Your Seattle AirHawks... or not
Posted 22 June 2012 - 04:53 PM
But the Spirit could theoretically pay off the remaining $123.5 million in bonds off tomorrow and the Hawks could leave, but they cannot leave until the 2018-19 season at earliestwithout also forking over another $75 million in addition to the $123.5 million or so left remaining on the bonds.
But to an allegedly cash-strapped ownership group like the Spirit, which claims to have sold the Thrashers because they were in dire financial straights, good luck coming up with $200 million in additional capital to make that happen.
There are also probably about zero potential NBA cities that are willing to overpay by $200 million or even $75 million for that matter to move the Hawks out of town, either. (Keep in mind that the NBA may want a relocation fee, too, just like the $60 million fee that the NHL exacted from Winnipeg).
Posted 22 June 2012 - 06:14 PM
As much as I want a team here though, I wouldn't want the Hawks at ATL's expense.
Posted 22 June 2012 - 09:39 PM
Just like Wretch's reference to the SB article noted, NBA owners won't just nod their heads without exacting that relocation fee cash on any deal, especially for the vacation of a market this size. That on top of the $75 million AFCRA penalty and the debt financing will make a no-go for even the wealthiest suitors, especially as long as there are better financial options.
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