| The Return of Steve Belkin: Nonsense in Full Effect Authored by Zettler Clay, IV - March 24, 2006 - 3:06 am
Where is Arthur Blank? Where is any of the effulgence that the Atlanta Falcons braintrust exude? The Georgia Dome and Phillips Arena are less than a mile apart, but that is the closest that you can come to correlate these two franchises. One is preparing for a Super Bowl run, with signings of two Pro Bowlers and another solid piece. Another can’t get rid of an unrelenting former owner. This is reminiscent of Rachel Phelps in Major League I and Major League II. You know, the malcontent owner who kept trying to sabotage the team for her own interests.
Why won’t you go away!
Yep, that is the majority opinion of Atlanta Hawks fans. Heck, it’s probably the census around this region. I wouldn’t doubt that. A great part of this pending legal issue is met with apathy. Be that as it may, Steve Belkin (the ousted owner) is attempting to pick up the pieces after an embarrassing episode last summer. As if public perception of the Atlanta Hawks isn’t bad enough, we are currently in a battle that doesn’t look like it’ll be going away anytime soon. The sullying will continue indefinitely.
Allow me to rehash this story.
Joe Johnson was a restricted free agent in the summer of 2005. Boris Diaw was unhappy here, he wanted to be traded. Mike D’Antoni, with his eye for European talent, covets Diaw. The Hawks oblige. Out of the nine or so owners who consent to this trade—which every owner has to do for EVERY trade in professional sports—one disagrees (good ol’ Mr. Belkin). The reason for the dissent is not clear, but only two can suffice. Either Belkin thought that Joe Johnson wasn’t worth that much, or Belkin is cheap. Neither one is ample enough to halt one of the games budding stars from coming to Atlanta. Joe Johnson wanted to come here. I don’t know what is in those corporate mugs, but Belkin must have thought he had much to bargain with. This is the Hawks, a team who won 13 games and who have not sniffed the playoffs since Steve Smith left town in the late 20th century. But nevertheless, a stalemate was reached.
The litigious process begins. The B.K. stiff of Belkin’s hand is ostensibly shown. ESPN even shows it. All of which contributed to the already prevalent notion that the Hawks were the worst franchise in the NBA. David Stern eventually steps in and does what the courts should have done. He allows the other owners to buy out Belkin’s stake, thus permitting the trade. I rejoiced. So did Joe Johnson (who got broke off, I might add). Steve Belkin is gone as far as Hawks fans are concerned and now we can focus on basketball. But apparently, the matter between the owners wasn’t over.
Somebody dropped the ball. This should not have taken this long. The appraisal process and the buying out process should not be this flawed as these owners are presenting it to be. And as much as we love to hate on Belkin in this instance, he is still around because he found loopholes. Ladies and gentlemen, that’s the foundation of a victorious argument, and a competent human being. It’s what we all look for when trying to win. You don’t achieve the financial success that Belkin has with a lack of savvy. So quite frankly, Bruce Levenson, Ed Peskowitz, and Micheal Gearon Jr., are as much to blame for this debacle as the crafty Belkin.
Belkin rejected the first appraisal, so the courts rule in his favor to seek a second one.
The second appraisal is ridiculously high, according to the owners. If I might add, Belkin’s appraisal has the Hawks and Thrashers valued at 695 million dollars. I will pay anybody to thoroughly prove to me how these two franchises are worth more than the LA Lakers and the San Antonio Spurs. It doesn’t add up, intuitively or quantitatively.
While Belkin has them fuming over his second appraisal, he sends in another filing, stating that since the Hawks didn’t buy the team within the prescribed timetable, he should be able to buy them out! Talk about your all time white collar crimes.
So this is where we are today. Another filing by the owners and a town wishing Rachel Phelps would go away. To throw more salt in the wounds, the Hawks have 21 wins and receive no respect from referees. At least we have another division title by the Braves, and a year of excitement from Michael Vick and Company to look forward to.
Resolution needs to be imminent, or the Hawks will be in Las Vegas. |
