Bob Funk to buy Hornets?

[Patrick]

If the Hornets have a successful first season in OKC, I think Bob Funk should put up the money to purchase the Hornets and keep them here. With a local investor, they'd surely stay here. Otherwise, we risk the chance of losing them. Bob Funk isn't going to invest in something that won't make money though, so the first year or two will be key.

[John]

George Shinn seems to be pretty happy with OKC at this point. He's owned the team since 1988, something I dont see changing anytime in the near future.

I don't believe Mr. Funk is involved with the local investor group. His name wasn't announced, and I assume it would have been had he been a player. I could be wrong, but maybe someone else might know more.

[upisgr8]

Stealth Funk....under the radar you will find enormous envolvement via Express Sports.

[swake]

What is Bob Funk net worth? Seems like owning a NBA team could be a real reach there.

[swake]

Forbes puts the worth of the Hornets at $225 million, so if they were offered for sale they could probably go for around $300 million, not sure if he is worth anything like that amount.

[mranderson]

Forbes puts the worth of the Hornets at $225 million, so if they were offered for sale they could probably go for around $300 million, not sure if he is worth anything like that amount.

He would probably form a corpration with other investors. This is done all the time in oil exploration. It is called "promoting a well."

[Hammond]

It's been published that Funk is not involved in the investment group. There are 4 private investors, led by Clayton Bennett, and Funk is not among them.

I've followed the Blazers and RedHawks, their ownership transactions etc. for years. Actually, while the hockey team has indeed been very gracious about moving their team across the street to the Cox Center for 7 games in the upcoming season, they (and the Yard Dawgz as well) really have no choice. An NBA "out" clause appears in their Ford Center leases that provides for any adjustments necessary to accomodate an NBA team.

Funk is probably be more concerned privately about the financial impact to the Blazers and RedHawks. I'd be (pleasantly) surprised if Express Personnel even signs up for a corporate sponsorship with the Hornets.

Just my 2 cents.

[John]

I don't think the Blazers or Redhawks have too much to worry about.

The only drawback for the Blazers is that on nights where both them and the Hornets have games, Blazers fans might gripe about the parking. The Blazers have a core group of fans that I would imagine are going to stick with their team.

The Redhawks just broke their attendance record this past season, and there is minimal overlap with their schedules. Oklahoma has supported baseball since before statehood. There is nothing like the experience of going to a baseball game in the summer. Americana at its finest.

[Hammond]

John,

I appreciate your comments however, it isn't the fan base or schedule conflicts that will concern the Blazers or RedHawks. The RedHawks have done a great job or invigorating their fan base and there is a diminishing, but devoted, group of minor league hockey fans. The Blazers have not done much in years to keep their product interesting to more than a core following.

What will make or break the teams will not only be ticket sales, but corporate sponsorships. Our corporate market has never previously had the opportunity to support teams at the major league level. I feel very sure corporate sponsors, as well as individual fans, will open their arns and pocket books widely for the opportunity to support NBA in OKC.

The Blazers probably gross less than 10% of what the Hornets hope, total. The Hornets are looking to do at least $40 mill. So, if you were the big cheese at ACME corp. in OKC and had big bucks to spend... question one: Who would you support... a hockey team at the aa level with exposure to markets like Amarillo, Corpus, Tulsa, Bossier/Shreveport, Wichita, etc. and sluggish attendance, or NBA with exposure to tier one and two markets and projected attendance of 12k per game? Question two: how much will you have left in your marketing budget to support the remaining sports franchises after you cover the nut for NBA?

My point being the market is about to experience major league marketing and sales as well as major league basketball. There won't be many crumbs left for others.

[karlanee]

I'm just glad he hasn't reached the point where everything he touches has to be named after him, like the Gaylords.

[scotplum]

I'm just glad he hasn't reached the point where everything he touches has to be named after him, like the Gaylords.

LOL, the Oklahoma City Funk....I kinda like it!!

[karlanee]

Too funny!! I like it too!!

Although, it doesn't say much about OKC. LOL

[upisgr8]

F.Y.I.
I found this interesting, but not surprising:
According to this year's Scarborough Adult Study, a higher percentage of adults read the sports section in Oklahoma City (48) than in New Orleans (47), Salt Lake City (45), Sacramento (44), San Antonio (43), Portland (42) or Memphis (41). Oklahoma City also ranks higher than all those NBA markets in the percentage of adults who go online to read about sports, according to the study.

[jbrown84]

I believe Funk commented on the effect of the Hornets on his teams and it sounded like he wasn't exactly jumping on the bandwagon.