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May 26, 2012
Why buy an NBA team?
TrueHoop [ESPN.com]
by Henry Abbott
There are 100 reasons to buy an NBA team. I'm sure some people will tell you it's a good business, and for some people it probably is. There are tax advantages. In places like Salt Lake City and Oklahoma City, owners talk convincingly of civic duty.
For Bruce Ratner, a team offered a sophisticated real estate play, because a stadium was a key to using eminent domain for his sprawling downtown Brooklyn Yards [sic] development. For Mikhail Prokhorov, it made him an internationally recognized name, which did wonders for his domestic political career.
Posted by eric at May 26, 2012 10:04 AM