Vancouver, a city known for its love of sports, is eager to have an NBA team. The commissioner of the NBA, Adam Silver, recently mentioned the ongoing interest in Vancouver during a Boston Celtics TV broadcast. He acknowledged that there is still interest in the city, along with interest from Montreal.
However, the question remains: who would own the team? Francesco Aquilini, the owner of Rogers Arena and the Vancouver Canucks, has expressed interest in having an NBA team in Vancouver. However, he has also stated that the high cost of the expansion fee, which is now around $2.5 billion, is prohibitive.
One of the challenges of owning a team without owning the arena is the limited ability to make money off the asset. Chris Gear, a local sports consultant, explained that if you don’t control your own building, you have to share revenue with the building owner. This could significantly diminish the ability to generate income, especially considering the high purchase price.
Another option for a prospective owner would be to build their own arena. However, Vancouver already has B.C. Place, Rogers Arena, and the Pacific Coliseum, which is currently without a significant tenant. Building another basketball-specific facility seems unlikely, and Gear suggests that the current owners of the Canucks could partner with someone else who would own the team, allowing for revenue splits.
Regardless of where the team plays, a practice facility would be necessary. This is now a standard requirement in the NBA, and the team would need to find a suitable location to build one.
The enthusiasm for an NBA team in Vancouver is evident, and many believe that the city deserves another chance after the departure of the Vancouver Grizzlies in 2001. Former NBA commissioner David Stern expressed regret over the team’s relocation, acknowledging that it was never about a lack of fan enthusiasm.
While the interest in bringing an NBA team back to Vancouver is strong, the question of ownership and the high cost of an expansion fee remain significant hurdles. However, with the city’s passion for sports and the potential for a lucrative market, it’s possible that a solution will be found in the future.Vancouver, a city known for its love of sports, is eager to have an NBA team. The commissioner of the NBA, Adam Silver, recently mentioned the ongoing interest in Vancouver during a Boston Celtics TV broadcast. While the league seems open to the idea, the question of who would own the team remains.
Francesco Aquilini, the owner of Rogers Arena and the Vancouver Canucks, has expressed interest in having an NBA team in Vancouver. However, he has also stated that the high cost of the expansion fee, which is now estimated to be around $2.5 billion, is prohibitive. It is unlikely that Aquilini’s interest will grow considering the steep price tag.
One challenge for potential owners is the issue of not owning the arena. Chris Gear, a local sports consultant, explains that not controlling the building, food and beverage revenue, and ticket surcharges would significantly diminish the ability to make money off the team. Additionally, the debt associated with buying a team without owning the arena would be a significant burden.
Another option for a prospective owner would be to build their own arena. However, Vancouver already has B.C. Place, Rogers Arena, and the Pacific Coliseum, which is currently without a significant tenant. Building another basketball-specific facility seems unlikely, and it may be more feasible for the current owners of the Canucks to partner with someone else who would own the team.
Regardless of where the team plays, a practice facility would be necessary. Practice facilities have become a standard requirement in the NBA, and Vancouver would need to find a suitable location to build one.
The NBA’s previous attempt in Vancouver, with the Grizzlies, did not work out. However, Silver’s predecessor, David Stern, expressed regret over the team’s relocation to Memphis in 2001. With the ongoing interest in Vancouver and the city’s passionate sports fans, there is hope that an NBA team could find success in the city once again.Vancouver, a city known for its love of sports, is eager to have an NBA team. The recent comments made by NBA Commissioner Adam Silver have only fueled the excitement among basketball fans in British Columbia and across the league.
During a recent interview on the Boston Celtics’ TV broadcast, Silver acknowledged the interest in bringing an NBA team back to Vancouver. He praised the Toronto Raptors for their success in becoming “Canada’s team” and mentioned that there is ongoing interest from other big cities, including Montreal and Vancouver.
However, the question of who would own the team remains a significant hurdle. Francesco Aquilini, the owner of Rogers Arena and the Vancouver Canucks, has expressed interest in having an NBA team in Vancouver. However, he has also stated that the high cost of the expansion fee, which is now estimated to be around $2.5 billion, is prohibitive.
Aquilini’s reluctance to pay such a hefty fee is understandable, as it would make it challenging for the team to generate enough revenue to cover the costs. Without owning the arena, the team would have to share revenue from food and beverage sales and ticket surcharges with the building owner.
Chris Gear, a local sports consultant and former Vancouver Canucks employee, highlighted the challenges of not owning the arena. He emphasized that the ability to make money off the team’s assets would be significantly diminished, especially considering the high purchase price.
One alternative for a prospective owner would be to build a new arena. If someone could afford the billions of dollars required for an expansion fee, constructing a state-of-the-art venue would not be an issue. However, the feasibility and financial viability of such a project would need to be carefully considered.
While the desire for an NBA team in Vancouver is strong, finding an owner willing to pay the steep price and navigate the challenges of not owning the arena remains a significant obstacle. Nevertheless, the enthusiasm and support from fans in Vancouver continue to fuel hope for the return of professional basketball to the city.