View Full Version : Tax payers have to suffer because of NBA lockout.

10-20-2011, 02:13 PM
Tax paying citizens feel the financial pain that the NBA lockout has brought upon them. Tax payers of Oklahoma for example have invested over 200 million dollars in tax money for the Thunder Stadium to be built. This is the only pro team the city of Oklahoma has. The citizens are now "pursuing the Association to recover lost revenue from games being canceled."

The lockout is creating big dents in the economy of certain cities, especially during this time of recession.


10-20-2011, 02:50 PM
The owners think they're on top of the world and can do whatever they want without repercussions. Glad to see the local govt step up and putting pressure on them to start negotiating to get the season back.

10-26-2011, 08:22 PM
Hopefully this will play a part in getting the NBA up and running.

10-26-2011, 08:38 PM
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10-29-2011, 05:50 PM
This might happen in Memphis as well.

The FedEx Forum, the home of the Memphis Grizzlies, was financed by the issuing of $250 million in public bonds in 2002. Bonds have to be paid back on an annual basis, and a lost season will mean the city will lose many of the revenue streams that come from Grizzlies' home games, revenues that were earmarked in the budgeting process to pay those bonds.

Some economists have projected that this shortfall could cost the city almost $11 million dollars, over $600,000 annually, over the course of the bond. It's the last thing a city in the midst of a severe budget crisis, one that has forced it to cut the salaries of police officers, public library hours and staff and nearly 600 teaching positions, needsThe city has to pay these bonds back they are already laying off teachers and cutting police officers salaries, now they might have to find a way to cut more from their budget if there isn't a season. I'm not blaming this on players or owners, both sides deserve their fair share of the fault.