Les puts Rockets up for sale

texasholdem · Post #21 » by **texasholdem** » Mon Jul 17, 2017 11:53 pm

So which cities are the threats to try and steal the Rockets?

San Diego? (the original NBA Rockets)
Seattle?
San Jose?
Kansas City?
Pittsburgh?
St. Louis?
Las Vegas?
Cincinnati?
and of course, Nashville! (Oilers left Houston 20 years ago)

K_chile22 · Post #22 » by **K_chile22** » Tue Jul 18, 2017 12:44 am

texasholdem wrote:So which cities are the threats to try and steal the Rockets?

San Diego? (the original NBA Rockets)
Seattle?
San Jose?
Kansas City?
Pittsburgh?
St. Louis?
Las Vegas?
Cincinnati?
and of course, Nashville! (Oilers left Houston 20 years ago)

The Rockets cannot be moved until 2033 and are a giant market. No one is a threat to move them.

zapatasblood · Post #23 » by **zapatasblood** » Tue Jul 18, 2017 1:58 am

http://abc13.com/sports/who-can-buy-the-rockets-look-at-potential-buyers/2227600/

Yao Ming is interested which I would love but still want Hakeem to apart of the new owners.

texasholdem · Post #24 » by **texasholdem** » Tue Jul 18, 2017 3:03 am

K_chile22 wrote:
texasholdem wrote:So which cities are the threats to try and steal the Rockets?

San Diego? (the original NBA Rockets)
Seattle?
San Jose?
Kansas City?
Pittsburgh?
St. Louis?
Las Vegas?
Cincinnati?
and of course, Nashville! (Oilers left Houston 20 years ago)

The Rockets cannot be moved until 2033 and are a giant market. No one is a threat to move them.

Sonics had a lease too.
Oilers were in the same "giant market."

We don't know what the next owner will do really.

Makes me wonder if signing harden to the extension was just about selling the team.

K_chile22 · Post #25 » by **K_chile22** » Tue Jul 18, 2017 3:57 am

texasholdem wrote:
K_chile22 wrote:
texasholdem wrote:So which cities are the threats to try and steal the Rockets?

San Diego? (the original NBA Rockets)
Seattle?
San Jose?
Kansas City?
Pittsburgh?
St. Louis?
Las Vegas?
Cincinnati?
and of course, Nashville! (Oilers left Houston 20 years ago)

The Rockets cannot be moved until 2033 and are a giant market. No one is a threat to move them.

Sonics had a lease too.
Oilers were in the same "giant market."

We don't know what the next owner will do really.

Makes me wonder if signing harden to the extension was just about selling the team.

It's not just a lease. It's a non relocation agreement. They aren't moving.

And the market was not the same when the oilers moved as it is now. That was so long ago it's completely irrelevant.

Post #26 » by **Mr. E** » Tue Jul 18, 2017 12:32 pm

The Rockets are not moving. That is a pointless discussion.

moofs · Post #27 » by **moofs** » Tue Jul 18, 2017 1:14 pm

K_chile22 wrote:
texasholdem wrote:
K_chile22 wrote:The Rockets cannot be moved until 2033 and are a giant market. No one is a threat to move them.

Sonics had a lease too.
Oilers were in the same "giant market."

We don't know what the next owner will do really.

Makes me wonder if signing harden to the extension was just about selling the team.

It's not just a lease. It's a non relocation agreement. They aren't moving.

And the market was not the same when the oilers moved as it is now. That was so long ago it's completely irrelevant.

Also, the biggest reason the Oilers moved was to retain the MASSIVE leverage power that sports team owners are able to exert over municipalities to get them to pay for massive stadiums and such at taxpayer expense.

They moved to a smaller market. I don't know the numbers, but without looking, I'd bet you their ticket revenue and merchandising sales went down, and that they got some sort of subsidies from the remaining team owners. The Toyota Center is only 14 years old. The Summit was used for 28 years. The Astrodome hosted team events for 33ish years. 12 years from now is 2029, with this agreement through 4 years after that.

You can guarantee we'll start hearing rumblings for a new stadium around 2025-2027, though. So, in about 8-10 years?

http://basketball.ballparks.com/NBA/HoustonRockets/newindex.htm
http://www.houstonchronicle.com/news/politics/houston/article/Sports-Authority-hopes-to-refinance-debt-and-end-5873934.php
(Note that the 70 million that the Sports Authority picked up, in combination with Reliant Stadium and Enron Field, somehow resulted in $1 billion of debt)

According to that second article, the 2014 refinancing extended the teams' leases to 2053, but that's leases, not binding legal agreement. The cost of breaking those tends to be pretty negligible after some other city pays off 95% of it. I doubt the agreement is negligible.

Mr. E wrote:The Rockets are not moving. That is a pointless discussion.

You mean the San Diego Rockets?

texasholdem wrote:Makes me wonder if signing harden to the extension was just about selling the team.

There's no wonder, that's GUARANTEED. Same with Morey. New owner gets about as big of a guarantee of stability as he can get while he learns the ropes. It was a decent move, anyway.

benson13 · Post #28 » by **benson13** » Tue Jul 18, 2017 3:46 pm

Do the Rockets have any minority owners?

MaxRider · Post #29 » by **MaxRider** » Tue Jul 18, 2017 3:48 pm

benson13 wrote:Do the Rockets have any minority owners?

nope

inquisitive · Post #30 » by **inquisitive** » Wed Jul 26, 2017 6:52 pm

over $2bil.....i still say around 2.5 bil at minimum when all said and done.

http://www.houstonchronicle.com/sports/rockets/article/Why-the-Rockets-are-expected-to-be-sold-for-2-11389198.php&cmpid=twitter-premium

MaxRider · Post #31 » by **MaxRider** » Wed Jul 26, 2017 8:53 pm

inquisitive wrote:over $2bil.....i still say around 2.5 bil at minimum when all said and done.

http://www.houstonchronicle.com/sports/rockets/article/Why-the-Rockets-are-expected-to-be-sold-for-2-11389198.php&cmpid=twitter-premium

expected after we acquired CP3
i hope Les sell the team to one owner, not necessary the highest bidder, but someone who is committed to keeping the team in Houston and winning
will be pain if it is some corporate, those people just want to make money, they don't care about other stuff

RaoulDuke79 · Post #32 » by **RaoulDuke79** » Wed Jul 26, 2017 11:32 pm

Dikembe wants in. Give us the Dikembe.

YoungMoney23 · Post #33 » by **YoungMoney23** » Fri Jul 28, 2017 5:38 am

Worst news of the offseason

Post #34 » by **Mr. E** » Fri Jul 28, 2017 3:16 pm

YoungMoney23 wrote:Worst news of the offseason

I'm nervous as well, but I do like that Les is taking a long-term approach to this. He will make sure that the team is left in good hands.

Just in case I think that we should start a collection here. I think that we're trustworthy.

spolgar · Post #35 » by **spolgar** » Sat Jul 29, 2017 12:32 am

This is unfortunate, but I think this is the smart time to sell.

The salary bubble is going to burst. Basketball revenue is not growing as much from year to year as expected. This means teams with cap room and well managed rosters will be able to maneuver much better than teams that haven't done their due diligence in the past (I'm look at the Bucks in particular here). Viewership isn't going to expand much more domestically. NBA team values are still increasing, but the boom era is almost over.

Getting out while it is good is a great idea for any investment. I can understand why the owner wants to sell.

moofs · Post #36 » by **moofs** » Sat Jul 29, 2017 1:05 am

spolgar wrote:This is unfortunate, but I think this is the smart time to sell.

The salary bubble is going to burst. Basketball revenue is not growing as much from year to year as expected. This means teams with cap room and well managed rosters will be able to maneuver much better than teams that haven't done their due diligence in the past (I'm look at the Bucks in particular here). Viewership isn't going to expand much more domestically. NBA team values are still increasing, but the boom era is almost over.

Getting out while it is good is a great idea for any investment. I can understand why the owner wants to sell.

I'd like to know his answers on what to put it into.
I don't have a clue, personally.

spolgar · Post #37 » by **spolgar** » Tue Aug 1, 2017 3:10 am

moofs wrote:I'd like to know his answers on what to put it into.
I don't have a clue, personally.

Maybe he's just getting out before the getting goes from great to average.

Man, the all star game this year is going to suck...

texasholdem · Post #38 » by **texasholdem** » Tue Aug 1, 2017 10:49 pm

Beyonce is interested in forming a group to buy the team

Post #39 » by **Mr. E** » Wed Aug 2, 2017 3:24 pm

texasholdem wrote:Beyonce is interested in forming a group to buy the team

I don't want a group of semi-interested celebrities buying this team. I'm also wary of ownership groups.

It is one thing if it involves an NBA talent like Dream or Yao, but please no celebrity drama.

RaoulDuke79 · Post #40 » by **RaoulDuke79** » Wed Aug 2, 2017 11:33 pm

Mr. E wrote:
texasholdem wrote:Beyonce is interested in forming a group to buy the team

I don't want a group of semi-interested celebrities buying this team. I'm also wary of ownership groups.

It is one thing if it involves an NBA talent like Dream or Yao or MUTOOOOMBBBOOOOOOOOO!!!*, but please no celebrity drama.

Agreed.

*edited by RD79 to include the Deke, King of the Finger Wag and one of the most beloved persons to ever wear a Rockets jersey, all praise the Dikembe, amen.