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ClayK



Joined: 11 Oct 2005
Posts: 11105



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PostPosted: 12/24/18 11:18 am    ::: Reply Reply with quote

threadkiller1201 wrote:
ClayK wrote:
threadkiller1201 wrote:
ClayK wrote:
There are always "potential buyers" and "near deals" but in the 20+ years of the league's existence, no franchise has ever sold for actual dollars.


Seattle Storm? I remember reading something like 10 mil?


I think that was an "expansion fee," but my understanding was that the fee would be paid out of future profits, if ever.

By saying the cost was $10 million, the league was trying to set a market value for franchises, but reality intervened.


I meant when Force 10 bought it from the Oklahoma City group before they could move it from Seattle.


I had not heard that. I had heard that the OKC owner wanted no part of a WNBA team.



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threadkiller1201



Joined: 19 Sep 2005
Posts: 415



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PostPosted: 12/24/18 5:23 pm    ::: Reply Reply with quote

ClayK wrote:
threadkiller1201 wrote:
ClayK wrote:
threadkiller1201 wrote:
ClayK wrote:
There are always "potential buyers" and "near deals" but in the 20+ years of the league's existence, no franchise has ever sold for actual dollars.


Seattle Storm? I remember reading something like 10 mil?


I think that was an "expansion fee," but my understanding was that the fee would be paid out of future profits, if ever.

By saying the cost was $10 million, the league was trying to set a market value for franchises, but reality intervened.


I meant when Force 10 bought it from the Oklahoma City group before they could move it from Seattle.


I had not heard that. I had heard that the OKC owner wanted no part of a WNBA team.


Here's one article from wnba .com that mentions the 10 million number. I'll come back with another link. It's a great story how it happened, and that it happened.

http://webcache.googleusercontent.com/search?q=cache:MrloFsu-sgQJ:www.wnba.com/archive/wnba/storm/news/storm080108.html+&cd=3&hl=en&ct=clnk&gl=us&client=safariurl

http://www.espn.com/espn/wire/_/section/wnba/id/3185866


wbj



Joined: 16 Oct 2007
Posts: 10



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PostPosted: 12/24/18 6:17 pm    ::: Reply Reply with quote

Clay is correct....never an actual sale involving actual significant cash changing hands....


tfan



Joined: 31 May 2010
Posts: 9544



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PostPosted: 12/25/18 4:59 am    ::: Reply Reply with quote

Jayda Evans of the Seattle Times also reported that $10 million figure:

Storm sold to local owners


toad455



Joined: 16 Nov 2005
Posts: 22470
Location: NJ


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PostPosted: 12/25/18 9:02 am    ::: Reply Reply with quote

So did Magic Johnson & Co. pay any money to buy the Sparks? This article does say they purchased the team.

https://www.usatoday.com/story/sports/wnba/2014/02/05/magic-johnson-buys-los-angeles-sparks-wnba-nba-mlb/5229137/



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