Blazers Off Market; Rose Garden Likely to Follow
So, Paul’s in for the long-haul, eh?
Interesting revelation, given a few short months ago “the financial model was broken” and Allen (or any buyer) was going to have to face the notion of losing hugely unpalatable dollars owning the franchise.
Interesting, given that Allen went hat-in-hand to the city trying to get some sort of welfare.
Interesting, given that Allen had David Stern ramped up in the business of helping identify and recruit buyers for the franchise.
Am I surprised? Yes and no.
I certainly have advocated for the departure of Allen. And I’ve certainly identified Allen as one of the key parts of the Blazers problem.
I’ve also recognized Allen’s recent re-engagement with the team, as was evidenced in the recent NBA Draft and his active participation in the goings-on in the Blazers war-room that day.
When Allen (well, when Allen’s handlers) notified the world that the team was available to be bought, I thought to some extent it might be a negotiation tactic. But I was caught up in the hope and expectation that we were seeing a failed business enterprise being put forward for someone to come redeem. And I bought in.
However, one can’t see the recent sales discussion for what it was: a negotiation tactic. Much like Allen used the prospect of bankruptcy to try to force the Rose Garden bond-holders to cut him a better deal, so too did Paul Allen use the prospect of a sale and, implicitly, the possible movement of the team to try to get subsidies from the cities and, no doubt, concessions from the arena’s owners based on the prospect of losing a huge tenant.
In the end, it ends up being the same story with Allen: call him on his shenanigans, and you’ll come out on top. Just as the bond-holders won the face-off on the bankruptcy (sure, they’re stuck with the building, but the money coming in from the onerous Blazer lease has to be some consolation, as they continue to stick it to PA), the City won by casting Paul as a billionaire trying to improve his lot on the backs of the beleagured and abused Blazer faithful, and Paul backed down from the sale.
Where does that leave us?
Well, Paul has always been an active owner. That won’t change. His involvement with the team has had good points, demonstrated when he was willing to invest his money in the product, and bad points, demonstrated when he worried about the on-court product at the expense of the franchise’s soul.
I think Paul’s learned some lessons. He seems honestly committed to bringing in character wed with skill, talent mixed with heart. And he seems to be willing to let the basketball minds make the moves that need to be made. If he maintains this approach to the franchise, his participation will be welcome.
The Blazers aren’t for sale? That may be true. For now.
Let’s look down the road, though. One can’t believe that Paul’s decided that the broken model will work itself out. Unless things change radically in the next two seasons, in terms of fan support and team performance, does Paul Allen really have the stomach to keep riding this roller coaster? And does he have the will to continue to bleed green?
It seems that no provision has (yet) been made for Allen to re-acquire the Rose Garden. I predict that, unless we hear something in the next 6 months about significant progress in that regard, we’ll hear talk again about the franchise being sold.
That said, I think we’ll hear something about Allen reacquiring the Rose Garden within the next month. To me, that’s the only way this new decision makes any sense, at least financially.
Of course, who’s ever accused Paul Allen of making any sense?
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Altho he likes rockets, this isn’t rocket science where Paul Allen is involved, people. He likes his hoops; he loves Seattle. The Sonics are moving (next year) and so will the Blazers…after that. For more on my crackpot theories, come visit http://www.kazablog.com (read it & weep if you’re a Blazer fan!)