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Marcuse

(9,070 posts)

16. Vulture capitalists dismantled the team (McAdoo to Knicks for $3M) to break the lease and move.

Mon Jan 24, 2022, 09:14 PM

Jan 2022

(The lease had an minimum attendance clause.)

They then swapped franchises with the owner of the Celtics, allowing each owner to take full depreciation allowances.

The NBA would never allow the Celtics to leave Boston, but approved the move of its former owner’s new Braves franchise to San Diego by a vote of 21-1. The owners of the NFL Rams (Carroll Rosenbloom) and WFT (Bob Irsay) also swapped franchises before Congress closed that 1970s tax dodge.

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