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How did we lose this much money

Chuckie

By Chuckie,
in Charlotte Hornets

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Chuckie Newbie

Chuckie

Posted
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A story on the grantland.com website says the Hornets lost about $12 million last season, despite a $22 million revenue-sharing payment from the NBA.

Grantland writer Zach Lowe obtained a confidential NBA memo describing league-wide finances for the 2013-14 season. According to that story, the Hornets basketball operation ran at a $34 million loss, which was partially negated by the $22 million revenue-sharing payment – largest the NBA redirected under new rules attached to the collective-bargaining agreement.

Might need to temper my expectations on who we sign in free agency.

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mj4life Newbie

mj4life

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Since the NBA 's fiscal year just ended a couple days ago I doubt these numbers are for this year plus Forbes reported the Hornets making a 7 million profit last year. It has also been reported that the new revenue sharing & expected TV deal will make it possible for every team to brake even at minimum ( unless you go crazy like the nets)

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rmoneyg35 Proficient

rmoneyg35

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Since the NBA 's fiscal year just ended a couple days ago I doubt these numbers are for this year plus Forbes reported the Hornets making a 7 million profit last year. It has also been reported that the new revenue sharing & expected TV deal will make it possible for every team to brake even at minimum ( unless you go crazy like the nets)

The bobcats have always had these kinda problems I believe. Attendance is usually low and if you can't sell tickets you can't make money. I think changing into the hornets will help boost ticket sales and overall profit. The Bobcats are normally a bad team and it's hard to make money with a team that is consistently bad from year to year.

Sent from my iPhone using CarolinaHuddle

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ckad79 Newbie

ckad79

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It's hard to sell a bad product when the brand stinks. I know people will argue that the Bobcats were terrible, and winning is all that matters. Still, you could ask somebody who was born and raised in Little Italy and they would you that Pizza Hut pizza is garbage because it's a pile of deep frozen frozen mess.

 

Still, millions of people love it and think it's the BEST! Why? Because it's branded well. It's got a good name, good logo, good brand... folks identify with it and want it. A good brand can make up for a weak product. A weak product, can't save a bad brand though.

 

The Bobcats brand was complete poo. Let's be honest with ourselves. Nobody is saying that if we slap on a Hornets uniform and add Hugo, we'll start to win but from a branding perspective and needing a solid brand to find a following, it makes total sense. MJ would have been a fool to keep the Bobcats brand, when the Hornets brand was available. Even if a handful of fans out there, may still be upset that they are no longer called the 'cats.

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thatlookseasy Newbie

thatlookseasy

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Thought that only cost about 3.5 million.

 

Thats only the fee to the NBA to change the name, but I would assume there are a lot of other costs involved with the re-branding effort.  Designing new logos, jerseys, court, arena, producing new merchandise (while writing off all the old bobcat stuff), marketing the name change.

 

Plus you have a team with very little local support (coming off 2-3 very bad seasons), that just increased payroll significantly with the Jefferson signing and the Tyrus Thomas amnesty (that dude is still getting checks though he doesnt count towards our cap number).

 

Next season should see a lot of this investment pay off though, the team on the court should keep improving and capitalize on the local interest from the name change.  A winning team and interested fans means a lot more leverage for a better local TV deal

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