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To the NBA lock out now as the players and owners are returning to labor talks today still hoping to salvage.
The season but we wanna talk here about the economics in the city of Orlando because Orlando supposed to host the all star game.
And if it's cancel the city saying it would be out.
But a hundred million bucks so Orlando is looking to sue -- -- -- the NBA and with more on all that the mayor of Orlando buddy Dyer.
He's our -- lawsuit against the NBA have you ever.
Any precedent for this ever tried this against another business because -- later this.
We actually are not.
Contemplating suing the NBA we are concerned about the economics of it however and group of mayors a group of NBA city mayors.
Sent a letter to the commissioner -- the head of the players association.
Saying how -- taken into consideration some of the folks that are hurt by this other than just the players and the owners as you guys are going to be okay eventually.
But the guys that are working concessions are taking tickets are ushers.
In the Arenas around the country that work hourly they are the ones that are going to be hurt the very are not employed this year the small businesses that are.
All around the arena is all around the country that have business plans that anticipate having.
45 home dates and they're the ones that are going to be hurt some of those businesses may not make it through the year there's -- -- -- So you can't do anything about it though they read somewhere that there was -- may be a court action would be possibly you're saying now you can't there's nothing much to do accept a grin and bear.
Well what we did we protected ourselves in terms of the actual city we we own the Amway senator.
We operate the -- senator the magic have a lease agreement with us.
And in our lease agreement with a magic.
We put in a provision that said what do you play or not you're gonna pay your annual lease so the city itself and our operation.
Plan but -- protected ourselves as no longs doesn't tell because the the reported in that you are researching a lawsuit that you're looking into the possibility see your stance not going to happen that is true.
Well I can tell you that the city of Orlando is not researching a lawsuit against either the magic for the -- and tell me about the I take our direct cause of action would be breach of contract gets.
The magic again we already insulated ourselves from that.
Let me talk to a little bit about the economics of all this and how much you actually lose so if it's.
If -- -- indices -- now it's like at least through Christmas or and it could be the whole year of war who knows but.
The point is a lot of the season is not going to happen and -- the all star game is canceled I'm sure you will lose something.
But what I found in talking about economic impacts of sporting events in general.
This over the years is that the economic impact of sports is usually exaggerated.
In other -- of those studies are done they don't take into account.
That people would have been in the restaurants anyway.
They just would have been go to the game or people would have been visiting the city anyway they just would have been coming to see the magic would you be able to -- Make up for replace some of this lost revenue somewhere now well.
People I think it let's talk about the regular season Begin -- There are a lot of things to do in central -- and the city of Orlando so people.
We'll probably spend their entertainment dollars and a different factions so there will be sales tax generated.
Still -- be in different locations the 20000 people that would come to downtown Orlando for magic game won't be in downtown Orlando on any of those -- The individual merchants that are in and around the downtown area that have made an investment because of the in ways that are being there.
They're the ones that are gonna be hurt their view the -- off.
Right the NBA all star game that's a different story.
LA had -- last year I guess about the last three have generated between.
Eighty and a hundred million dollars worth of income or economic activity for the community that they have visited and those are visitors that would not be.
In Orlando in 43 or 45 days during the month of February so that is a direct loss of income.
They -- -- thank you very much appreciate you coming on thanks for joining us.
Thanks very much although there might be some it's a molecule always fun to some -- -- look at that -- didn't go to Disney World because you know the in the case there.
And then nobody Disney World you know.
And if the numbers are always to see but anyway -- -- very good buoyant despite.
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