A Very American Coup By Michael – Louis Ingram, Editor-in-Chief...
Some Village May Be Missing Its Idiot
People of Seattle please hear me on this topic once again.
I want to say this as loud and as arrogant as I can.
HOWARD SCHULTZ IS A CANCER TO SEATTLE SPORTS!!!
You have to be a bumbling idiot to believe that Schultz was duped into selling the Sonics to Bennett. We all know why Howie sold the team; he was tired of losing money on a losing investment.
In the few seasons that he actually owned the team, he didn’t do that franchise or the city of Seattle any favors in trying to help keep it there.
Ask yourself this question: How could he let Nate McMillian leave for the Portland Trailblazers after he took them to one of their better playoff seasons ever?
Because Schultz is a moron as team owner.
He may know his coffee grinds but he doesn’t know a hill about beans when it comes to sports ownership.
Unless you are the pioneer billionaire in either the tech world or you have made your millions in oil, you can’t own these rich boy investments.
Think I’m not making sense? Ask yourself why Paul Allen can own an NFL AND an NBA franchise. Why can Jerry Jones afford America’s Team? Why can Mark Cuban go from being just a season ticket holder to owning one of the more lucrative NBA franchises in the country AND be poised to buy the Chicago Cubs, a MLB team, from the Tribune company? It’s simple. They are owners of high profitable companies that we all need in our daily lives.
We don’t need coffee every day to sustain us and that’s why Howie sold the team.
Did he try to find minority ownership groups that were locally based to help fray the costs? Nope.
Did he ask Steve Balmar to be a part of a consortium? Nope.
He tried to be a maverick in the Great Northwest and got his coffee mug handed to him in MickeyD fashion.
Schultz wasn’t duped into selling to Bennett and his Oklahoma buddies; he saw sure money and realized they could afford the losses better than he could.
Well to an extent he was correct but even rich oil barons worth several millions realize when that when a well is pumping water, its time to move it to another site.
Now you can blame Clay and the boys for uprooting your team but Seattle peeps, this has been a quagmire of a sports town for over a decade.
Any city that is going to ‘renovate’ a structure that has been around over twenty years needs to have its team taken from it.
Sooner or later you have to build a new stadium to tap into new resources.
Look at the New York Yankees or the Detroit Tigers. You don’t think those fan bases were upset that landmarks were being torn down? Sure they were but have you seen the replacements going up? The new Yankee stadium is befitting of the pinstriped team.
More importantly though successful sports franchises get new buildings to stay successful. Key Arena does not make any new team successful; it drains them of vital financial streams.
Bennett knew it when he bought the team; Schultz knew it when he sold the team.
So what did $350 million get Schultz?
For a while it was a financial peace that he had never seen.
But now he’s having ‘seller’s’ remorse.
Ladies and gentlemen there is no such thing as seller’s remorse when you sell an investment at $350 million.
There may be regret, but there is never remorse.
Howard Schultz is trying to save his business and civic reputation in Seattle; plain and simple.
This lawsuit is as baseless as the cheap coffee substitute you find in some sleazy hotel.
It’s time for Howie to accept the fact that he helped usher out an institution and just deal with the consequences that his decision brought about.
In other words, Howie please just go home and drown your sorrows in a good flavored latte; possibly something from Seattle’s Best or something.