NFC divisional glance
Seahawks may get a new owner, but they’re not leaving Seattle
SEATTLE — There would be plenty of buyer interest in the Seahawks and Portland Trail Blazers if either goes up for sale, but there are no actual reasons to relocate those teams, two specialists in franchise acquisitions said Tuesday.
In fact, Charles H. Baker, the New York-based co-chairman of the Sports Industry Group at the O’Melveny & Myers law firm, said it’s entirely possible billionaire Microsoft founder Paul Allen put conditions in his will blocking relocation if the teams are sold. Baker, who recently represented hedge fund investor David Tepper in his $2.275 billion purchase of the NFL’s Carolina Panthers, said he has no direct knowledge of the Seahawks or Blazers situations but such stipulations aren’t uncommon.
“You can certainly be specific with regards to the directions that you give your executor, including stipulations with respect to where an asset is held,” Baker said.
Michael Rapkoch, founder of Texasbased Sports Value Consulting who advises investors on buying teams, said there could be court challenges and other means of getting around any such Allen instructions. But ultimately, he added, the NFL and NBA would have to sign off on any relocation and there simply isn’t a good enough reason to.
“You can’t just move a team without the commissioner’s blessing,” Rapkoch said. “You have to first make the compelling case.”
An NBA source said Tuesday the league has no interest at all in the Blazers relocating to Seattle, shooting down one of the early rumors that surfaced after Allen died Monday of non-Hodgkins lymphoma at age 65. The Blazers’ lease with the City of Portland at the Moda Center runs through at least 2025, the team is making money — unlike struggling franchises in Memphis and New Orleans — and the league also is uninterested in repairing its image in Seattle by hurting another Northwest city.
As well, a revived regional rivalry between the Blazers and any future Sonics team is seen as something key for both franchises.
Baker and Rapkoch agree the Blazers have a good situation as the only Portland team from any of the “Big Four” professional leagues and owning their home arena. Also, Baker said the Blazers have room to grow their marketing outside of Portland proper, which could provide an even bigger upside to potential buyers.
Both agree there’s little reason to move the Seahawks anyplace.
“Seattle’s a great market,” Rapkoch said. “It can be a destination market. It’s a really good team with a good coach, a good history behind it and just a really good, solid fan base. So, all the ‘i’s’ are dotted and the ‘t’s’ are crossed in your city for football. Obviously, they own a piece of the (Sounders) soccer team, too. And they’ve done great. So, why would you want to move? You’re in a great location.”
Baker added: “It’s a marquee name and a very well-run franchise,” he said. “They have a great coach who’s got a couple of years left on his contract.
“They’re in a sort of rebuilding year with one of the premier Super Bowl-winning quarterbacks. They’re well-marketed and the Pacific Northwest is a great, great market. Not the biggest DMA in terms of media, but it’s a solid market.”
Neither would venture guesses at what the teams could sell for without taking a detailed look at their financials. The most recent Forbes estimates put the Seahawks at $2.58 billion and the Blazers at $1.3 billion.