Sue’s List #21
Here’s a compilation of events that'll have you jumping from the basketball court to the concert hall in a heartbeat! From the buzz surrounding Michael Jordan's Hornets to the vanishing act of those sneaky "junk fees" for concert tickets, this curated collection will keep you on the edge of your seat.
Michael Jordan Nets $3 Billion as He Dunks on Ownership with Charlotte Hornets Sale
In a significant development, Michael Jordan, the legendary basketball player, has agreed to sell his majority stake in the NBA's Charlotte Hornets at a valuation of $3 billion. This decision brings an end to his 13-year tenure as the team's owner. The sale price of $3 billion ranks as the seventh most expensive ever recorded for a sports franchise. Remarkably, six of the seven highest-priced sales have occurred within the past 13 months.
This transaction demonstrates the immense financial success that can be achieved through sports ownership. Jordan's return on investment is an impressive tenfold, as he initially purchased the team for $275 million. It underscores the notion that investing in sports franchises can yield remarkable returns and stands as one of the best investment opportunities available.
Outlined below are the ten most expensive sports franchise sales ever, ordered according to their rate of return.
1 🏈 Broncos: Bought for $78M in 1984, sold for $4.65B in 2022 (59.6x return)
2 ⚾ Mets: Bought for $81M in 1986, sold for $2.42B in 2020 (29.9x)
3 🏀 Rockets: Bought for $85M in 1993, sold for $2.2B in 2017 (25.9x)
4 ⚽ Chelsea: Bought for $233M in 2003, sold for $3.16B in 2022 (13.6x)
5 🏈 Panthers: Bought for $206M in 1993, sold for $2.28B in 2018 (11.1x)
6 🏀 Hornets: Bought for $275M in 2010, sold for $3B in 2023 (10.9x)
7 🏀 Suns: Bought for $401M in 2004, sold for $4B in 2023 (10x)
8 🏀 Nets: Bought for $393M in 2010, sold for $3.3B in 2019 (8.4x)
9 🏈 Commanders: Bought for $800M in 1999, sold for $6 billion in 2023 (7.6x)
10 🏀 Bucks: Bought for $550M in 2014, sold for $3.2B in 2023 (5.8x)
Taking Flight: Wheelchair Users Refuse to Be Grounded, Push for Equal Access to Air Travel
Considering that wheelchair users can navigate buses, trains, and even attend baseball games in their own chairs, it raises the question: Should airplanes be any different?
They should not! In the ongoing battle for greater accessibility in air travel, advocates are pushing for new rules to make flying easier for passengers with disabilities, particularly those who require wheelchairs. The current restriction that prevents them from sitting in their own chairs during flights has sparked a contentious debate. Accessibility advocates argue that this policy leads to damaged wheelchairs, degrading treatment, and disrupted plans for many disabled travelers.
Startling statistics from the Department of Transportation reveal that in January 2023 alone, airlines mishandled 871 wheelchairs and scooters. This amounts to an alarming ratio of 1.6 mishandled devices for every 100 entrusted to them. Proponents of allowing passengers to remain in their own wheelchairs on flights believe that this change would reduce the likelihood of damage during travel.
The pressure is on Congress to renew the Federal Aviation Administration's funding and operating authority by the end of September. This creates a crucial window of opportunity for those advocating for regulatory changes in the industry. Many disability advocates are urging airlines to install wheelchair-friendly seats, eliminating the need for potentially risky seat-to-seat transfers and the storage of wheelchairs in the cabin or luggage bay.
Recently introduced FAA reauthorization bills in Congress include significant reforms, such as improved training requirements, heightened accessibility standards, and mechanisms for holding airlines accountable for mistakes. However, the issue of wheelchair users remaining in their own chairs on airplanes is likely to be postponed for further research and development. That is just ludicrous!
Concertgoers Rejoice as Ticket Titans Tune Out Sneaky Fees
In a move aimed at eliminating those dreaded last-minute surprises, ticket giants Live Nation and SeatGeek have pledged to reveal the true price of their tickets upfront. This announcement is music to the ears of concertgoers who have grown tired of the sneaky "junk fees" that artificially inflate ticket costs just before they hit the buy button. These hidden charges, which have become all too common on ticketing sites, make it harder for fans to access shows at a time when the demand for concerts is skyrocketing. Even The White House has applauded this step, following President Biden's mention of the issue in his State of the Union address. It seems that transparency is finally taking center stage, and hopefully, other companies will follow suit, ensuring that ticket prices hit the right note from the start.
For small peeps
Calling all art-loving teens in Norwalk!
Get ready for an epic game night hosted by the The Norwalk Art Space Teen Committee on Friday, June 23rd from 5-8pm. It's time to unleash your competitive spirit and dive into an array of thrilling activities. From card games to video games and even retro board games, there's something for everyone. And the best part? This event is absolutely FREE! That's right, folks, no need to break the bank. Plus, as if the games weren't enticing enough, there will be delicious food and refreshing drinks to keep you fueled throughout the night. So mark your calendars, grab your friends, and let the games begin! A special shout-out goes to the Melissa Wilkinson Foundation for making this unforgettable evening possible. Get ready to level up your game night experience!
Friday, June 23, 2023
455 West Avenue, Norwalk, CT 06850
Thanks for reading the entire list.
See you next Tuesday!