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Big Pony

Goodbye

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But when you've lost 20% of your season ticket holders and 60% of your TV audience in just two years, the OP has a lot of company.

 

So?

 

I mean, seriously, so? The whole point of the last CBA go-round was to protect the owners from themselves, and they succeeded beyond what anyone thought they could. Nearly every team turned a profit, usually by at least 10m. Even the Magic made 12 million in profit in 2013, and that was a full year of being awful.

 

Temporarily losing fans for 2-4 years is meaningless.

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So?

 

I mean, seriously, so? The whole point of the last CBA go-round was to protect the owners from themselves, and they succeeded beyond what anyone thought they could. Nearly every team turned a profit, usually by at least 10m. Even the Magic made 12 million in profit in 2013, and that was a full year of being awful.

 

Temporarily losing fans for 2-4 years is meaningless.

 

Even more amazing considering they paid out over $45M to released players in Arenas, Q-Rich, Hedo, BBD and Harrington.

 

The players NOT on the team made more than ones who actually played. :panicworker:

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Even the Magic made 12 million in profit in 2013, and that was a full year of being awful.

Orlando Magic CEO Alex Martins said Wednesday that the franchise still doesn't make a profit, despite a claim to the contrary by Forbes.

 

In its annual estimate of NBA franchise values, Forbes listed the Magic's annual operating income — the team's earnings before interest, taxes, depreciation and amortization — for the prior year at $12.3 million.

 

When asked about that figure, Martins said Forbes' estimate of the team's annual operating income is inaccurate.

The assertion that the Magic made a profit last year is inaccurate," Martins told the Orlando Sentinel before the Magic played the Atlanta Hawks.

"We did not make a profit last year. We have not made a profit in over a decade. That's a product primarily of the DeVos' approach that they're going to continue to reinvest in the business and continue to reinvest in the product on the floor. But to assert that we made an operating profit last year is completely inaccurate."

http://www.orlandose...0,4222863.story

 

Your degree obviously isn't in accounting either.

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I'm pretty sure he fully understood the facts as they were presented. You presenting one article that offers a different set of facts from the one he read doesn't make him wrong or you right.

I'm pretty sure he doesn't, but since he never provides a link to support his claims, it's difficult to tell. The Forbes article indicates the $12M is operating income, and Drunk on Mystery claims the Magic made $12M in profit. Big difference.

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Some light reading for you.

 

 

To quote Paul Beeston: "I can turn a $4 million profit into a $2 million loss and I could get every national accounting firm to agree with me."

Is this your folksy way of saying figures lie and liars figure?

 

Since the Magic are privately held, national accounting firms are completely irrelevant to your argument. I see you subscribe to the notion if you can't dazzle them with brilliance, baffle them with bull****.

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And operating income (from the Forbes article) isn't the same as operating profit.

 

You're working very hard for this pat on the back, but what the hell, you earned it:

 

You are correct. I used the wrong terminology.

 

My overall point doesn't really change, but you are correct that I did say profit instead of income, which is a conflation that is, oddly, exactly in line with the one that Alex Martins made in the link you posted.

 

Weird.

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Truth is no one really knows without getting the Teams audited financial Statements but they can easily spin either way in the media.

 

I think it is safe to say that the appreciation in the value of the franchise easily offsets any losses they have suffered.

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Is this your folksy way of saying figures lie and liars figure?

 

Since the Magic are privately held, national accounting firms are completely irrelevant to your argument. I see you subscribe to the notion if you can't dazzle them with brilliance, baffle them with bull****.

 

No, it means that since the Magic refuse to make their books public, and their claims regarding the franchise's profitability are suspect at best, the smartest thing to do is to look for analogues. In this case, the simplest method is to look at other teams who have made comparable claims before their information was made public and to see how those claims held up to scrutiny.

 

And in most cases, the answer was "They didn't."

 

I'm happy to concede the point that I haven't actually seen the Magic's books, and that it's entirely possible that Alex Martins was being completely honest when he said that the team had an operating loss every year for a decade, including the Finals year I guess.

 

Of course, you would have to then concede that you haven't seen the Magic's books either, and that multiple other teams' who've claimed to have huge operating losses were later revealed to have varying profits.

 

So you know: Meh.

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