tag:blogger.com,1999:blog-6326369852741451028.post259432895057363577..comments2010-05-28T03:40:50.664-04:00Comments on Third Quarter Collapse: An Orlando Magic Blog - Now at www.ThirdQuarterCollapse.com: In DeFense of DeVos/In Support of a New DowntownBen Q. Rockhttp://www.blogger.com/profile/12451831236977005116noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6326369852741451028.post-28651603172265390492007-07-24T13:24:00.000-04:002007-07-24T13:24:00.000-04:00Well, I think if Alex Martins is your key witness ...Well, I think if Alex Martins is your key witness in the defense trial of supporting building a new stadium, you really need to get another witness, because he's so obviously biased that his testimony would be thrown out of court.<BR/><BR/>By his logic, the New York Yankees will sabotage their team's value by building a new stadium next door to Yankee Stadium, the San Francisco Giants destroyed their franchise's value by building Pac Bell, the Mariners killed themselves by building Safeco, etc., etc. <BR/><BR/>In fact, all of those franchises ENHANCED their value with the building of their stadia. Why? Because they can now earn greater profits. Yes, portability can add to the value of a team (see Sonics, Seattle), but not as much as building a new arena.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6326369852741451028.post-9052563593936630542007-07-23T19:05:00.000-04:002007-07-23T19:05:00.000-04:00You sure you don't live in Central Florida, Nuss? ...You sure you don't live in Central Florida, Nuss? <BR/><BR/>Kidding. <BR/><BR/>I see what you're saying, but I still think DeVos is being genuine.<BR/><BR/>Have you stopped laughing yet?<BR/><BR/>Anyway, I don't pretend to understand economics, but Alex Martins told Scott Maxwell that the team will lose value once it gets its new arena:<BR/><BR/><I>But Alex argued that a new arena deal would also force the team to stick around (or face steep fines) through the term of the lease. And when a team loses portability, it loses value, he said. As evidence, the team cites recent hubbub around Nashville's hockey team, where buyers threw out bids much higher than the team's estimated worth, largely because they could take the team with 'em.</I><BR/><BR/>Again, I'm not an economic expert, but what he says seems reasonable. <BR/><BR/>I just don't want this team to move, and maybe that's clouding my judgment.Ben Q. Rockhttps://www.blogger.com/profile/12451831236977005116noreply@blogger.comtag:blogger.com,1999:blog-6326369852741451028.post-43934934606856689122007-07-23T17:51:00.000-04:002007-07-23T17:51:00.000-04:00To play devil's advocate for a moment, perhaps the...To play devil's advocate for a moment, perhaps the reason the DeVos family did not sell the franchise for $410 million is because they knew it would be worth much more in a few years if a new stadium is built.<BR/><BR/>Maybe it would be best to look at it from this point:<BR/><BR/>Your neighbors ask you to go in with them on building a nice fence along the backyard you share. <BR/><BR/>You argue that they're only doing it because they want to increase the value of their home before selling.<BR/><BR/>"No, that's not true," Neighbor Ned says. "Why, just last month a prospective buyer offered me $500,000 for this house and I said no!"<BR/><BR/>Reassured, you fork over the $5,000 it costs for your half of the fence. <BR/><BR/>A week after the fence is finished, Neighbor Ned puts his house up for sale and pockets a cool $600,000 because the fence made his home more palatable to people with kids and pets.<BR/><BR/>Perhaps I'm overly cynical and DeVos isn't a greedy billionaire looking to fund his 15th mansion on the backs of taxpayers, but just remember that these owners are businessmen first and citizens of the community second.Anonymousnoreply@blogger.com