Kritter471
Registered User
Dado - it's impossible to separate the team from the arena. They both increase each other's value by an unknown amount and the books are ridiculously intertwined. Who's to say that the team isn't worth $150 mm and the arena $100 mm or the team $180 mm and the arena $70 mm? They're not going to be separated in the bid except for the specific numbers with regard to debt assumption.
Remember, the AAC profit/value may actually drop significantly next season if the NBA lockout comes to fruition, and it's carrying significantly more debt than the team to begin with. It's not necessarily the more valuable asset in the deal. Honestly, it's one of those situations where owning both increases the values of both properties owned. And the Stars have also always been valued as high as they were because of the way they were tied to the arena, just like the arena has been more valued highly because of the presence of two big four tenants.
Remember, the AAC profit/value may actually drop significantly next season if the NBA lockout comes to fruition, and it's carrying significantly more debt than the team to begin with. It's not necessarily the more valuable asset in the deal. Honestly, it's one of those situations where owning both increases the values of both properties owned. And the Stars have also always been valued as high as they were because of the way they were tied to the arena, just like the arena has been more valued highly because of the presence of two big four tenants.