point VLF! Do the league averages the loss like they share the profits?


Man, wouldn't that stick in the craw of Dan Gilbert.
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PostPosted: Fri Oct 23, 2020 9:00 pm    Post subject:

CandyCanes wrote:
32 wrote:
I read an article a few days ago that said despite the loss it will have only have minimal effect on the Lakers because they have the Time Warner Cable contract.


I can't tell if we are a poor franchise (because ownership is relatively poor) or a rich one.



1. As a fan, it doesn't matter. The Lakers have always been willing to spend on players, which is all that matters.

2. The Buss Family owns 66% of the Lakers. They aren't Mark Cuban rich, but each of them is rich because they were born to the right parents.
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PostPosted: Sat Oct 24, 2020 8:57 am    Post subject:

activeverb wrote:
CandyCanes wrote:
32 wrote:
I read an article a few days ago that said despite the loss it will have only have minimal effect on the Lakers because they have the Time Warner Cable contract.


I can't tell if we are a poor franchise (because ownership is relatively poor) or a rich one.



1. As a fan, it doesn't matter. The Lakers have always been willing to spend on players, which is all that matters.

2. The Buss Family owns 66% of the Lakers. They aren't Mark Cuban rich, but each of them is rich because they were born to the right parents.


I remember the organization getting cheap with scouts and trainers during the 2011 lockout...
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PostPosted: Sat Oct 24, 2020 9:02 am    Post subject:

Dumhead wrote:
governator wrote:
venturalakersfan wrote:
I’m not that familiar with the league revenue sharing plan, will the organization still have to share?


Not a bad point VLF! Do the league averages the loss like they share the profits?


Man, wouldn't that stick in the craw of Dan Gilbert.


I know that an organization has to reach the league average in revenue to receive revenue sharing, obviously that average would be pretty low this season.
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PostPosted: Sat Oct 24, 2020 9:07 am    Post subject:

CandyCanes wrote:
activeverb wrote:
CandyCanes wrote:
32 wrote:
I read an article a few days ago that said despite the loss it will have only have minimal effect on the Lakers because they have the Time Warner Cable contract.


I can't tell if we are a poor franchise (because ownership is relatively poor) or a rich one.



1. As a fan, it doesn't matter. The Lakers have always been willing to spend on players, which is all that matters.

2. The Buss Family owns 66% of the Lakers. They aren't Mark Cuban rich, but each of them is rich because they were born to the right parents.


I remember the organization getting cheap with scouts and trainers during the 2011 lockout...


And during the 3 peat. Too cheap to sign Jones so they traded him for Rice. Too cheap to pay Rice so they traded him for Grant. Too cheap to sign Grant so he walked. Cut Brian Shaw to save money and traded away first round picks to save money. Dr. Buss would pay for stars but cut pennies everywhere else that he could. Considering that he didn’t have Microsoft money to fall back on, it is understandable.
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PostPosted: Sat Oct 24, 2020 9:15 am    Post subject:

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And during the 3 peat. Too cheap to sign Jones so they traded him for Rice. Too cheap to pay Rice so they traded him for Grant. Too cheap to sign Grant so he walked. Cut Brian Shaw to save money and traded away first round picks to save money. Dr. Buss would pay for stars but cut pennies everywhere else that he could. Considering that he didn’t have Microsoft money to fall back on, it is understandable.


This was luxury tax avoidance more than billions of dollars being an issue.

But yes, I hated all of these moves, especially the Brian Shaw one.
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PostPosted: Sat Oct 24, 2020 9:22 am    Post subject:

Agree, but they were easy to understand. The Lakers just don’t have deep pockets.
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PostPosted: Sat Oct 24, 2020 11:53 pm    Post subject:

venturalakersfan wrote:
Agree, but they were easy to understand. The Lakers just don’t have deep pockets.


Majority owners don't, but the minority owners do.



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The Buss Family currently owns 66 percent of the Lakers, but with minority owners like Philip Anschutz (owner of AEG, the world’s largest owner of sports teams, events, and venues; net worth: $11.1 billion), Edward P. Roski (part-owner of the Los Angeles Kings and a casino in Las Vegas; net worth: $5.8 billion), and Patrick Soon-Shiong (net worth: $9 billion.
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PostPosted: Sun Oct 25, 2020 9:27 am    Post subject:

l4kerz wrote:
venturalakersfan wrote:
Agree, but they were easy to understand. The Lakers just don’t have deep pockets.


Majority owners don't, but the minority owners do.



Quote:
The Buss Family currently owns 66 percent of the Lakers, but with minority owners like Philip Anschutz (owner of AEG, the world’s largest owner of sports teams, events, and venues; net worth: $11.1 billion), Edward P. Roski (part-owner of the Los Angeles Kings and a casino in Las Vegas; net worth: $5.8 billion), and Patrick Soon-Shiong (net worth: $9 billion.


Majority owners are footing 66% of the bill. If I am AEG I only pay more for a greater ownership stake in the team. It is an investment for them. I own Amazon stock, I am not helping them pay business expenses. The Buss kids are on the hook for any luxury tax so I doubt that they ever pay it.
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PostPosted: Sun Oct 25, 2020 9:37 am    Post subject:

The Lakers are literally a family business. Which I think is cool. Jeanie is perhaps the only Buss kid with any semblance of her dad's business acumen.

And being they don't have Microsoft money to fall back on, is one reason I don't think we make a run for CP3. It's just not a smart business move. Ballmer can do it and not care either way, if Jeanie goes for it and he gets hurt, that would suck hard.

I think the family learned their lesson with the mozdeng deals. Never again!

You pay for transcendent stars. That's it. Lebron was old, but he's fricken lebron. And you pay whatever you have to for prime AD. you don't gamble family money on old ass CP3.
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PostPosted: Sun Oct 25, 2020 9:45 am    Post subject:

oaktown_dimond wrote:
The Lakers are literally a family business. Which I think is cool. Jeanie is perhaps the only Buss kid with any semblance of her dad's business acumen.

And being they don't have Microsoft money to fall back on, is one reason I don't think we make a run for CP3. It's just not a smart business move. Ballmer can do it and not care either way, if Jeanie goes for it and he gets hurt, that would suck hard.

I think the family learned their lesson with the mozdeng deals. Never again!

You pay for transcendent stars. That's it. Lebron was old, but he's fricken lebron. And you pay whatever you have to for prime AD. you don't gamble family money on old ass CP3.


I’m a big CP3 fan and a big proponent of getting him but ... your point is a good one. 😂
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PostPosted: Sun Oct 25, 2020 11:46 am    Post subject:

Mike@LG wrote:
Quote:


And during the 3 peat. Too cheap to sign Jones so they traded him for Rice. Too cheap to pay Rice so they traded him for Grant. Too cheap to sign Grant so he walked. Cut Brian Shaw to save money and traded away first round picks to save money. Dr. Buss would pay for stars but cut pennies everywhere else that he could. Considering that he didn’t have Microsoft money to fall back on, it is understandable.


This was luxury tax avoidance more than billions of dollars being an issue.

But yes, I hated all of these moves, especially the Brian Shaw one.


Hated the Horry move. He also got dumped to avoid the luxury tax. That’s the one that hurt the most especially after Malone got injured. We were force to play Medvedenko , Walton and Brian Grant on the spot .
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