Comments on Advance Indiana™: Cry A River For The Simons

Chief of ProtocolGladys Boluda is 'acting' CoP

2009-03-06T11:34:00.000-05:00

Chief of Protocol

Gladys Boluda is 'acting' CoP

But what a tax break! With these kinds of breaks, ...

2009-03-06T05:41:00.000-05:00

But what a tax break! With these kinds of breaks, who needs Switzerland or the Cayman islands?

$ob...$ob!

2009-03-06T04:07:00.000-05:00

$ob...$ob!

Gary keep yourself right in the middle of SUNSHINE...

2009-03-06T04:04:00.000-05:00

Gary keep yourself right in the middle of SUNSHINE!

If they can't afford to operate the building, it s...

2009-03-05T23:13:00.000-05:00

If they can't afford to operate the building, it shouldn't have been built. Wasn't the reason for building it so that they could increase revenues?

Market Square seated over 16,000 people if memory serves, easily accommodating the 13,900 or so the Pacers are currently averaging.

They complain because salaries for players are out of control. The team owners caused that, the Pacers can choose not to participate although that risks the quality of their product. I don't see where it is appropriate for government to forcibly transfer money from poor and middle income people so that it can be transferred to millionaire players of sports, their management and their owners.

I would hate to see them leave, but AI makes a great point as well that getting a big giveback from the city raises the value of the team. $15 million a year, depending on the valuation multiple could easily mean anywhere from $45 to $150 million in additional value.

This problem probably isn't isolated to Indiana. The national NFL folks laid off around 15% of their staff recently. Sports franchises need to scale back.

It's my belief that the Simons have every intentio...

2009-03-05T21:12:00.000-05:00

It's my belief that the Simons have every intention of selling the Pacers. First, they want to get a sweetened taxpayer subsidy to up the selling price for their franchise. That's their end game.

Obama today said this:"Nothing is harder in politi...

2009-03-05T20:22:00.000-05:00

Obama today said this:

"Nothing is harder in politics than doing something now that costs money – in order to gain benefits 20 years from now."

Is he hinting that his recent actions are going to take 20 years to possibly show a benefit?

I have long felt politicians time their actions while in office so nothing blows up during their term. When the s**t DOES his the fan, no big deal because the next guy takes the blame.

Seems Obama may have shown his hand on this one.

The Simons have no one but themselves and Larry Bi...

2009-03-05T20:18:00.000-05:00

The Simons have no one but themselves and Larry Bird for filling the team with thugs, druggies, women beaters and criminals and then acting suprised when they behaved like they did. They then seemed suprised when the city and state voted NO with their ticket money to the thug kingdom. I probably will never attend another Pacer game and dont even follow them ..I couldnt even tell you the starting 5. It is as if they don't exist.

There is one very simple solution to the Simon's d...

2009-03-05T20:11:00.000-05:00

There is one very simple solution to the Simon's delimma. Sell the team. Current market value per Forbes estimated the team is worth about $300 million, assuming a buyer could be found.
When the Simons bought the Pacers I believe they paid about $12 million for it.
Not bad asset appreciation by anyone's standards.
If the Simons are actually losing that kind of money then they would have put the franchise on the market years ago. That's how the Simons do things. Never believe they intentionally operate anything at a loss.
Owning a professional sports franchise is an ego trip. Trust me, operating at a loss of $200 million will deflate the biggest of heads.
My advice to Mel and Herb, spare us the insult of more taxes and just sell the damn thing. It' a wise business decision to do so.

At this point, the only ones with any money left t...

2009-03-05T20:10:00.000-05:00

At this point, the only ones with any money left to give them is the players. Maybe they can turn it into an employee-owned enterprise.