Hoo boy, you’re gonna love the latest from Forbes:
Preliminary talks about a Louisville NBA team have been met with some skepticism. A recent Cambridge Economic Research feasibility study revealed that the city may not benefit economically to the extent that proponents postulate.
Additionally, the study relies on the Federal Reserve Bank’s model (a model purportedly used by the researchers) to conclude that Louisville is projected to benefit $2.4 million per year (from new jobs and local taxes) if a team arrives in the city, a number that is claimed to be insufficient to support the costs of attracting an NBA team. However, the study, which was submitted to an agency called Boxcar PR, has been criticized for its supposed lack of foundation and for its mischaracterization of the source of the $2.4 million finding. For instance, Louisville-based attorney, J. Bruce Miller, who has long been one of the strongest advocates for a Louisville NBA team, pointed out to Forbes.com that the study blatantly misconstrues statistics presented by Rascher & Rascher (the study even misspells their names) in their NBA Expansion Viability Study and references an October 2012 that Dr. Daniel Rascher, Ph.D., Economics, University of California at Berkeley, says was never conducted. “The implication from the study, cited in the Boxcar report, is that the Raschers determined that if the Sacramento Kings transfer locations, Louisville should be at bottom of the list,” said Miller. ”I asked Dan Rascher what’s happened to Louisville in the last 7 years, when his real study was released in a peer-reviewed research journal. He said Louisville would still be the number one city based on his previous work and that nothing has changed other than the fact that Seattle does not have a team now, but had one back then.” Miller says that Rascher told him the Boxcar report was a fabrication; Miller called it a fraud.
Isn’t that fun? But get a load of the latest hype Bob Gunnell is tossing around (must be trying to pay off Gus Goldsmith):
“J. Bruce Miller is still carrying the water for a dream of a NBA team in Louisville,” said a Boxcar PR representative in response to Miller’s public accusations. ”His dream would leave taxpayers paying the tab to the tune of millions of dollars that could be better spent on tourism, the arts and visitor attractions that could result in tens of thousands of convention and tourism visitors each year. This NBA dream could endanger the best college sports town in America.”
Unfortunately for Bob?
However, Forbes.com has gained access to a communication from Dr. Rascher that says, “The two items [from the Cambridge Economic Research feasibility study] that I read are both incorrect in multiple ways. It makes me question the validity of the entire study.”
More choice excerpts:
The speculation that a professional basketball team would detract from the existing college basketball program has not served as an effective roadblock to divert the interest of Mayor Greg Fischer, and other supporters, of bringing professional basketball to the roughly 1.3 million inhabitants of Louisville and the many others that live in Louisville’s surrounding area. Further, there is no reason to believe that a professional team within the Louisville city limits will detract from the University of Louisville basketball program’s success.
There are a number of people who, privately, have expressed interest in participating in an ownership opportunity should a team become available for relocation to Louisville. Those same sources have told Forbes.com that each of the potential owners has the wherewithal to realistically participate as a qualified minority owner.
Those people interested in being potential owners? They’re people we know and speak with on a regular basis. It will not be tough for you to figure out who they are or how serious they are.