Quote:
Originally Posted by TripletDaddy
Why would the Lakers receive any money for the Staples Center? The Lakers are just a tenant, like the Clippers.
The Staples Center was built by the owner of the LA Kings (Ed Roski), Anshutz Entertainment Group, and Rupert Murdoch/Fox.
AEG was involved because it was angling to develop more land in the blocks surrounding Staples.....that development has recently come to fruition in the form of the Nokia Theater, across the street from Staples.
Fox bailed out when Rupert decided to buy DirecTV...several years ago, Fox sold its 40% share in Staples to AEG. It also freed up cash by selling the Dodgers, I believe.
Now Anshutz is the majority owner. I dont think the Lakers own any of the Staples Center.
Look, here is the deal....your premise was wrong. You were wrong about who owns the Staples Center (even a basic google search would have answered your question), you were way off on Kobe's salary (again, a basic google search would answer that in less than 1 minute), and you were wrong about how the building was financed. Your entire premise was sloppy and poorly-researched.
Now you are retreating, leaving yourself a little wiggle room by allowing that every team in the NBA other than the Lakers operates this way. Your entire post is based on a short internet blurb which, not coincidentally, doesnt list any specific teams, either.
Now if you have had enough being bent over the barrel, please use lube next time because this go-round was not enjoyable for me. I prefer a little challenge in my men. Take your weak WNBA game somewhere else.
PS Happy 4th of July to you and your family!
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So neither the City nor the Lakers don't own the Staples Center. But somebody was subsidized by taxpayers in order to enable them to in turn susidize the lakers. For one thing, the muni bonds are tax exempt, which means the interest rate on the arena financing is way below market. I'm sure that's not all. Your post evinces deep involvement by LA taxpayers.
Of course the Lakers aren't paying a fair rental rate, a high enough rate to enable the owners of the arena to retire any debt and otherwise amortize cost of the building and make a profit absent taxpayer subsidy. That's how it works in the real world.