Tom+Ziller

In 2010 and 2011， six NBA teams were sold. Since then， six more franchises have changed hands. Together， that represents 40 percent of the league. Yet， it does not appear a single NBA franchise is currently up for sale.

2010年和2011年，六支NBA球隊遭到出售。在那之后，又有六支球隊換了老板。加在一起，這意味著聯(lián)盟有40%的球隊出現(xiàn)過所有權(quán)變更。但是現(xiàn)在，沒有一支NBA球隊被擺上貨架。

Is the NBA simply stable now？ Or are there other elements at play？

NBA就是穩(wěn)定下來了嗎？還是有其他因素？

The global economic crisis seemed to spur on at least a couple of the earlier sales in the 2010-11 sale boom， and at least one post-2012. That worldwide recession appears to have made luxuries like NBA franchises more like movable liabilities than must-have assets.

全球經(jīng)濟危機對2010-11出售潮中的一部分產(chǎn)生了刺激作用，同時也是2012年后一批球隊出售的原因。全球經(jīng)濟衰退導(dǎo)致NBA球隊這樣的奢侈品更多地成為一種債務(wù)，而非必須擁有的資產(chǎn)。

Bruce Ratner apparently sold the Nets to Mikhail Prokhorov under some level of financial duress at he attempted to get his Atlantic Yards development in Brooklyn done. Bob Johnson is the only NBA franchise owner in history believed to have sold for no profit — he unloaded the Hornets on Michael Jordan in 2010 as the team floundered. The NBA itself famously took the now-Pelicans off George Shinns hands in 2010， fearing collapse of the market and missed payroll. The Maloofs， who suffered mightily due to Las Vegas particularly acute downturn circa 2008， held onto the Kings until 2013， but eventually solid for liquidity.

布魯斯·萊特納顯然是為了在布魯克林完成“大西洋園”項目而遇到財務(wù)危機時才將籃網(wǎng)出售給米克哈爾·普羅霍羅夫。鮑勃·約翰遜被認為是歷史上唯一一個出售球隊時未能獲得盈利的老板——2010年黃蜂跌入低谷時，他把球隊賣給了邁克爾·喬丹。聯(lián)盟也曾因為擔(dān)心市場觸底及無法支付工資而在2010年從喬治·辛手中接管了現(xiàn)在的鵜鶘。馬魯夫兄弟受到2008年開始的拉斯維加斯經(jīng)濟下滑的影響，盡管一直持有國王直到2013年，但最終他們還是為了變現(xiàn)而賣出了球隊。

None of these franchise owners， with the potential exception of Shinn and possibly the Maloofs， were at risk of suffering so mightily during the economic crisis that they could have lost their teams to creditors. But the NBA teams represented unnecessary burdens in their portfolios.

除了辛及馬魯夫兄弟外，其他NBA球隊的老板在經(jīng)濟危機中遭受的打擊并沒有大到需要將球隊抵押給債權(quán)人的情況。但在他們的投資組合中，NBA球隊意味著不必要的負擔(dān)。

Two more sales stemmed from the deaths of longtime franchise owners： Bill Davidson in Detroit and Abe Pollin in Washington， D.C. Their wives elected to sell the NBA teams. Tom Gores ended up with the steal of the century in getting the Pistons and some real estate interests for $325 million in 2011. Ted Leonsis took the reins of the Wizards a year prior.

長期擁有球隊的老板去世導(dǎo)致了另外兩筆出售行為：活塞的比爾·戴維森和奇才的亞伯·波林，他們的遺孀選擇出售球隊。湯姆·格爾斯完成了本世紀最大的一筆打劫交易，他在2011年用價值約3.25億美元的房產(chǎn)買下了活塞。一年前，泰德·萊昂西斯買下了奇才的股份。

The two other teams sold in 2010 and 2011 appeared to be your standard sports franchise sales： owners of weak teams decided it wasnt fun anymore. The Warriors sold in 2010 for a then-record $450 million. The Sixers were sold by Comcast-Spectator in the summer of 2011 for a much lower price.

2010年和2011年另外兩支球隊被出售，就是標準的運動球隊交易行為：弱隊老板認為持有球隊不再有趣。2010年勇士出售時的4.5億美元創(chuàng)下了當時的紀錄，2011年Comcast-Spectator出售76人時的價格更低。

Ah， the summer of 2011. The elephant in the room.

還有2011年夏天，這個人人避而不談的話題。

The 2011 NBA lockout cost just 16 regular season games in the end， but the stakes were extraordinarily high. The league claimed half the teams were losing money and no internal revenue sharing could help make every team profitable. Fearing a fully lost season and a loss at the bargaining table， the union folded in November and gave up roughly $300 million per year in players salaries. On paper， the second that deal was signed， every NBA team should have been able at least to break even while staying competitive in terms of payroll. Most teams should have been able to mint money.

2011年的停擺最終只導(dǎo)致16場常規(guī)賽取消，但這次停擺的風(fēng)險卻極高。聯(lián)盟聲稱有半數(shù)的球隊在虧損，什么樣的內(nèi)部收益分成也無法幫助每支球隊盈利。擔(dān)心失去整個賽季、害怕談判失敗，球員工會11月時終于屈服，放棄了球員每年約3億美元的收入。從紙面上看，從協(xié)議簽訂時開始，每支NBA球隊都至少能達到收支平衡，而且在球員工資水平上擁有同等競爭力。大多數(shù)球隊應(yīng)當盈利。

But the new profit security found in the labor deal didnt show up in franchise sale prices right away. The league finally found a local buyer in New Orleans for the now-Pelicans， and sold the team to Tom Benson at only a very minor profit. Robert Pera， a young Silicon Valley tycoon， won the Grizzlies for a modest $350 million — somewhat higher than what youd expect based on market size and recent sales， but nothing extraordinary.

但勞資協(xié)議中新的收入保障并不會立刻在球隊的出售價格上得到體現(xiàn)。聯(lián)盟終于在新奧爾良當?shù)貫楝F(xiàn)在的鵜鶘找到了買家，然后以極低的利潤將球隊賣給了湯姆·本森。年輕的硅谷巨頭羅伯特·佩拉用3.5億美元這個適中的價格買下了灰熊——考慮到球市規(guī)模和近期的出售情況，這個價格其實高于預(yù)期，但也沒有高出太多。

Then the economic reality of the new labor deal and the new TV revenue paradigm set in， and all hell broke loose.

隨著新勞資協(xié)議的經(jīng)濟現(xiàn)實和新電視轉(zhuǎn)播收入計劃進入事業(yè)，一切開始失控。

In early 2013， Chris Hansen， a man desperate to get a team back to Seattle， threw half a billion dollars at the increasingly desperate Maloofs. Vivek Ranadive somehow figured that he could make those numbers work in Sacramento， and won the NBAs support. That $535 million purchase price set a new NBA record.

2013年初，迫切希望將NBA球隊重新帶回西雅圖的克里斯·漢森向日趨絕望的馬魯夫兄弟拋出了5億美元。維瓦克·拉納迪夫認為他能用同樣的價格把球隊留在薩克拉門托，他也得到了NBA的支持。5.35億美元的成交價格創(chuàng)造了新的NBA紀錄。

A year later， that record fell when Herb Kohl sold the Bucks for $550 million to out-of-town financiers. Those billionaires， Marc Lasry and Wes Edens， had no ties to Milwaukee but had determined that an NBA franchise based in Wisconsin was worth every penny ... plus a $100 million commitment for a new arena （presuming the public would kick in a big chunk， as well）.

一年后，當赫伯·科爾以5.5億美元價格將雄鹿出手給密爾沃基市外的金融家，再次創(chuàng)造了紀錄。馬克·拉斯里和維斯·艾登思這些億萬富翁和密爾沃基不存在業(yè)務(wù)往來，但他們認為一支主場在威斯康星州的NBA球隊值這么多錢……他們還要為新的體育館額外支付1億美元（假設(shè)還有更多公共資金注入）。

Later in 2014， TMZ blew up Donald Sterlings decades-long anti- stewardship of the L.A. Clippers by revealing him a scumbag racist （despite just about everyone who pays attention already knows him to be a scumbag racist）. After the league ejected Sterling from the exclusive NBA club， his estranged wife agreed to sell the team to Steve Ballmer for a new record price： $2 billion.

2014年下半年，TMZ通過曝光洛杉磯快船老板唐納德·斯特林的種族歧視錄音而解開了他長達數(shù)十年對快船疏于管理的現(xiàn)實（只不過所有留心的人早已知道他就是個混蛋種族歧視分子）。當聯(lián)盟驅(qū)逐了斯特林后，和他分居的妻子同意將球隊賣給史蒂夫·鮑默，這個價格再次創(chuàng)造紀錄：20億美元。

That $2 billion price drew lots of attention， and it was higher than anyone expected.

20億美元的成交價格吸引了大量關(guān)注，這也確實高出了所有人的預(yù)期。

A couple of months later， the NBA announced its new TV broadcast deal. Instead of each team earning $30 million a year from ESPN/ABC and Turner， each franchise would get about $86 million per year on average.Under the labor deal， players would take half. Thats still an extra $28 million for each team， with no extra expenses required. Just off the new national TV deal.

幾個月后，NBA公布了全新的電視轉(zhuǎn)播協(xié)議。每支球隊不再是每年從ESPN/ABC和TNT獲得3000萬美元轉(zhuǎn)播費用，這個數(shù)字變成年均8600萬美元。按照勞資協(xié)議規(guī)定，球員可以分得一半。但每支球隊仍然比過去多得2800萬美元，還不需要支出更多成本。只是一份新的電視轉(zhuǎn)播合同就能達成這個效果。

That war continues to play out on local networks， where the bulk of each teams games are shown. Many teams have elected to invest in their own regional sports networks to fully capitalize on the new TV paradigm.

各地電視臺對比賽直播權(quán)的爭奪還在繼續(xù)，因為每支球隊有大量比賽需要由本地電視臺播出。很多球隊選擇投資自己的電視網(wǎng)，以便全面開發(fā)新電視轉(zhuǎn)播行業(yè)的潛力。

As if to prove the Clippers sale was no fluke， the Hawks sold for almost $900 million in 2015 to a group led by Tony Ressler， who missed out on the Clippers. Four years prior， Alex Meruelo， a California developer and pizza chain owner， agreed to purchase a majority stake in the club for$350 million， but pulled out during the NBAs financial vetting process. Four years and some modest success later， the franchise was worth at least double that price.

好像為了證明快船的買賣并非偶然，老鷹隊在2015年以9億美元價格被托尼·萊斯納領(lǐng)導(dǎo)的財團買走，萊斯納曾錯過買下快船的機會。四年前，加州開發(fā)商、披薩連鎖店主亞歷克斯·莫萊羅以3.5億美元價格買下了老鷹的控股權(quán)，不過在NBA的審批過程中他選擇退出。經(jīng)過四年和一些成功運作，老鷹的價值翻了一番。

After just one sale in 2015， it does not appear a franchise will change hands in 2016， and realistically no franchises even appear to be on the market.

2015年僅有一支球隊換了東家，2016年似乎沒有球隊的所有權(quán)狀態(tài)會發(fā)生改變，事實上，沒有球隊被擺上貨架。

Prokhorov had made noises about selling the Nets in the past few years as his NBA tenure hadnt been as successful as hed promised. Yet， hes since disowned that wanderlust and seems to be sticking around.

由于在NBA的經(jīng)歷不像預(yù)期那么成功，普羅霍羅夫過去幾年有過出售籃網(wǎng)的表態(tài)。但他后來拋棄了這種想法，堅持持有籃網(wǎng)。

The Timberwolves have softly been on the market for seemingly ages， but this year Glen Taylor unloaded just minority shares of the club to remain at the helm. It would appear hell sell the team — perhaps to one of these minority-stake owners — at some point， but not necessarily soon.

森林狼在很長一段時間里一直屬于可能被出售的球隊，但今年，格倫·泰勒只是賣掉了一小部分股權(quán)。他有可能在某個時間將球隊賣出——可能賣給某個小股東，但短期內(nèi)可能性不大。

And then we have the two longest-tenured owners in the league： Herb Simon in Indiana and the Lakers Buss family. Simon is 81 years old and none of his 10 children appear to be involved in the basketball franchise. Meanwhile， two Buss siblings are in the midst of a Cold War for the operation of the team， with a potential open skirmish a year or two away.

接下來的則是聯(lián)盟持有球隊時間最長的兩個老板：步行者的赫伯·賽門和湖人的巴斯家族。賽門現(xiàn)年81歲，他的10個子女都沒有參與球隊運營。與此同時，巴斯家族的兄妹倆正因球隊控制權(quán)陷入冷戰(zhàn)，一兩年后有公開沖突的可能。

These things tend to end with lawsuits； a lawsuit could very well lead to a Frank McCourt-like divestment. Which could lead to a $3 billion sale. Or $4 billion. （Would you be shocked if the Lakers sold for $5 billion？）

這些情況一般會以打官司告終，訴訟很可能導(dǎo)致股份轉(zhuǎn)讓。這可能帶來30億美元的出售價格，或者40億美元。（如果湖人賣出50億美元，你會吃驚嗎？）

Stability is healthy. The Shinn and Maloof situations were dangerous for the league， even if both ended up fine thanks to the guiding hand of David Stern.

穩(wěn)定等于健康。辛和馬魯夫兄弟對聯(lián)盟是一種威脅，即便在大衛(wèi)·斯特恩的幫助下事情得到了良好解決。

The league should also be concerned about the loosening bond of the NBA family and what that means for decision-making in moments of crisis， like a potential 2017 lockout. New Money rules the Board of Governors now， not the familiar old faces who watched the league grow from tape-delayed finals games to $6 billion of annual revenue. There isnt a single individual owner who bought their team in the 1970s （the late Jerry Buss bought in 1979）， and only four owners who arrived in the 1980s.

NBA大家庭之間關(guān)聯(lián)程度的減弱以及這種現(xiàn)實在出現(xiàn)危機時、比如2017年潛在的停擺，對決策制定有什么意義，這也是聯(lián)盟應(yīng)當考慮的問題。聯(lián)盟的所有權(quán)人管理委員會上全是新的富翁，見證聯(lián)盟從總決賽只能延遲播放錄像帶到發(fā)展為年收入60億美元的大產(chǎn)業(yè)的老面孔已經(jīng)不在了。現(xiàn)在的球隊老板中，沒有一個是在70年代買入的球隊（去世不久的杰里·巴斯在1979年買下了湖人），只有四名老板是在80年代買下的球隊。

Eighteen of the 30 current team owners entered the league in 2000 or later. With these massive investments come massive expectations. The NBA has met them so far. But Adam Silver and his team have to be concerned the hot streak will end at some point.

30支球隊中有18支球隊的老板在2000年之后才進入NBA。巨額投資意味著極高的期望。到目前為止，NBA滿足了他們的期望。但亞當·肖華和他的團隊必須明白，這種熱度總有一天會結(jié)束。