Cannot find my copy of the lease agreement. But did not the Grizzlies contract have an out clause after 10 years if attendance dropped to a certain level?

(08-11-2017 10:07 AM)ncrdbl1 Wrote:  Cannot find my copy of the lease agreement. But did not the Grizzlies contract have an out clause after 10 years if attendance dropped to a certain level?

That was in the original lease, but I think it only made the buyout smaller. But I don't know if it is in the new lease.

moot point funyuns

sorry, they're here to stay :)

looking forward to getting a new pro soccer team too.....all the more reasons to pay zero attention to memphis motorsports

(08-11-2017 11:07 AM)k2tigers Wrote:  moot point funyuns

sorry, they're here to stay :)

looking forward to getting a new pro soccer team too.....all the more reasons to pay zero attention to memphis motorsports

You mean the tier 3 NPSL Memphis FB Club team which finished 6th in their division with a 5-3-4 record and no fans. 48th out of 96 teams

(08-11-2017 12:03 PM)ncrdbl1 Wrote:  

(08-11-2017 11:07 AM)k2tigers Wrote:  moot point funyuns

sorry, they're here to stay :)

looking forward to getting a new pro soccer team too.....all the more reasons to pay zero attention to memphis motorsports

You mean the tier 3 NPSL Memphis FB Club team which finished 6th in their division with a 5-3-4 record and no fans. 48th out of 96 teams

Spend the $5 per month for the digital edition to stay informed -- Memphis likely getting USL

What makes you think attendance is anything close to that contract threshold?

http://www.sportsbusinessdaily.com/Daily...Lease.aspx

The lease contract, which runs through '29, contains a clause stating "it can't be broken in the first 17 years of its existence." Additionally, after '21, the contract "remains intact unless attendance falls below some prescribed marks." Three figures are at play, and they are an "average paid attendance" of 14,900; sales of the largest 64 suites; and club seat season-ticket sales of 2,500. If "any of those are not met" in the '19-20 season, a window would "open by which the owner could -- but not necessarily would -- break the contract." Veazey also noted departure would "come at a cost." In '21, it would be $63.2M, and it "step-ladders its way through" the '27-28 season, at which point it would only cost $8.4M to leave.

https://www.statista.com/statistics/1975...ince-2006/

Grizz were in the playoffs in 05-06 season.

06-07 attendance --- 14,654 (no playoffs)
07-08 attendance --- 12,770 (no playoffs)
08-09-----------------12,450 (no playoffs)
09-10-----------------13,485 (no playoffs)
10-11-----------------14,650 (this is the year we started going to the playoffs)
11-12-----------------15,490
12-13-----------------16,624
13-14-----------------16,718
14-15-----------------17,329
15-16-----------------16,697
16-17-----------------16,519
-----------------------------------------------------------------------


Even a 63 million dollar fine in 2021 to move the team isn't that bad if you add it to the cost of the team. The estimated value of the team is $790 million. Pera paid approximately $377 million for the team. I believe heisley offered the team to potential local buyers for less than that. Imo, local owners should have bought the team. They missed out on an opportunity to not only make money but to ensure the team stayed in memphis.

Grizz management has made some bad decisions lately in contracts. They got the team all screwed up right now. They have recently removed some favorite players. If the grizz fail to make the playoffs the next two years, what will attendance be in the 19-20 season?

A couple more things: Robert pera doesn't seem interested in being in memphis. Also, there is some deal between pera and kaplan (another grizz owner with big $) where one could buy the other out which makes me worry about the stability of the franchise.

(08-11-2017 02:30 PM)BinghamptonNed Wrote:  

(08-11-2017 12:03 PM)ncrdbl1 Wrote:  

(08-11-2017 11:07 AM)k2tigers Wrote:  moot point funyuns

sorry, they're here to stay :)

looking forward to getting a new pro soccer team too.....all the more reasons to pay zero attention to memphis motorsports

You mean the tier 3 NPSL Memphis FB Club team which finished 6th in their division with a 5-3-4 record and no fans. 48th out of 96 teams

Spend the $5 per month for the digital edition to stay informed -- Memphis likely getting USL

"MAY" be getting team and then with 90% of the potential fan base located in the Germantown Cordova, Collierville area they want to play downtown in a baseball stadium. Instead of adding an extra set of stands in a real soccer com0plex next door tot he fan base.

Not to mention that the USL is currently involved in legal action against MLS which no matter which way the court rules will damage relations between the league and has the potential to severely damage soccer in the US.

MSL is currently operating in a way which violates FIFA regulations and if they win the case the FIFA could pull accreditation of the league. Then you would be left with players who are at the end of their careers. Or upstarts which has no ability to play internationally.

(08-12-2017 07:49 AM)tmoneyinmphs Wrote:  http://www.sportsbusinessdaily.com/Daily...Lease.aspx

The lease contract, which runs through '29, contains a clause stating "it can't be broken in the first 17 years of its existence." Additionally, after '21, the contract "remains intact unless attendance falls below some prescribed marks." Three figures are at play, and they are an "average paid attendance" of 14,900; sales of the largest 64 suites; and club seat season-ticket sales of 2,500. If "any of those are not met" in the '19-20 season, a window would "open by which the owner could -- but not necessarily would -- break the contract." Veazey also noted departure would "come at a cost." In '21, it would be $63.2M, and it "step-ladders its way through" the '27-28 season, at which point it would only cost $8.4M to leave.

https://www.statista.com/statistics/1975...ince-2006/

Grizz were in the playoffs in 05-06 season.

06-07 attendance --- 14,654 (no playoffs)
07-08 attendance --- 12,770 (no playoffs)
08-09-----------------12,450 (no playoffs)
09-10-----------------13,485 (no playoffs)
10-11-----------------14,650 (this is the year we started going to the playoffs)
11-12-----------------15,490
12-13-----------------16,624
13-14-----------------16,718
14-15-----------------17,329
15-16-----------------16,697
16-17-----------------16,519
-----------------------------------------------------------------------


Even a 63 million dollar fine in 2021 to move the team isn't that bad if you add it to the cost of the team. The estimated value of the team is $790 million. Pera paid approximately $377 million for the team. I believe heisley offered the team to potential local buyers for less than that. Imo, local owners should have bought the team. They missed out on an opportunity to not only make money but to ensure the team stayed in memphis.

Grizz management has made some bad decisions lately in contracts. They got the team all screwed up right now. They have recently removed some favorite players. If the grizz fail to make the playoffs the next two years, what will attendance be in the 19-20 season?

A couple more things: Robert pera doesn't seem interested in being in memphis. Also, there is some deal between pera and kaplan (another grizz owner with big $) where one could buy the other out which makes me worry about the stability of the franchise.

Grizz averaging 16,139 fans per game this year, and it's reasonable to think that average may lower as the losses mount. The favorite player and the heart of the team is not here anymore. The coach has been fired. Fans have no clue where the grizz are heading, but it's not the playoffs. Mike conley's achilles's injury is a big concern. Marc gasol is being a diva throwing his teammates and coach under the bus, but it seems the grizz will stick with him and mike. Chris wallace says everything is fine and they are not just out to make the playoffs. The owner of the grizz remains silent. The clause between robert pera and kaplan has been activated. Who knows what will happen with that.

Again, you will have the 17-18 and 18-19 seasons here, but if attendance goes under 14,900 in the 19-20 season or the other stipulations aren't met, the team could be moved.

Honestly, i think that is where it's all heading. I hope i'm wrong. I think we got 3 years left with this team.

Tickets sold.

All those years.