Own a Team V3 - Financial News

[roc]

This thread will be for all Financial Transactions and News

Relocations, Building Arenas, Renaming, and other related financial stuff will have it's home in this thread.

To do any of the above you must submit detailed plan (check rules thread) to league offices (r0cd0gg) for approval. You can NOT relocate out of conference area so balance is kept.

You can only relocate within the US or Canada

DO NOT POST SIGNINGS IN THIS THREAD

[MadNESS]

Big changes are looming in Orlando.

First, the Orlando franchise will not longer be called the "Magic", as they have adopted a new team concept.
Orlando will now be known as the Orlando "Phantoms". The same team colors will remain, but - Logo to be up ASAP.

We feel this is a better suited name for the team.

10 million will be paid to the tax pool for the renaming.

Also, We will be building a new top of the line arena at the cost of:
$600mil

The Amway Center is going on 25 years old, and was built before the new arena technology was used.
We are immediately building a new arena in the parking lot area of the old arena, and will level the Amway Center, and use that area as the parking lot. The new arena will be known as the "Amway Arena".

This move is crucial in the in the process of moving forward as a franchise.

[Karmaloop]

The Minnesota Timberwolves are proud to announce they are moving to Kansas City, home of the Kansas City Crusaders.



The current plans are to use Sprint Center. Although, there are talks of a new state-of-the-art arena to be built in the heart of Kansas City.

The Crusaders must pay 60 million to the league for this relocation.

[lukekarts]

Reports coming from Cleveland this morning indicate new Cavaliers owner lukekarts has reached an agreement with the NBA Commissioner on the renaming of the Cleveland team, and the unveiling of plans to open a state of the art arena.



And so the Cleveland Rockers are born...

Lukekarts commented that 'the Cleveland Rockers name pays homage to the modern roots of Cleveland, home of the Rock & Roll Hall of Fame, a city which broke acts such as David Bowie and Bruce Springsteen.' He added 'nobody really understands the Cavaliers name, so this rejuvinates the franchise identity'.

Cleveland will be redeveloping the site of the Quicken Loans Arena, ditching the sponsorship deal and instead putting naming options to a fan vote.

Naming options will include the Rock & Roll Coliseum and the Cleveland Coliseum.

The redevelopment budget is cited at $600m. The arena itself will host a number of restaurants and shops, world leading facilities including, most notably, a soundsystem equipped to host 'one hell of an opening night concert'. The site will include a cinema, shopping mall, business complex, park, and underground parking facilities.

[RiotPunch]

Utah has a big change to announce:

Ownership and management, with some help from the fans, has decided to scrap the name 'Jazz' and move on to something a little more fitting for the area. We are proud to unveil our new logo and name to the fans, and the league:


Alternate:

We gladly pay $10M to the tax pool.

Rumor has it, a new arena with world class amenities is on the horizon as well!

[MadNESS]

That my friends is sick.

[MadNESS]

Big changes are looming in Orlando.

First, the Orlando franchise will not longer be called the "Magic", as they have adopted a new team concept.
Orlando will now be known as the Orlando "Phantoms". The same team colors will remain, but - Logo to be up ASAP.

We feel this is a better suited name for the team.

10 million will be paid to the tax pool for the renaming.

Also, We will be building a new top of the line arena at the cost of:
$600mil

The Amway Center is going on 25 years old, and was built before the new arena technology was used.
We are immediately building a new arena in the parking lot area of the old arena, and will level the Amway Center, and use that area as the parking lot. The new arena will be known as the "Amway Arena".

This move is crucial in the in the process of moving forward as a franchise.

Mad prop's to the "want to remain anonymous person" : ) I love it!

[RoyalWun]

Denver would like to announce the renaming of our team from the Nuggets to the Grizzlies.

We will pay the $10m for the change.

Teams new logos:

[roc]

With Grant Hill being released from his contract he will now be retiring as a player.

[roc]

LUXURY TAX NUMBERS

OVER LUX TAX

You must post your total team salary as well as lux tax losses under '2013/14 expenditures' subsection in your FINANCE header section.

TEAM - SALARY - - - - - - - - - TAXES

CHI = $95,953,682 - Tax paid = $127,152,615
BKN = $90,717,382 - Tax paid = $92,162,983
MIA = $89,966,264 - Tax paid = $87,314,452
TOR = $88,165,103 - Tax paid = $77,408,067
GSW = $86,803,137 - Tax paid = $69,917,254
OKC = $86,414,101 - Tax paid = $67,777,556
DEN = $84,105,924 - Tax paid = $55,976,658
LAL = $80,831,341 - Tax paid = $41,241,035
KCC = $79,990,337 - Tax paid = $37,466,180
WAS = $78,131,954 - Tax paid = $30,961,839
BOS = $77,336,266 - Tax paid = $28,176,931
NYK = $74,727,452 - Tax paid = $19,318,630
PHI = $73,521,191 - Tax paid = $16,302,978
ORL = $71,429,147 - Tax paid = $11,072,868
SAS = $71,082,908 - Tax paid = $10,207,270
UTA = $69,475,210 - Tax paid = $6,712,815


TOTAL collected in Lux Tax = $782,373,269


UNDER LUX TAX

You must post your total team salary as well under '2013/14 expenditures' subsection in your FINANCE header section. Your 'Tax Earnings' will go under '2013/14 Earnings' subsection in FINANCE section

TEAM - SALARY - - - - - - - - - TAX SHARE

PHX = $64,991,056 - Tax earned = $130,395,545
LAC = $64,848,165 - Tax earned = $130,395,545
PDX = $61,032,113 - Tax earned = $130,395,545
CHA = $58,621,076 - Tax earned = $130,395,545
HOU = $58,391,321 - Tax earned = $130,395,545
CLE = $57,298,151 - Tax earned = $130,395,545

[roc]

Arena Money $$$

You must post your Arena earnings under' 2013/14 Earnings' subsection in FINANCE section

The following teams both paid out $600,000,000 (needs to be listed under expenditures in your finance sections)

ORL - $48,000,000 (8% back for making 1st round)
CLE - $96,000,000 (16% back for making Conference Finals)

[roc]

TV Money $$$

20% of your TV Earnings will be split among players on your roster so remove that from your earnings.

You must post your Playoff Earnings under' 2013/14 Earnings' subsection in FINANCE section


Missed Playoffs

CHA - $30,000,000
LAL - $30,000,000
NYK - $30,000,000
DEN - $30,000,000
UTA - $30,000,000
PHI - $30,000,000

Reached Playoffs

BOS - $45,000,000
ORL - $45,000,000
BKN - $45,000,000
TOR - $45,000,000
PHX - $45,000,000
KCC - $45,000,000
GSW - $45,000,000
LAC - $45,000,000

Reached 2d round

WAS - $60,000,000
MIA - $60,000,000
HOU - $60,000,000
SAS - $60,000,000

Reached Conference Finals

OKC - $75,000,000
CLE - $75,000,000

Reached Finals

PDX - $100,000,000

Champions

CHI - $200,000,000