The owner gets to pocket the luxury suite ticket sales, that is not shared revenue. The cheapest luxury suite is $70,000 per season with a minimum of 3 season contract. It comes with 16 tickets per game.
When I look at the suites in the stadium they are mostly filled now, but 3 years ago there were a bunch of empty suites. I think Khan is doing better on that front than Wayne.
Regards..................the Chiefjag
Khan is doing better than Weaver on pretty much every front. I like Wayne and Deloris but they were in over their heads.
That's good news on the boxes. I was a bit worried with the lack of Corporate headquarters here. Maybe we have finally turned the corner on sales and building a consistent fan base even with the worst of teams.
Quote:I dont think you understand the difference between a business' books and their tax return. The tax return usually allows more of a loss due to various credits and bonus depreciation.
Ya, if something fishy is on the return, then the irs will audit the business and look at their books. But ultimately the irs does not regulate bookkeeping.
What the jags have on their books is regulated by gaap, not the irs.
Point is, if the khan goes court to discuss his books, the irs is not involved. It would probably involve a financials audit by a firm.
If they are going to use their accounting as a legal basis for breaking a lease, ie like your claim that they could forward the depreciation expense from the renovations to show a loss, then their books better follow GAAP and proper tax accounting because you better believe they will be opened by court order and the IRS will be right there should the court finds the books have been cooked.
Quote:If they are going to use their accounting as a legal basis for breaking a lease, ie like your claim that they could forward the depreciation expense from the renovations to show a loss, then their books better follow GAAP and proper tax accounting because you better believe they will be opened by court order and the IRS will be right there should the court finds the books have been cooked.
There is a 0.1% chance the jaguars organization doesnt use proper accounting procedures. I didnt claim anything. I just considered the possibility that the city has capitalized the full cost and Khan's money was a donation. However stupid or unlikely that is.
The books dont have to follow tax accounting. The IRS would not care unless regs are not followed on the tax return. There are differences that can exist between book and tax.
Quote:You have to be overly naive to think that it's not in the realm of possibility to happen considering the jump in value if the Jags moved to LA.
As the Chief said, I'm not suggesting but certainly not discounting the possibility of relocation. I just won't sit here and take on the hand wringing that's delivered by the usual suspects who've been wrong on several occasions, while they enjoy their role of puppeteer.
I'm not saying it can't happen, but if the spike in revenue was so overwhelmingly enticing, teams would be jumping head over heels to get to LA...Unless of course it's just like Wayne Weaver and Mr Khan have both said all along...it's not so much about the money(owning a NFL team), it's more of just being in an elite group...
It just seems to me that if there is so much more revenue to gain by moving to LA, that there would be no shortage of owners wanting/willing to relocate...It must not be THAT great or there would be at least one team already there
Khan isn't dependent upon the team to make his money. He's doing just fine without the team. Owning the franchise puts him in a very exclusive club.
Quote:Bad publicity isn't on him. That's the local media trying to stir something up. They can get away with it because it sells to portray this as a David vs. Goliath situation without bothering to look at the facts.
If the media ever decides to post them which is the question.
From reading the 13 different stories on this only 1 publication actually stated the Bakery defaulted on the loan which is part of the reason Khan is taking over.
Quote:I seriously, seriously doubt this. No offense.
Doubt what? Khan has detractors?
The majority of the city is on board with what he is doing, its that small 5 percent who show some resistance just look at the shipyards project.
Quote:If the media ever decides to post them which is the question.
From reading the 13 different stories on this only 1 publication actually stated the Bakery defaulted on the loan which is part of the reason Khan is taking over.
Exactly. You have to dig a lot deeper to find the truth because the local media is really trying to spin that story like Khan is the bad guy. They all have their own agendas.
I know that ever since the city got the team, there have always been a small but vocal group of detractors who howl about anything involving this team. They resent that the team took a major leap forward by becoming an NFL city, and they hate the way the city has continued to grow since that happened. They fight everything that advances the team tooth and nail, and relish every opportunity to trash the Jags in their never-ending quest to keep Jacksonville in the Cow Ford mode they prefer.
I don't want to portray Khan like some sort of saint. He's a businessman who is intent on bolstering his bottom line. Nothing wrong with that. As his bottom line rises, so does the bottom line for those who have hitched their wagons to his.
Any time I see the discussions about relocation start to pop up again, I have to laugh because it's clear the team has decided to put roots down here assuring that won't happen. Unless the bottom completely falls out here in Jacksonville, I think we can rest assured the team is going to be here for the long-term. Especially when I see the activities ownership is involved with in the community. I look at Shad Khan as a guy who has spent his life being the underdog who found success, and I think he sees Jacksonville as a similar story. We're the underdog small market in the NFL. His goals with his efforts to promote the city and local businesses is rooted in helping Jacksonville shed the small market stigma and grow itself into something bigger. I was skeptical when he first signed on, but he's proven with each action he's taken both with the team and with the city that while WE think we're a small market town, that's not the vision he has for us long-term. His mission is to get people to buy into what he sees as the long term success of this city.
Quote:Khan isn't dependent upon the team to make his money. He's doing just fine without the team. Owning the franchise puts him in a very exclusive club.
And that's really the heart of the matter.
It's really what makes this thread look that much more pathetic.
The Jaguars brought him to Jacksonville, but beyond that it's clear he's dedicated to this city and bringing business here.
Quote:I'm not saying it can't happen, but if the spike in revenue was so overwhelmingly enticing, teams would be jumping head over heels to get to LA...Unless of course it's just like Wayne Weaver and Mr Khan have both said all along...it's not so much about the money(owning a NFL team), it's more of just being in an elite group...
It just seems to me that if there is so much more revenue to gain by moving to LA, that there would be no shortage of owners wanting/willing to relocate...It must not be THAT great or there would be at least one team already there
If you have the money to buy an NFL franchise in the first place, you probably aren't in it just for the money. I think these guys look at these teams as toys. Something to play with to stroke their ego. Plus, they are only one of 32(or 31-see Green Bay) guys in the world that can say they own an NFL team. Pretty exclusive club if you ask me.
Quote:That argument could be applied towards any team not named the Cowboys, Packers, or Patriots. And yet no team has relocated because of that reasoning. Shared revenue works because it provides a level playing field for the smaller market teams vs the large market teams. without it the NFL would end up like the MLB. This particular business model works and is the main reason why football has overtaken baseball as "America's sport".
Actually baseball has had more varied champions than any other league.... note the Royals last year and the Rays in prior years... Difference in baseball is they can grow players via minor leagues paying many of them nothing... NFL and NBA mostly use college for that especially the NFL which requires 3 years in college.. Baseball also uses college but plenty of Latin players go into the minor league meat-grinder.. If you went to a Suns game, it seems like 3/4 of the team is Hispanic..... Top college players spend less time in the minors or no time in minors.... Football has become more popular not because of shared revenue but the nature of the sport which this ADD world of ours seems to like better as well as fantasy which gives fans instant gratification.. Baseball fantasy ( where frankly it all started anyway) takes longer to figure out because of the nature of the game.