ceejay
09-21-2005, 04:01 PM
http://www.newsok.com/article/1621680/?template=home/main
The deal calls for the city, the state and a private investment group to share the risks and rewards of having the National Basketball Association franchise at the Ford Center. The group will guarantee $10 million if the franchise struggles and misses its $40 million revenue goal.
If the team is successful, the partners will make money. The team will play 35 of its 41 games in Oklahoma City, with the remaining six games to be played in Louisiana, according to the deal approved today.
City Manager Jim Couch said the city team needs to average more than 10,000 spectators a game to reach its revenue goal.
The team will officially be known as the N.O./Oklahoma City Hornets for games played at Ford Center.
The deal calls for the city, the state and a private investment group to share the risks and rewards of having the National Basketball Association franchise at the Ford Center. The group will guarantee $10 million if the franchise struggles and misses its $40 million revenue goal.
If the team is successful, the partners will make money. The team will play 35 of its 41 games in Oklahoma City, with the remaining six games to be played in Louisiana, according to the deal approved today.
City Manager Jim Couch said the city team needs to average more than 10,000 spectators a game to reach its revenue goal.
The team will officially be known as the N.O./Oklahoma City Hornets for games played at Ford Center.