Wiretap: Jazz could be sold if bad CBA is agreed upon

[BarneyGumble]

The Jazz are the backbone of the LHM industry. If they ever sold the team and it was moved out of state all of the LHM industries would plummet. I doubt they ever sell the team and if they do they have to have 100% assurance it won't move.

Thats just not true.

First of all, I am not saying the article is credible.

But to think the Millers wouldnt sell the Jazz is to proverbially stick one's head in the sand.

Miller made his fortune in auto sales. In case you haven't noticed, that is an industry in America that basically went bankrupt in 2008. Not to mention Toyota's struggles earlier this year, and the general lackluster economic growth we've had for a while now.

To think the Jazz is the backbone of the Miller Group of businesses is silly. The Millers dont mind operationally losing $5-10 million the Jazz, because its basically a marketing expense for the other businesses. But when the other businesses, all of which are capital intensive and dependant on strong interest rates for financing income, are struggling.....its very feasible the Millers could sell the Jazz to keep their heads above water.....

[HolyToledo]

I do not think the Millers will sell the team NOW after this collective bargaining issues. NBA teams values had to drop after this mess. I do think they will sell the team in 3-5 years as simply the Jazz are not selling out like they used to. Seattle and Vegas need a team and the league wants them to have a team. The only thing that might keep the team in Utah for many years would be for these talented young players like Hayward and Favors etc. to take the Jazz to a championship which would stop all sales talk bc the arena would be full everyday.

[retiredcoach]

I get a chuckle out of some of these threads.

The Miller's aren't going to sell the Jazz. The Jazz built the car business. This is and has always been LHM's biggest marketing tool. Nothing keeps the dealership names in front of the public more than the Jazz. In the car business, it's all name recognition and size.

On a cash flow basis, the Jazz haven't lost money often. On a P&L basis they do, but the statements are consolidated so any Jazz losses are offset by LHM auto earnings. Cars are a $3.2 billion a year business. It's not a problem to carry the Jazz for 20 years, especially if the cash flow is close to breakeven, regardless of the P&L. The Jazz will be debt free in 2 more years making them one of the most financially stable sports franchise in the country.

The Jazz are here for the long run. But they aren't going to do stupid stuff in order to win the championship the fans covet.

[johnnyblazzed]

Agree with Retirecoach. Jazz will not be sold, and are not leaving Utah.

As for the Vegas comment someone made......... Really???? Vegas is a pure tourist attraction. Absolutely no way to build a solid fan base that brings in enough money to support a team.

[StocktonShorts]

I get a chuckle out of some of these threads.

The Miller's aren't going to sell the Jazz. The Jazz built the car business.

LHM bought the Jazz with money he earned from his already successful car dealerships. He purchased his first car dealership in 1979. He bought his first 50% stake of the Jazz in 1985.

I don't disagree that the Jazz brand is responsible for a lot of "goodwill" in the various LHM group ventures, but let's not rewrite history.

[DelaneyRudd]

Vegas has no non gaming corpoate base. Its relatively poor and transient. Theres a reason the Maloofs chose Anaheim without considering Vegas. Vegas has one awesome street, a few neighborhoods with discount mansions and a whole lot of meh.

[retiredcoach]

by HappyProle on Tue Nov 22, 2011 5:01 pm

retiredcoach wrote:I get a chuckle out of some of these threads.

The Miller's aren't going to sell the Jazz. The Jazz built the car business.

LHM bought the Jazz with money he earned from his already successful car dealerships. He purchased his first car dealership in 1979. He bought his first 50% stake of the Jazz in 1985.

I don't disagree that the Jazz brand is responsible for a lot of "goodwill" in the various LHM group ventures, but let's not rewrite history.

Hap, I'm not rewriting history. I'm just more familiar with all of this than simply knowing the dates.

[MeestR]

he may have used the influence of his dealerships to purchase the jazz, but he used the influence of the jazz to purchase the other half of the salt lake valley.

[DelaneyRudd]

he may have used the influence of his dealerships to purchase the jazz, but he used the influence of the jazz to purchase the other half of the salt lake valley.

LHM has a lot of dealerships out of Utah. They have them all over the Mnt Time zone and the Pac-NW. They are just as big in Boise and Denver and have multiple locations in Portland, Phoenix and Albq. They also have big financing companies. Its more than a few dealerships on State St. and some theaters.

[retiredcoach]

by DelaneyRudd on Tue Nov 22, 2011 7:40 pm

LHM has a lot of dealerships out of Utah. They have them all over the Mnt Time zone and the Pac-NW. They are just as big in Boise and Denver and have multiple locations in Portland, Phoenix and Albq. They also have big financing companies. Its more than a few dealerships on State St. and some theaters.

It would have been hard for LHM to sell $3.2 billion in cars to locals only. Every person in Utah would be driving a new LHM car. That's why LHM bought the movie theaters. Based on popcorn pricing in his theaters, I'm guess half that comes from concession sales.

"Give me that large popcorn and layer that fake butter oil throughout. My ass ain't big enough, and I haven't even had my first heart attack yet!"

[DelaneyRudd]

He seemed to think he could bring back the mid-60s with muscle cars and movie dates and full service gas stations.

I wonder if Pete Ashdown will ever get rich enough to be a Salt Lake patron. I tried getting X-mission but they didnt have their super speed internet in Sugarhouse. Twas dissapointing.