The owners of the Atlanta Hawks and Thrashers sell entertainment, not wins. Bernie Mullin, president and CEO of Atlanta Spirit LLC, says trying to sell wins is a losing proposition because you can't guarantee them.
"We provide a complete entertainment package inside and outside the white lines," Mullin told Buckhead Rotary this week.
Mullin says Atlanta Spirit, which also owns Philips Arena, is collectively losing money on the three entities, but moving toward profitability. Philips Arena makes money. The Thrashers lose about $20 million a year. The Hawks break even, the difference mainly due to more money from revenue sharing and taxes from other NBA teams that exceed the league salary cap.
In this podcast, Mullin also predicts hard times for the Atlanta Braves, figuring Liberty Media bought into Major League Baseball for a tax break and will not invest enough in salaries to generate a strong team.
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Founded in 1951, Buckhead Rotary is one of 70 clubs in Rotary District 6900.
