Quote:
Originally Posted by rage2
Regardless of the underlying factors on why owners had to sell, the new owners/existing partners bought the assets at a discount, getting an arena cheaper than it would cost to construct, before it became financially successful. Money has to come from somewhere, in this case the arena was effectively subsidized by the previous owners losses in the sale.
It’s like saying look how much money GM is making today, they would’ve been successful anyways, ignoring the fact that bankruptcy wiped out a huge amount of debt. Money has to come from somewhere.
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How much money did the owners make on the sale of the teams?