When the psychotic ranting of Los Angeles Clippers owner Donald Sterling went public this week, ambulancehospital I think we all felt a little ashamed that such a person a) lived and breathed and b) was somehow richer than everyone everywhere. But the moment that NBA Commissioner Adam Sliver banned Sterling from the league for life, buy viagra our horror and embarrassment turned into collective celebration. Racists be banished! Our faith in society restored!\n\nRejoicing came from sports team owners who are not vomitous cultural anachronisms, including our own Jerry Reinsdorf (and son Michael):\n
We completely support Commissioner Silver’s decision today regarding Clippers owner Donald Sterling … The league’s decision underscores the severity and reprehensible nature of the comments attributed to Donald Sterling … Discrimination and prejudice of any kind have no place in sports or in our society.
\nWho would disagree? But “discrimination and prejudice” take many forms. Bigoted language is one of the obvious manifestations but there are others that are more insidious. Because in the end, racism (like sexism) is about power: or one “race” wielding and maintaining power over another. And this is a project in which Jerry Reinsdorf actively takes part. Continue reading →
By James Fegan\n\nThe Bulls season is hurtling down into a tunnel of sadness, nurseailment so pointing out that the opposing team’s owner is a scumbag has become overkill. Yet we’d be remiss if we passed on the chance to write up the man who inspired this series. Ironically, viagra Donald Sterling might be such a notoriously unfeeling leather sack of racism and antipathy that a report on his misdeeds is akin to shooting fish in a refrigerator.\n\nName: Donald Sterling\n\nNet Worth: $1.9 billion\n\nTeam: Los Angeles Clippers\n\nForbes Team Valuation: Value $430 million; Revenue $108 million; Operating Income $9.1 million\n\nTenure: Since 1981, when he acquired the Clippers for $12.5 million. Good for him!\n\nArena: Staples Center (1999)\nTotal Capital Cost (2010): $535 Million\nPublic Capital Cost (2010): $98 Million (18%)\nSource: Judith Grant Long, Public-Private Partnerships for Major League Sports Facilities (Routledge)\n\nCost of Gamefor a Family of Four (2012-13): $369.40\n\nOngoing Subsidies:\n\nThe Staples Center financing process is actually seen as a relative breath of fresh air in the unfathomably putrid world of super-rich sports franchises holding massively indebted metropolises hostages for funding they don’t need for stadiums that only serve to raise their own revenues. Los Angeles’ obligation was actually reduced from $70.5 million due to concerns about the debt repayment schedule.\n Continue reading →
The Bulls triumphed over the Cavaliers on Monday night; let’s take a look at how Cavs ownership is triumphing over Cleveland taxpayers.\n\nName: Dan Gilbert\n\nNet Worth: $3.9 billion\n\nTeam: Cleveland Cavaliers\n\nForbes Team Valuation: Value $434 million; Revenue $128 million; Operating Income $18.6 million\n\nTenure: Since 2005\n\nArena: Quicken Loans Arena (1994)\nTotal Capital Cost (2010): $328 Million\nPublic Capital Cost (2010): $285 Million (87%)\nSource: Judith Grant Long, discount viagramedical Public-Private Partnerships for Major League Sports Facilities (Routledge)\n\nCost of Game for a Family of Four (2012-13): $287.60\n\nOngoing Subsidies:\n\nThe naming rights to the taxpayer-built arena were included in the private deal Dan Gilbert cut with former owner Gordon Gund to buy the Cavs, pharm and so the city received no compensation when Gilbert renamed the arena after his online mortgage company, Quicken Loans, in 2005.\n\nSince the facility is technically owned by the public (but the Cavs receive the revenue it generates), Gilbert pays no rent or taxes on the building. In 2009, a Cleveland journalist estimated the Cavs’ property tax savings to be a little less than $4 million annually, 55% of which would go to schools. By the way, with Gilbert’s personal net worth of $3.9 billion, he could pay the current annual property tax rate on Quicken Loans Arena for about a thousand years.\n Continue reading →
A look at Pacers ownership before the Bulls visit Indiana on Wednesday night.\n\nName: Herbert Simon\n\nNet Worth:$1.95 billion\n\nTeam: Indiana Pacers\n\nForbes Team Valuation: Value $383 million; Revenue $98 million; Operating Income $10.9 million\n\nTenure: Herb and his brother Mel purchased the team in 1983. Herb became sole owner after Mel died in 2009.\n\nArena: Bankers Life Fieldhouse\nTotal Cost (2010): $262 Million\nTaxpayer Cost (2010): $252 Million (96%)\nSource: Judith Grant Long, buy cialissovaldi sale Public-Private Partnerships for Major League Sports Facilities (Routledge)\n\nOngoing Subsidies:\n\nIn 2010, the Capital Improvement Board of Marion County agreed to give Herb Simon and the Pacers $33.5 million over three seasons after the owner complained that he couldn’t make money at the eighteen-thousand seat facility the state built for him, where he pays no rent and keeps all the revenue.\n\nIn December 2012, the CIB decided to pay the Pacers $10 million more in 2013, after the team agreed to extend its lease with the city one more year until 2019.\n\nIn August of this year, the CIB committed $11 million to Herb Simon and the Pacers in 2014 to “offset losses from operating Bankers Life Fieldhouse.” The team will receive an additional $10 million next year for renovations to the arena.\n Continue reading →
This week the Bulls broke ground on what is to be a 60, prescriptionshop 000 square foot practice facility adjacent to the United Center. For the Bulls, andstuff the training complex will replace the Berto Center in the ‘burbs, thumb where the smaller facility can no longer accommodate the Bulls’ numerous staff and really big players.\n\n\”It wasn’t our first choice,” the Chairman told the press, “My first choice was to build a bigger building out in the Deerfield area. But the mayor said this was important to him. We want to be good citizens and so we went ahead and did it.”\n\nLike Judge Smails sentencing boys to the gas chamber, Jerry Reinsdorf didn’t want to do it; he felt he owed it to us.\n\nAnd Rahm Emanuel was right there at the groundbreaking ceremony to explain why we should all be so appreciative of the Bulls’ decision to practice playing basketball in Chicago:\n\n“It’s this type of investment that happened with the United Center 20 years ago that then spurred a series of public and private investments that have turned the Near West Side into an economic opportunity for the entire city commercially and residentially…This new training facility–after 20 years coming home to Chicago–will have as equal a value in economic opportunity, job creation and job growth for the entire West Side.”\n\nI hate to be the one to break it to the mayor, because he’s kind of on a roll with all this sports facilities and jobs talk lately, but he’s wrong about the United Center. Rachel Weber, Associate Director of the Great Cities Institute at the University of Illinois at Chicago, said as much in a May, 2011 WBEZ Eight Forty-Eight interview on the subject.\n Continue reading →