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agreement to no avail. They asked for extensions on existing bonds and taxes for sports stadiums. The predicted repayment is far ahead of schedule, and the funds could be used for improvements to the facility.

Politicians apparently feel people are getting tired of hearing about funding stadiums for professional franchises, and no one went to bat for the extension. Apparently, the feeling was Howard Schultz can afford it. I guess no one considered that he became a billionaire not losing $30 million per year on an investment.

OILY CLAY

I do not know why Howard Schultz sold the teams to a group led by Oklahoma City businessman Clay Bennett, but there was little doubt in anyone's mind why the group wanted to buy an NBA franchise: Oklahoma City was the beneficiary of the New Orleans Hornets needing a place to play after Hurricane Katrina. Oklahoma City does not have the market of Seattle, but the team will be able to draw sufficiently for the ownership to make money.

Mr. Bennett's approach was a bit different. He had promised Howard Schultz to make a good-faith effort for a year to keep the team in Seattle. He made proposals to the Seattle City Council, the King County Council, and the State Legislature. David Stern even came to appeal for public contributions into a public building. All were denied.

He asked Oklahoma City for some public funding and tax concessions. Voters approved them. He applied for relocation with the NBA. Only Dallas Maverick owner Mark Cuban and Portland Trailblazer owner Paul Allen voted against the proposal.

ECONOMIC IMPACT

The public benefits from professional sports franchises in many ways. Key Arena has lost its major tenant, and local businesses lose potentially 18,000 customers forty-one times a year. It is unlikely that any other attraction would draw as many people into a city center for the purpose of spending money. There will be staff that will not be necessary on nights that the team would have played at home.

In addition to the impact locally on jobs, state sales tax revenues will decline proportionately to the tax on $100 jerseys, $4 hot dogs and cokes, and $7 beers multiplied by forty-one times 18,000. This money will not be fully recovered through other local attractions.

There is no way to lose an NBA franchise, and improve the local economy and tax revenues.

STORM LEFT BEHIND IS SIGHT TO BEHOLD

Clay Bennett sold the Seattle Storm to a local group. The local ownership has made significant signings during the off-season! If there

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